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Tuesday, September 21, 2021

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Dollar STEP 2021: how cryptocurrencies trade when the polls close

On the day that PASO 2021 is settled, the price of the blue dollar fell and its purchase price is $ 182 and the sale price reaches $ 185. Nevertheless, the price of “crypto cash” skyrocketed and ranges between $ 200 and $ 300, that is, $ 115 more than the blue dollar.

What is crypto cash? Today, Bitcoin and Ether are positioned as the two most popular cryptocurrencies in the entire crypto ecosystem. Their main characteristic is that their price moves by supply and demand, therefore, they are volatile digital assets.

DAI, one of the preferred crypto dollars of Argentines.

Instead, there are other cryptocurrencies -such as USDT, DAI and BUSD- whose price is totally stable, in other words, they always have a quote of US $ 1.

These cryptocurrencies with zero volatility are known in Argentine slang as “crypto dollars”, because They have one-to-one parity with the US dollars and serve to take refuge from the volatility of both the peso and Bitcoin and Ether.

What’s more, crypto dollars are known as “counted with crypto”, because Argentines convert their Argentine pesos into digital dollars through virtual wallets and cryptocurrency exchanges and thus can save in foreign currency.

Although its price is usually similar to that of the blue dollar, by PASO 2021, users of the main digital exchanges they began to speculate and the sale price is around $ 192.

Source: Binance.

For instance, DAI, one of the most traded crypto dollars in Argentina, has a purchase price between $ 192 and $ 193 and the sale price is around $ 189. In SatoshiTango and in Bitmonedero, the same crypto dollar it is trading at $ 200.

Source: Coinmonitor.info

There are also posts on Binance to buy DAI from $ 323, $ 289, $ 215 and $ 200.

Source: Binance.



With the popularization of cryptocurrencies, the Treasury’s interest in regulating them grows.

For example, months ago, The Central Bank had asked the banks to send information that allows identifying customers who carry out operations with cryptocurrencies or have accounts enabled for it. And sources from the tax sector indicate that AFIP is also studying the issue.

For the moment, however, the Treasury does not obtain information from those portals that are not based in Argentina, such as Binance. It can be assumed that in the future, with money laundering arguments, this will eventually change.

For example, a month ago, it became known that The AFIP will make it mandatory for exchanges to complete the information regime 8126, a form that must be completed by virtual wallets such as Mercado Pago and Ualá and also now cryptocurrency exchanges.

From now on, it will be mandatory to inform and identify accounts that carry out transactions in cryptocurrencies, the total amounts, the final monthly balance of the accounts and all the modifications that occur. The data must be presented on the 15th of each month.

In 2019, the Federal Administration of Public Revenues (AFIP) of Argentina established the informational regime RG 4614 that obliges local exchanges (exchange houses for cryptos) to report month by month on the movements and client holdings when they exceed $ 10,000 in monthly movements.

However, cryptocurrencies are not regulated in Argentina at the moment and can be purchased 100% online through a mobile application or website.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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