Argentina to Implement OECD Crypto-Asset Reporting Framework by 2029

Argentina plans to join a global tax-reporting framework designed to help authorities identify and address tax evasion involving cryptoassets. The system will cover transactions conducted through virtual asset service providers, including platforms registered outside Argentina.

Framework to Expand Crypto Transaction Reporting

The initiative is based on the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework, known as CARF. The framework establishes common reporting standards for cryptoasset transactions and requires participating jurisdictions to exchange relevant information with one another.

Under the system, crypto exchanges and other virtual asset service providers would be expected to collect and report information on certain users and transactions to national tax authorities. That information could then be shared with tax agencies in other participating jurisdictions.

Implementation Target Set for 2029

Argentina is expected to implement the framework by 2029, joining more than 77 jurisdictions that have agreed to adopt the reporting standards on a similar timeline.

The framework is intended to improve tax transparency as cryptoasset activity increasingly takes place across borders. It may also give Argentine tax authorities additional tools to examine whether residents are properly reporting income and holdings linked to overseas crypto platforms.

Focus on Cross-Border Compliance

Because many crypto transactions involve service providers located outside a user’s home country, national tax authorities can face difficulties obtaining accurate information. The OECD framework seeks to address that gap through standardized data collection and international cooperation.

Implementation will depend on Argentina establishing the necessary legal, regulatory and administrative procedures before the 2029 target date.