Latam Insights: Argentina Tax Relief, Cuba Reforms, and El Salvador's Growing Bitcoin Stack
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America. In this edition, Argentina provides tax exemptions to registered exchanges, Cuba approves economic reforms, and El Salvador expands its Bitcoin holdings.
President Milei Exempts Registered Crypto Exchanges From Argentina’s ‘Cheque Tax’
President Javier Milei has issued an executive order exempting registered virtual asset service providers (VASPs) from a tax on debt and credit transactions, known as the ‘cheque tax.’ This measure aims to level the playing field between crypto exchanges and traditional financial institutions. The tax had applied to flows through exchanges since November 2021, under former President Alberto Fernández. Executive Order 475/2026 extends the exemption to VASPs, citing the need to adapt regulations to technological advances.
Cuba Passes 176 Reforms to Open Its Economy
Cuba’s National Assembly has approved 176 reforms to liberalize its state-driven economy, opening sectors like real estate and banking to private capital. These changes allow private investment in real estate and permit the state to sell properties to national and foreign entities. The reforms also enable private banks and businesses with over 100 employees, paving the way for large private companies.
El Salvador Adds to Bitcoin Reserve
El Salvador has added to its Strategic Bitcoin Reserve, following a daily buying strategy. Its holdings now exceed 7,687 BTC, valued at over $510 million. Between January and April, the country added more than 1,600 coins, consistent with its policy of acquiring one bitcoin per day, regardless of market volatility.