Pause in Trump's Tariffs and Cryptocurrencies**
Recently, former U.S. President Donald Trump announced a 90-day pause on implementing reciprocal tariffs for those countries that have not taken trade retaliatory measures against the United States. However, this pause does not include China, for which tariffs on certain products were increased.
Such announcements often generate volatility in global financial markets, including the cryptocurrency market. Uncertainty in trade policies can lead investors to seek alternative or safe-haven assets, which sometimes boosts the price of crypto-assets like Bitcoin.
In fact, following the announcement of the tariff pause, an uptick in the price of Bitcoin and other major cryptocurrencies was observed. This increase could be interpreted as a market reaction to the expectation of reduced global trade tension (except with China).
**Implications for Argentina**
In Argentina, the cryptocurrency market has been growing and is subject to its own regulatory and tax dynamics.
* **Regulation:** The Argentine government has been advancing in the regulation of crypto-assets wallets, requiring mandatory registration in an official registry to comply with international financial oversight and economic crime prevention standards.
* **Taxes:** Regarding taxes, individual residents in Argentina are not taxed on holding cryptocurrencies, but on the gains derived from their sale, with a rate of 15% on the profit. For companies, the treatment is more complex and may include the revaluation of assets at the end of the fiscal year. Some provinces also apply the Gross Income Tax on cryptocurrency transactions.
**Possible Impact of the Tariff Pause in Argentina**
The pause in tariffs, although not specifically directed at Argentina, could have indirect effects on the local cryptocurrency market:
* **Global Market Sentiment:** A positive sentiment in global markets due to reduced concerns about widespread trade war could boost appetite for risk assets, including cryptocurrencies in Argentina.
* **Capital Flows:** If international investors perceive less global economic uncertainty, there could be an increased flow of capital to emerging markets, potentially including the crypto-assets market in Argentina.
* **Volatility:** Despite the pause, the exclusion of China and the possibility of future trade tensions could continue to generate volatility in the markets, which has historically affected cryptocurrencies as well.
It is important to remember that the cryptocurrency market is highly volatile and influenced by a variety of factors, including regulatory news, technological advancements, and the overall sentiment of the global market. The pause in tariffs is just one of many elements that can influence its behavior.