Argentina’s tax authority has seized more than 1,000 cryptocurrency wallets linked to delinquent taxpayers in the country.
According to a report from local media outlet iProUP, courts across Argentina authorized the seizure of 1,269 cryptocurrency wallets belonging to citizens with outstanding debt to Argentina’s Federal Administration of Public Income (AFIP).
AFIP signaled its intent to go after cryptocurrency wallets belonging to tax delinquents in May, ordering cryptocurrency exchanges and payment service providers to deliver monthly reports on users of their platforms.
Crypto services were requested to verify the identity of clients and keep records of user accounts as well as detailed financial statements including income, expenses, and monthly balances.
With these firms supplying this information to the tax authority, AFIP has been able to enforce embargoes on the holdings in wallets linked to errant taxpayers over the past few months.
AFIP’s current standard operating...
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