Argentina’s Tax Authority Conducts First-Ever Raids on Secret Crypto Miners

According to the agency, three crypto farms with irregularities were uncovered last week in the South American country.

AccessTimeIconSep 12, 2022 at 5:22 p.m. UTC
Updated Sep 12, 2022 at 7:40 p.m. UTC

Marina Lammertyn is a CoinDesk reporter based in Argentina, where she covers the Latin American crypto ecosystem. She holds no crypto.

Argentina’s tax collection agency (AFIP) conducted raids for the first time in search of secret crypto miners, the agency announced Friday.

  • Last Tuesday, AFIP carried out its first raid in the province of San Juan, where it found an agricultural producer housing crypto mining equipment in a fruit cooling area. AFIP didn’t disclose the amount of equipment discovered, nor the amount of cryptocurrency held by the miner.
  • Last week, AFIP also raided a crypto mining company operating in Buenos Aires, where it was working on a property registered for other commercial purposes. Inside the location, AFIP found 142 rigs and 1,355 video cards.
  • Finally, on Thursday, AFIP held a third raid in the province of Córdoba, although no further details were officially disclosed.
  • Currently, Argentina has no official registry for crypto miners and few companies operate legally. The bulk of miners in the country carry out the activity secretly to avoid paying taxes and to take advantage of residential electricity tariffs, which are heavily subsidized compared to industrial rates.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Marina Lammertyn is a CoinDesk reporter based in Argentina, where she covers the Latin American crypto ecosystem. She holds no crypto.

CoinDesk - Unknown

Marina Lammertyn is a CoinDesk reporter based in Argentina, where she covers the Latin American crypto ecosystem. She holds no crypto.