Worldcoin resellers are in the crosshairs of organizations in Argentina

Given the high costs of living in Argentina, citizens are looking for new ways to earn additional income, and one of the options that is emerging today is to become resellers of Worldcoin (WLD). These people keep cryptocurrency accounts (previously registered with iris scanning) and the tokens contained in them, obtaining profits quickly and without great efforts.

The resellers work as a team with the coleros, who are in charge of making lines or queues for other people in the points established by Worldcoin in different areas of Argentina. These resellers guide people to scan their irises using a mobile phone they have provided.

Once the procedure is completed, the reseller delivers a sum of money through their bank accounts or cash payment to the person who has scanned their iris. This, in exchange for the wallet with Worldcoin tokens.

The reseller then negotiates a payment with the queue responsible for lining up those who will have their irises scanned. All this as a final procedure of an agreement that will allow the reseller to receive the 3 tokens that Worldcoin transfers to its users every 15 days. It is a basic income that Sam Altman’s project aims to deliver to all people on the planet.

In this way, both models, resellers and collectors, take advantage of the vulnerability of people seeking extra income through Worldcoin, generating an ethical debate about the exploitation of need in times of economic crisis.

However, operating in this way is not illegal in Argentina, although it should be taken into account that resellers are in the crosshairs of organizations such as the National Securities Commission (CNV) and the Federal Administration of Public Revenues (AFIP).

This is stated by Sebastián Domínguez, director of SDC Asesores Tributarios, who warns that Resellers of WLD tokens may be required to pay taxes. This happens because if large amounts are transferred and are not justified, through their bank accounts, then problems may arise with the AFIP.

It is due to General Resolution 5512/2024, in force since June 1, which indicates that the minimum amount from which entities must alert the agency is 700,000 pesos (770 US dollars).

It is also clarified that entities cross information automatically, therefore, If a Worldcoin reseller is not registered as a taxpayer, the bank may withhold or reject transfers and ask that the origin of the funds be justified. It is also possible to close the account and create a Suspicious Transaction Report (ROS) with the Financial Information Unit (UIF).

All of these new mechanisms are part of the regulations established by regulators and approved last March. Based on this, the Penal Code was modified to introduce the figure of a registry of cryptocurrency service providers in which all companies and people dedicated to the trading of virtual assets must be registered.

Meanwhile, Worldcoin continues its advance in Argentina, despite the fact that the cryptocurrency project continues to generate controversy. As CriptoNoticias previously reported, there are those who describe the initiative led by Sam Altman as “cyberperonist” and in Peru they say that scanning the iris “is like selling your organs.”