On June 27, 2024, the Argentine National Congress passed Law No. 27,743 (the “Law”) allowing the regularization of undeclared assets. The regularization program covers a variety of assets, including cash, property, stocks, bonds, personal property, credits, rights and virtual assets.
Only “local” crypto-assets may be regularized, which will be considered as such as long as the custodian of the crypto-assets is registered in the registry of Virtual Asset Service Providers (“PSAV”) under the supervision of the National Securities Commission (“CNV”).
On the other hand, although most of the assets will be valued at the time of regularization, the laundering law provides that crypto-assets will be valued taking into account the date of acquisition or the date of regularization, whichever is more recent.
The term to adhere to this Asset Regularization Regime will be extended until April 30, 2025. The National Executive Power may extend such term until July 31, 2025, inclusive.
This regulation came into effect on July 8, 2024.
