The Government of the Autonomous City of Buenos Aires worked with the Argentine Fintech Chamber to update the tax scheme for buying and selling cryptocurrencies.

The result was the elimination of taxes on these transactions. The measure impacts 25 million accounts in capital markets, “in what the Argentine fintech sector described as a significant step towards a regulatory framework more suited to the reality of the digital asset market.”

The change is of great importance considering that “Argentina has one of the most active cryptocurrency markets in Latin America.” According to the Fintech Chamber, there are 25 million accounts in capital markets in the country, mainly through digital wallets. “Additionally, 6 million people access credit through fintech platforms, with half of those users lacking a prior salary account.”

Until the reform, which could extend to other provincesm, the buying and selling of digital assets in the capital was subject to a Gross Income tax that the industry considered disproportionate, creating disparities compared to the treatment of traditional banks. 

M.Pino

Source: cripto247

(Reference image source: Gustavo Sánchez on Unsplash)   

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Coinbase is officially a member of the Argentine Fintech Chamber. With its participation, it will be able to contribute to the design of effective strategies for the development of the ecosystem in the country.

In this regard, Matías Alberti, Country Manager of Coinbase in Argentina, stated: “Being part of the Argentine Fintech Chamber allows us to participate in spaces for dialogue and collective construction that are key to the development of the industry.”

The exchange’s accession to the organization constitutes a significant step in “strengthening its presence in the country and its commitment to actively collaborate with the local fintech ecosystem.”

Now, Coinbase will play a key role in the dialogue between stakeholders in the Argentine crypto ecosystem. According to Alberti, the platform’s goal is to “contribute our global experience, learn from local talent, and support the growth of an ecosystem that we consider strategic for the region’s future.”

From now on, Coinbase will be part of thematic working groups, training spaces, and direct work with regulatory bodies, among others.

M.Pino

Source: cointelegraph

(Reference image source: appshunter.io on Unsplash)

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La entrada Coinbase is officially part of the Argentine Fintech Chamber apareció primero en Bitfinance.