Argentine companies must sell their savings before requesting foreign currencies

Among the assets authorized by the Central Bank of the South American country are cryptocurrencies

The Central Bank of Argentina issued, this Thursday, May 28, a resolution specifying that companies established in the country must dispose of their assets acquired abroad to cover the debts they obtain with an international supplier and be able to honor their commitments.

Among the assets considered by the bank are cryptocurrencies, regardless of whether they are stored abroad or in the country. If the international obligations are not exonerated with the resources of the company, it will not be able to go to the financial institution to request foreign currency.

Other assets mentioned in the resolution include foreign notes and coins, gold coins or bars, demand deposits in foreign financial entities and other investments that allow immediate availability.

In addition, it includes investments in external public securities, funds in investment accounts in investment managers based abroad and funds in accounts of payment service providers, as indicated by Marcos Zocaro, Tax Consultant. “Companies must have their liquid external assets available, which includes banknotes, gold and crypto assets, among others.”

Zocaro assures that “the exception is all holdings in foreign currency, which are deposited in accounts at local financial entities. If the company has dollar deposits, for example, but in foreign banks, it will have to use those dollars first.” The measure, which came into effect last Friday, May 29, excludes business assets that are in Argentina.


Source: criptonoticias

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