Argentina vs Botswana
Crypto regulation comparison
Argentina
Botswana
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.
Botswana passed the Virtual Assets Act in 2022, first African country to issue crypto licenses. NBFIRA supervises VASPs. 4 licensed entities as of 2024. Penalties up to P250,000 or 5 years imprisonment.
Tax Type
Income
Tax Type
None
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
No stablecoin regulation
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
- Virtual Assets Act enacted in 2022, effective Feb 22, 2022
- First African country to issue crypto licenses via NBFIRA
- 4 licensed VASPs as of December 2024
- Bank of Botswana assesses domestic crypto risks as minimal
- Unregistered crypto dealers face fines up to P250,000 or imprisonment