Report: Amid pullback, Argentinian Bitcoin miners thriving
Institutional miners and hobbyists alike are taking advantage of energy subsidies to cash in. While the broader crypto market suffers through a painful slump, a new report today indicates that Bitcoin miners in Argentina are thriving as they take advantage of convoluted energy policies. A report from Bloomberg republished in the Buenos Aires Times says that residential mining is picking up due to a mix of factors, including currency controls, energy subsidies, and rampant inflation. The favorable mix of conditions has even brought in international attention as Canadian mining company....
Related News
The Argentinian anti-money laundering regulator is reportedly working to force cryptocurrency firms to report their movements and take AML measures on Argentinian soil. The regulation for this purpose might be ready for approval this year, according to local media. This could be the consequence of the recent requirement approved in the deal the country made with the International Monetary Fund (IMF).
Argentinian Exchanges Might Have to Report Transactions Later This Year
The Argentinian money laundering watchdog is taking cryptocurrency transactions seriously. The Financial....
The Energy Secretary of Argentina eliminated power subsidies for cryptocurrency miners, raising the cost of energy to almost 4x what the miners were paying before. The measure affects customers of the wholesale power market in the Tierra del Fuego province, one of the provinces more notably occupied by miners in the country due to its specific climate characteristics.
Argentina Eliminates Subsidies for Cryptocurrency Mining
The government of Argentina has eliminated the subsidies that applied to power used by cryptocurrency miners. This is the decision that the Energy Secretary....
The Argentinian government has taken the first steps in the launch of its own central bank digital currency (CBDC). A new decree identified the number 207/2022 gives new faculties to the Argentinian mint to involve in the investigation, development, and issuance of digital currencies. This puts Argentina on the trail of countries like Brazil and Mexico, that are already involved in the development of their e-currencies.
Argentina Prepares the Field for a CBDC
The government of Argentina is preparing the legal field for future issuance of its own central bank digital currency, the....
The Argentinian Tax Authority (AFIP) has won a historic case to seize taxpayer funds from a digital account. The case, which was won in an appeal in the Federal Chamber of Mar del Plata, might bring about more seizures of this kind and include cryptocurrencies as part of a stricter policy of the organization.
Argentinian Tax Authority to Seize Funds From Digital Account
The eyes of regulators around the world have turned to fintech and crypto companies and their operations. The Argentinian Tax Authority (AFIP) has recently won a landmark case in the area, allowing it to seize....
The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it easier for tax agencies all over the world to curb evasion. The organization has already made use of financial information to collect taxes from Argentinian users with bank accounts abroad.
Argentinian Tax Agency Backs Crypto Holder Registry Creation
The AFIP, which is the Argentinian national tax collecting agency, wants to advance its efficiency in the collection of crypto-related....