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Langgam Pos - Cryptocurrency prices, including Bitcoin and other top digital assets, showed varied movements in trading on Saturday (July 27, 2024). Over the past 24 hours, most cryptocurrencies have been in the green zone. However, when looking at weekly or yearly performance, some assets are still under pressure.
According to data from Coinmarketcap, Bitcoin (BTC), the largest cryptocurrency by market capitalization, has strengthened. Bitcoin increased slightly by 1.91% in the past 24 hours and 2.33% over the past week. Currently, Bitcoin is priced at IDR 1.10 billion, maintaining a significant market dominance of 55.4%.
Ethereum (ETH) has weakened over the past week but showed strength in the last 24 hours. ETH rose by 1.40% in the past day but fell by 6.41% over the week. Ethereum is now priced at IDR 53.03 million per coin.
Solana (SOL) has seen a notable increase. SOL rose by 4.39% in a day and gained 7.46% over the week. Currently, Solana is priced at IDR 2.96 million per coin.
Binance Coin (BNB) showed strength in the last 24 hours but experienced a slight decline of 1.28% over the week. BNB is currently valued at IDR 9.43 million per coin.
XRP has returned to the red zone. XRP declined by 1.55% in the past 24 hours but still saw a 4.15% increase over the week. XRP is currently priced at IDR 9,738 per coin.
The meme coin Dogecoin (DOGE) has seen a significant boost. In the last 24 hours, DOGE rose by 4.41% and increased by 7.13% over the week, trading at IDR 2,175 per token.
Stablecoin Tether (USDT) has strengthened by 0.13% in the past day but weakened by 6.43% over the week, with USDT priced at IDR 16,304 per coin.
USD Coin (USDC) weakened by 0.17% in the last 24 hours but gained 0.56% over the week. Today, USDC is priced at IDR 16,304 per coin.
Cardano (ADA) has recovered to the green zone, rising by 4.35% in a day but still down by 4.26% over the week. ADA is currently priced at IDR 6,778 per coin.
The total cryptocurrency market capitalization today stands at IDR 39.421 trillion, up approximately 2.57% in the past 24 hours.
Argentina Updates Crypto Asset Tax Regulations
Recently, Argentina introduced regulations to govern a legislative package previously approved, impacting the inclusion of cryptocurrencies and other undisclosed assets into the country’s tax system.
According to Bitcoin.com, on Thursday (July 25, 2024), cryptocurrency owners in Argentina will be exempt from taxes on up to USD 100,000 or approximately IDR 1.6 billion (based on an exchange rate of IDR 16,164 per USD) held in crypto assets.
To benefit from this exemption, the declared cryptocurrencies must be held with nationally approved Virtual Asset Service Providers (VASPs). Crypto exchanges must be registered in the VASP registry launched in June by the National Securities Commission of Argentina (CNV), the country's securities regulator.
Although many international exchanges remain unregistered, the regulations stipulate that funds held in these exchanges must be transferred to registered exchanges to qualify for the benefits under this law.
Deadline for Declaring Crypto Assets
However, this does not mean that cryptocurrencies will be entirely tax-exempt after declaration. Once included in Argentina's financial system, holders of these assets will be required to pay personal property taxes, income taxes, and other applicable levies.
Taxpayers have until March 31 to declare their cryptocurrencies in accordance with the provisions of this law.
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