en en nl en en en en en nl en en en en en en lv es en en en eo es en nl en en en en en es es es tr fr en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en fa en en en en en en en en tr af en en en en en en en en en en en en en en en war en en en en en en en en en en en en en en es en en en en en es es en tl es nl en en en vi en en fr en en en en en en en en fr war en en en en en de en es pt en en en en en en en en en de en en en en en sv ko ms zh es en en eu fi sv es ru de eu es nb en ar sl uk en nl en en en en en lt en en en en en en en en en en en en en en en en en en en en en en en en en en en en fa en en en en en en en en en en en en en en en en en en en en en en en en
Argentinian Tax Authority Wins Landmark Case to Confiscate Funds From a Digital Account – CryptoScoop
Your window into the world of crypto
Read Time:2 Minute, 19 Second
The Argentinian Tax Authority (AFIP) has won a historic case to seize taxpayer funds from a digital account. The case, which was won in an appeal in the Federal Chamber of Mar del Plata, might bring about more seizures of this kind and include cryptocurrencies as part of a stricter policy of the organization. Argentinian […]
Argentinian Tax Authority to Seize Funds From Digital Account
The eyes of regulators around the world have turned to fintech and crypto companies and their operations. The Argentinian Tax Authority (AFIP) has recently won a landmark case in the area, allowing it to seize funds from a digital account in the country to pay tax-related debts. The request, which was first denied by a judge and then accepted in an appeal at the Federal Chamber of Mar del Plata, may be the first of many seizures of this kind.
The institution will be able to confiscate the totality of the funds owed to the state, adding 15% more for interest and processing charges. The chamber states that it doesn’t find any reason to not consider these and future funds, which were held in a digital Mercado Pago account, as part of the heritage of the account holder.
Furthermore, the order declares that “the rise of economic and financial activity through the use of digital accounts imposes the need to interpret the law in accordance with the current circumstances,” and that these technologies cannot become evasion mediums for taxpayers.
The organization added this kind of wallet to its list of assets which can be confiscated in February.
Cryptocurrency Might Also Be Confiscated
In the eyes of analysts, the same criteria applied to digital accounts might be used to confiscate cryptocurrency. Eugenio Bruno, a crypto and fintech specialized attorney, told Iproup that cryptocurrency assets fulfill functions of units of account and stores of value, and can also be used to make payments.
In this way, they could be seizable due to their money-like capabilities. However, the management of these assets is determined by the possession of their private keys, and that’s when an eventual seizure can be difficult to execute.
In cases where crypto assets are held through exchanges, the eventual AFIP order may indicate that the private keys corresponding to digital accounts of taxpayers affected by the embargoes cannot be used to arrange transfers.
However, when these keys are not held by institutions the applicability of the criteria gets tricky, as the user might not present the private keys of their wallet to the authorities.
What do you think about the seizure of digital accounts in Argentina Tell us in the comments section below.
Leave a Reply Cancel reply
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Federal Reserve Jerome Powell
Fed Chair Powell Sees ‘Real Need’ for More Appropriate Defi Regulation Citing ‘Very Significant Structural Issues’
Federal Reserve Chairman Jerome Powell says decentralized finance (defi) has “very significant structural issues,” emphasizing a “real need” for more appropriate regulation of the defi ecosystem. Fed Chair Jerome Powell on Defi Regulation Federal Reserve Chairman Jerome Powell talked about the regulation of decentralized finance (defi) Tuesday during a panel discussion on digital finance hosted […]
Russian Exchanges Ready to Launch International Crypto Payments, Lawmaker Reveals
Digital Neobank Nubank Reaches 70 Million Customers in Latam; Almost 2 Million Have Purchased Crypto
Global Manhunt for Terra Luna Founder Do Kwon After Interpol Issues Red Notice
New York’s Martin Act
More Than a Half Dozen US Securities Regulators File Actions Against Crypto Lender Nexo
Your window into the world of crypto
Copyright © 2022 CryptoScoop Copyright All rights reserved
Theme: True News By Themeinwp. Powered by WordPress.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.