Argentina's Senate Introduces a New Bill Proposing Tax on Cryptocurrency held abroad by the Country's Citizens

The Argentine Senate has introduced a new bill proposing tax on cryptocurrency held abroad by the country's citizens. Under the legal project, a 20% property tax would be imposed on all types of property outside the country, including any amount of legal tender, property, stocks, credits and cryptocurrency. This tax rate applies to all taxpayers who voluntarily declare these assets within six months of the law's approval. At the end of this period, the applicable tax rate will increase to between 35% and 50% of the value of foreign holdings of goods, stocks and cryptocurrency.