Argentina vs Belgium
Crypto regulation comparison
Argentina
Belgium
Legal
Legal
Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.
Cryptocurrency is legal in Belgium and regulated under the EU's MiCA framework. Tax treatment depends on whether gains are considered normal management of private assets (tax-free), speculative (33% misc income), or professional income (progressive rates). The FSMA has banned distribution of crypto derivatives to consumers.
Tax Type
Income
Tax Type
Varies
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
0-33%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
FSMA (Financial Services and Markets Authority)
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
- Crypto gains taxed as income under the income tax law at progressive rates
- High adoption driven by inflation and capital controls on the Argentine peso
- Exchanges must register with the CNV and comply with AML/KYC requirements
- No legal tender status for crypto; the peso remains the only legal tender
Key Points
- Tax treatment depends on classification: normal portfolio management (0%), speculation (33%), or professional (up to 50%)
- FSMA banned advertising of crypto derivatives and certain crypto products to consumers in 2022
- VASPs must register with FSMA and comply with AML/KYC requirements
- MiCA regulation fully applicable from December 2024
- Belgium has a relatively active crypto community and blockchain ecosystem