YPF Luz said that its role would be to supply energy to the unnamed mining giant, and had begun building a 1 megawatt (MW) plant in the heat of Vaca Muerta.
As energy costs rise and Argentina faces thinning power supply, authorities crack down on digital asset mining as locals feel the brunt of the activity atop the dire global economic situation.
Javier Milei's presidential candidacy is marred by controversy over his involvement in an alleged Ponzi scheme that investors say cost them nearly $300,000 in an attempt to lure them out of inflation.
AFIP has seized 1,269 digital asset wallets linked to tax delinquents since February 2021 with the backing of courts around the country, local media reports.
The Customs Authority of Argentina has seized 2,233 block reward mining rigs worth $21 million that it alleges were overvalued in an attempt to evade taxes.
UST, a stablecoin pegged to the U.S. dollar, along with its sister token Luna, plunged to its lowest value—dropping as low as below $0.30 and losing about $40 billion of its market cap in 48 hours.
The directive is applicable to "crypto assets and those whose yields are determined based on the variations that they register," according to the notice released by the Central Bank of the Argentine Republic.
The International Monetary Fund will extend Argentina a $45 billion loan deal, which the Senate approved recently, that includes a clause urging the gov’t to discourage digital currencies.
Indonesia has emerged as the country with the highest interest in digital currencies, ranking ahead of Chile and Argentina, which are in second and third place respectively.
The president of the of the Central Bank of Argentina is concerned about high volatility, lack of legal tender status, cyber-attacks, and operational disruptions with digital currencies.
The bill seeks to allow employees and service exporters to receive part or their full salary in digital currencies in a bid to preserve its purchasing power.