BCGAME - Free 5BTC Daily Bonus!In a significant move for Argentina's economic sector, the country is aiming for an integration of Bitcoin and tax reform. Argentina’s President Javier Milei highlighted innovative reforms in the country that have the potential to bring about significant change in the financial sector.
In her speech, Milei shared her proposals and plans for 2025 that focus on greater economic freedom in the country, which will include allowing citizens to carry out transactions with any currency, such as Bitcoin, in addition to traditional fiat currencies.
“We are announcing a currency competition scheme so that all Argentines can use the currency they want in their daily transactions. You will be able to make transactions in the currency you want, believe it or not, we are doing this. This means that from now on, every Argentine will be able to buy, sell and make money in dollars or in the currency they want, except for paying taxes, which for now will continue to be in pesos,” he said in his speech.
Milei too stressed his ultimate goal in Mercosur as being “to increase the autonomy of the organization’s members in relation to the rest of the world, so that each country can negotiate freely with whoever it wants, as it sees fit.” In this sense, the president of Argentina announced that the first objective will be to promote a free trade agreement with the United States next year.
As part of his tax reform, the Argentine president also announced his plans to cut taxes by up to 90%.
“My team is currently finalizing a structural tax reform that will reduce the amount of national taxes by 90% and return to the provinces the fiscal autonomy they should never have lost. So next year we will see a real tax competition between Argentine provinces to see who can attract the most investment,” he said.
With the integration of Bitcoin, the measure announced by Milei mirrors El Salvador's Bitcoin adoption model, but was designed for Argentina's needs.
El Salvador and Argentina join forces to lead cryptocurrency regulation in Latin America
In a move that promises to revolutionize the cryptocurrency scene in Latin America, El Salvador, the first country to adopt Bitcoin as legal tender, and Argentina have announced a strategic partnership to develop robust and innovative regulations for digital assets.
The initiative, which has been under discussion for some time, has taken shape with the signing of a formal agreement between the heads of the securities commissions of both countries. The collaboration between these two pioneering nations in the crypto sector has the potential to set a new standard for cryptocurrency regulation across the region.
