A new law could help Argentina regulate its booming cryptocurrency market as the country aims to reduce risks such as money-laundering associated with the digital assets, experts say. In the last year, Argentina saw $85.4 billion worth of crypto transactions, making it one of the largest crypto havens in the world, according to data platform Chainalysis, as Argentines seek to battle triple-digit inflation and a struggling currency. On Wednesday, the Argentine government signed a fiscal package that includes tax amnesty for individuals who declare up to $100,000, including registered crypto assets.
Kelly Ye looks at the three fast-growing blockchain ecosystems that are addressing the adoption challenges for Web3, gaining user adoption, and how they combine the strengths of Web2 and Web3 to create a seamless Web2-like onboarding experience while providing users with the benefits of sovereign ownership in Web3.
One expert told CoinDesk the law does not provide for an obligation, but merely an opportunity to sell, while another alleged that “How they handled this sell-off moved the market and is intervention in public markets.”
