Argentina Joins Global Crypto Data-Sharing Network, Starts in 2029

Argentina is set to bring its crypto market under a global tax-reporting system by 2029. The country has joined the OECD’s Crypto-Asset Reporting Framework (CARF), allowing tax authorities to automatically share crypto transaction data across borders.

The move comes as Argentina has also eased crypto rules after reversing a strict 2022 ban, allowing digital asset services in mainstream banking apps.

Argentina Becomes 77th CARF Jurisdiction

Argentina’s commitment was announced by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes. The move makes Argentina the 77th jurisdiction to join the global crypto tax information-sharing system. 

Developed with G20 countries, CARF extends automatic tax information sharing to crypto assets. The framework is designed to help tax authorities identify crypto activity that takes place outside a user’s home country. 

Argentina will now need to build the legal and technical system required to exchange this information by September 2029.

What Data Will Be Shared Under CARF?

Once Argentina’s domestic rules take effect, covered crypto-asset service providers will have to collect customer and transaction information.

The data can include a user’s name, address, tax residence, and taxpayer identification number, along with transaction information. CARF covers exchanges between crypto assets and fiat currencies, crypto-to-crypto transactions and transfers of crypto assets.

The information can then be sent to tax authorities in participating jurisdictions where the customer is a tax resident.

No New Crypto Tax Under CARF

The new commitment does not create a new crypto tax in Argentina. Instead, it changes how information about crypto transactions is collected and shared with tax authorities.

This means Argentina’s existing tax rules still determine whether a crypto transaction creates a tax liability. CARF mainly gives authorities more information to verify those declarations.

Domestic Law Must Be Updated by 2029

Argentina now has until September 2029 to put the necessary legal and technical systems in place and begin automatic exchanges. The OECD Global Forum will monitor the country’s progress and provide support during implementation.

The OECD says 77 jurisdictions have now formally committed to CARF, with most expected to begin automatic exchanges by 2027.