Argentina vs Luxembourg
Crypto regulation comparison
Argentina
Luxembourg
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.
Luxembourg is a major European hub for crypto and blockchain financial services. The CSSF regulates VASPs and crypto-related investment funds. Crypto held for more than 6 months is generally exempt from capital gains tax for individuals, making it attractive for long-term holders. Luxembourg hosts several prominent crypto exchanges and fund administrators.
Tax Type
Income
Tax Type
Capital gains
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
0-42%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
CSSF (Commission de Surveillance du Secteur Financier)
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
Regulated under EU MiCA framework; Luxembourg hosts major stablecoin issuers
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
- CSSF oversees VASPs under the Luxembourg AML/CFT framework
- Individuals holding crypto for 6+ months are generally exempt from capital gains tax
- Short-term gains taxed at progressive income tax rates up to 42%
- Major hub for crypto investment funds and blockchain companies
- MiCA framework fully applicable from December 2024