Argentina vs Mongolia
Crypto regulation comparison
Argentina
Mongolia
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.
Mongolia adopted the Law on Virtual Asset Service Providers (VPSP) in December 2021, establishing a comprehensive regulatory framework. The Financial Regulatory Commission (FRC) registers and supervises crypto exchanges. Over 12 licensed exchanges serve 850,000+ customers. Crypto mining is legal and growing, with tax incentives for renewable energy use.
Tax Type
Income
Tax Type
Income
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
10-25%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
Financial Regulatory Commission (FRC) of Mongolia
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
No specific 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
- Law on Virtual Asset Service Providers (VPSP) adopted December 2021
- FRC registers and supervises crypto exchanges under VPSP law
- Over 12 licensed exchanges serving 850,000+ customers
- Crypto exchange income is taxable and exempt from VAT
- Mongolia launched blockchain-based OTC securities trading in 2025