Hello dear friends, in this opportunity I come to share with all of you a very distressing situation that has been happening and that affects the cryptocurrency market, I am referring to the incredible case of how in Argentina have been executed massive raids to mining farms.

The NGO Bitcoin Argentina released a statement clarifying that Bitcoin and cryptocurrency mining is not an illegal activity in that country. This comes days after several raids were carried out on miners by the Federal Administration of Public Revenue.

As a result of these operations, many people had doubts about the legal status of Bitcoin mining in Argentina, according to the press release. The NGO is emphatic in informing that this activity is not typified as a crime in the Penal Code, therefore "it is not a clandestine or illegal activity.

The NGO clarifies that the seizures and raids were for equipment with alleged import irregularities. In none of the cases there was a violation of mining regulations.

The statement reads as follows "We want to bring peace of mind to all users who mine cryptocurrencies in the face of the confusion and fear generated by these erroneous readings about the operations. As long as a regulation of another nature is not breached, as happened in these cases, mining can be carried out, both home and commercially."

According to the press release, the NGO is working to request the Executive and Legislative Branches to create a regulatory framework that will allow the necessary regulations to be issued for this growing industry within the Argentine territory.

SOURCES CONSULTED

Forkast. Argentinian tax agency conducts first-ever raids on illegal crypto mining farms. Link

OBSERVATION:

The cover image was designed by the author: @lupafilotaxia, incorporating image: Cryptotimes