Argentina vs Kyrgyzstan
Crypto regulation comparison
Argentina
Kyrgyzstan
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.
Kyrgyzstan adopted the Law on Virtual Assets in 2022 requiring licensing for exchanges, mining, and VASPs. Over 120 licensed VASPs operate. Crypto turnover exceeded traditional securities market in 2024.
Tax Type
Income
Tax Type
Income
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
10%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
State Financial Supervision Authority
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
Regulated under Virtual Assets Law
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
- Law on Virtual Assets adopted in 2022 with licensing framework
- Over 120 licensed VASPs active by late 2024
- Three license types: trading operator, currency exchanger, mining operator
- Crypto sector contributed 800M KGS in taxes in 2024
- Virtual assets not recognized as legal tender but circulate under special regime