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Milei Exempts Registered Crypto Exchanges From Argentina's 1.2% Cheque Tax
Milei's decree extends the 1.2% cheque tax exemption to registered crypto exchanges, leveling the field with banks. Users will save on deposit and withdrawal fees.
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President Javier Milei signed an executive order exempting registered virtual asset service providers (VASPs) from Argentina's 1.2% "cheque tax" on money flows. The measure, published Friday, extends to crypto exchanges the same tax treatment that traditional banks have held since 2021.
The tax – formally a levy on debits and credits to bank accounts – had applied to deposits and withdrawals at crypto exchanges since November 2021, when former President Alberto Fernandez's decree 796/2021 explicitly excluded crypto operations from the bank exemption. The new order, 475/2026, removes that exclusion for VASPs registered in Argentina.
"It was necessary to adapt the regulations applicable to certain actors in light of technological advances and the resulting new regulatory framework," the decree states, "and, on the other hand, to equalize the conditions of entities that – while carrying out activities of a similar nature – are subject to different tax treatment."