The Argentine crypto sector struggles under a 1.2% transaction tax from 2001, hindering local providers compared to banks. In 2021, a reduced tax rate of 0.075% was briefly established due to internet industry ties. The potential return of the full tax is alarming for crypto businesses.
President Milei’s anticipated reforms to eliminate the tax have not materialized, leading to a stalemate. The Argentine Fintech Chamber has called for the removal of the discriminatory tax that stifles competition and industry growth.
XRP is currently experiencing price fluctuations, trading between 2.54 USD and 2.57 USD. Recent charts indicate potential retracement patterns, raising concerns over sustained bullish momentum.
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