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Argentina's Tax Authority Finds Another Undeclared Crypto Mining Farm
Argentina’s tax authority found another crypto mining farm operating without properly declaring its business activities.
Himanshu S.
12:31 26th Oct, 2022

Argentina's tax authority (AFIP for its name in Spanish) uncovered another crypto mining farm that did not properly declare its activities, sending the message that it is continuing to investigate these operations just days after revealing a large crackdown.

The crypto mining farm had enough equipment to generate an estimated $100,000 per year, AFIP said in a statement. Through a previous investigation,  AFIP found that the taxpayer involved had used imported crypto mining equipment themselves instead of commercializing the equipment.

The AFIP and customs officials "detected a cryptocurrency farm of a taxpayer who is not registered with the agency with any activity linked to development of crypto assets," the tax authority said in a press release.

Whether any arrests were made in this case remains unclear. Authorities did not disclose the location of the crypto mine.

AFIP's statement is the latest in a string of announcements sending the message that the agency is focused on investigating crypto mining farms that do not follow the rules for declaring their business activities.

The AFIP announced on Oct. 21 that it broke up an undeclared crypto mining ring in the municipality of Quilmes, Argentina. The so-called "mega operation" led to the arrest of 40 people. The AFIP said last month it had discovered three undeclared mining sites in Lisandro Olmos, San Juan and Cordoba, Argentina.

The AFIP has been especially focused on investigating digital asset operations since its new director, Carlos Castagneto, started his role in July.

These public crackdowns have prompted the nonprofit organization ONG Bitcoin Argentina to clarify that crypto mining in itself is not a crime when mining operations follow local laws.


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