The OECD Global Forum announced that Argentina has committed to implementing the Crypto Asset Reporting Framework (CARF) and will start automatically exchanging crypto transaction information with other jurisdictions by September 2029 at the latest, becoming the 77th jurisdiction to make a formal commitment.

According to the updated list on September 14, 46 jurisdictions aim for their first exchange in 2027, 27 aim for 2028, and a group including Argentina, Azerbaijan, Mexico, and the United States targets 2029. El Salvador, Georgia, India, and Vietnam remain listed as relevant but have not yet committed. The commitment itself does not immediately impose new taxes but standardizes cross-border crypto information exchange similar to fiat currency accounts.

The framework requires virtual asset service providers to identify users and collect names, addresses, tax residency status, taxpayer identification numbers, as well as records of crypto buying and selling, asset swaps, crypto payments, and outbound addresses. Argentina will send its user data to the corresponding tax authorities and receive corresponding information about residents on overseas platforms for cross-checking with tax returns. Before the exchange begins, CARF must be incorporated into domestic law, and a reporting and due diligence system must be established along with agreements signed by the competent authorities.

Some reports indicate that the domestic rules for service providers to report to tax authorities must be clarified by 2028. Argentina has already established mandatory registration for virtual asset service providers in 2024, covering buying, selling, receiving, lending, and trading. This does not automatically create new tax burdens but makes overseas platform transactions visible to local tax authorities.

The specific reporting period for the first year has not yet been announced. Europe, Japan, the UK, and others are mostly in the 2027 wave, with Argentina and the US in the latest group, trailing behind most financial centers that have already committed to automatic exchanges.

From a market mechanism perspective, this changes offshore exchanges from information black holes to accountable pipelines. The tax arbitrage of "people in Argentina, accounts overseas are invisible" is sold off, while the compliance costs of registered service providers are bought in. Funds shift from unreported cross-border inflows to registered platforms and channels more willing to conduct local KYC; the beneficiaries are tax authorities and licensed service providers, while the pressure falls on overseas platforms serving Argentine residents that are unprepared to report.

Uncommitted jurisdictions can still serve as temporary safe havens, but with each update of the list, the remaining gaps decrease.

Source: Public Information