Government of City of Buenos Aires launches 4 measures to be “leader of cryptocurrencies”

The Government of the City of Buenos Aires announced that it promotes measures to enhance its technological-economic development and position itself as a world leader in the use of cryptocurrencies, through a new program called BA crypt.

This contemplates measures to modernize the city’s tax system: the objective is to facilitate foreign investments, to innovate accompanying the growth of new industries and position Buenos Aires as a crypto referent in the world.

Specifically, the program consists of four initiatives that seek to generate a more agile, transparent and adapted environment to the dynamics of the new economic context, according to it.

1. UPDATE OF THE ECONOMIC ACTIVITIES NOMENCLADOR:

The sale of cryptocurrencies will have its own category, simplifying and facilitating the tax declaration. The nomenclator, a record, is used to classify what type of activity each person or company performs when submitting their tax declaration.

With this update, new activities are added such as those linked to cryptoactive ones, so that those who work in these sectors can have more clarity and simplicity when taxing, at no fiscal cost and facilitating the crossing of information between jurisdictions.

2. Exclusion of the Banking Revenue Collection Regime for PSAV:

The exclusion of virtual asset services suppliers (PSAV) of these regimes will mean less bureaucracy for companies in the cryptocurrency sector. The new nomenclator will identify these and avoid retentions that compromise the working capital of companies.

“This implies greater legal certainty and clear rules of the play for the sector,” says the government statement.

3. Differential tax base for the sale of crypto:

Currently, if a company buys and sells cryptocurrencies, you have to pay gross income for the total amount of the operation. Therefore, a change in the calculation of the tax is proposed so that it is only paid on the price difference, thus giving it a treatment assimilable to that of other instruments used as means of payment or reservation of value.

For the government, this provides clarity, encourages the formal registration of these companies and becomes an attraction to develop the activity in the city. “The intention is to continue promoting that these types of companies are based in Buenos Aires territory,” says the announcement.

4. Payment of non -tax procedures with crypto:

At the moment, it is possible to pay with cryptocurrencies through a QR code both taxes and ABL, patents or gross income, as well as non -tax procedures such as driving licenses or traffic fines. However, this only allowed some virtual wallets.

Therefore, the Government of the City of Buenos Aires works that, through an aggregator provided by the city, neighbors and companies can do so from any Wallet, directly, faster and more simplely.

Jorge Macri: “The goal is for the city to be a world leader in crypt”

Being emphatic to the intention of the program, Jorge Macri, head of the Government of the City of Buenos Aires, declared before the initiative: “The objective is that the city be a world leader in crypto. We already have the human capital and now we are generating the tools by reducing the bureaucracy to facilitate the fulfillment of the taxpayers and accompany the arrival of the new companies that are installed here”

According to your data, in the city of Buenos Aires, 10 thousand people charge abroad via cryptocurrencies or paypalwhile the use of Pix grows as a means of payment in such assets and weights.

Meanwhile, he argues that in Argentina there are more than 10 million cryptocurrency accounts, which emphasizes that it is The equivalent of 22% of the volume of Latin Americaaccording to data from 2024.

The announcement took place at The Slow Kale bar, in Collegiate, one of the city’s shops that accepts payments with cryptocurrencies. The chief of Cabinet, Gabriel Sánchez Zinny, accompanied the Minister of Economic Development, Hernán Lombardi, the Minister of Finance and Finance, Gustavo Arango, and the Undersecretary of Investments of the city, Augusto Ardiles.

Of the encounter Several representatives of the technological and cryptocurrency financial world participatedincluding Mario López, president of the Argentine Chamber of Fintech and Co-Founder of Poinnot Technology Studio, Teófilo Blessed, director of Public Affairs in Argentina, Jimena Vallone, executive director of the Argentine Bitcoin NGOs.

Likewise, Candela Fazzano, Ecosystem Lead of Devconnect in Ethereum Foundation, Andrés Ondarra, director of Binance for Argentina and the Southern Cone, Maximilian Manuel Beaudroit, Co-Founder de Belo, Alejandro Rothamel, director of Legal Affairs of Ripio, and Marco Chacin, Bitget International Relations Manager.