Argentina Joins 77 Nations in Global Crypto Data Exchange Pact

Argentina will report user transaction data to foreign tax authorities by 2029 under a new OECD standard. This move aligns domestic oversight with international anti-evasion efforts. The country joins a network of 77 jurisdictions committed to automatic data exchange.

The agreement was announced by the Global Forum on Transparency. It adopts the Crypto Asset Reporting Framework. This framework standardizes how nations share financial information.

Reporting obligations start in 2028

Data collection is scheduled to begin in 2028. Full international exchange will follow in 2029. Argentina must first enact internal laws to mandate compliance.

Regulators will issue rules for virtual asset service providers. These entities must submit specific user and transaction records. The deadline creates a tight timeline for legislative action.

Scope of shared financial data

The data includes user identification details. It covers purchases and sales using fiat currency. Records of digital asset exchanges are also mandatory.

Payments made with digital assets fall under the mandate. Transactions involving external addresses must be reported. This extends oversight to cross-border movements previously invisible to regulators.

Global adoption expands to 77 states

Seventy-seven jurisdictions now participate in this framework. This group includes several G20 member nations. Japan and France are also drafting compliance regulations.

Gaël Perraud, Chair of the Global Forum, noted the significance of Argentina's entry. He stated it reinforces international efforts against tax evasion. The network aims to close gaps in global financial transparency.