Wednesday, January 19, 2022

Regulation of crypto assets: interest grows in tax aspect and in creation of own digital currencies

2021 witnessed various initiatives by countries in the region to control flows and apply taxes on transactions. Central bank digital currency initiatives, which already exist in two Caribbean countries, move forwards.

Latin American states increased their attempts to regulate crypto assets and digital assets in general in 2021. The motivations of governments and central banks are repeated in all countries: to prevent operations with crypto assets -known as digital currencies, although they do not fulfill that role- from being used both to launder money of illegal origin and in scams against the population, at a time when it is bombarded with misleading advertising about how easy it is to make money betting on crypto assets.

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