Latam Insights: Inside Argentina’s Tax Relief for Exchanges and El Salvador’s Growing Bitcoin Stack

Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, Argentina issues tax exemptions to VASPs, Cuba approves reforms to open its economy, and El Salvador keeps adding bitcoin.President Milei Exempts Registered Crypto Exchanges From Argentina’s ‘Cheque Tax’ President Javier Milei has issued an executive order declaring tax exemptions for virtual asset service providers (VASPs) registered in Argentina. The measure aims to increase the inclusion of crypto exchanges in the Argentine financial products market, leveling the playing field with traditional institutions. The “debt and credit” tax, commonly known as “cheque” in Spanish, affected flows going in and out of crypto exchanges since November 2021, when former President Alberto Fernández issued executive order 796/2021, which included traditional banks in these exemptions but explicitly excluded operations involving crypto assets. Executive Order 475/2026 extends these exemptions to VASPs, stating that it was necessary to “adapt the regulations applicable to certain actors in light of technological advances and the resulting new regulatory framework, and, on the other hand, to equalize the conditions of entities that—while carrying out activities of a similar nature—are subject to different tax treatment.” Cuba Passes 176 Historic Reforms to Open Its Economy to Private Banks and Real Estate On Thursday, the National Assembly of Cuba passed a set of 176 reforms to liberalize the Cuban economy, which has traditionally been state-driven, and to open several sectors, including the financial sector, to private capital. The changes would allow private investment to enter real estate development on the island, enabling the state to sell part of its properties to national and foreign individuals and institutions, walking back the state-ownership exclusivity characteristic of the communist model. The existence of private banks, overseen by the state, would also be allowed under these new rules, as the rise of businesses in Cuba with over 100 employees. This would pave the way for the surge of large private companies. El Salvador Adds to Bitcoin Reserve Again as Daily Buys Push Stack Past 7,680 BTC El Salvador has once again added to its Strategic Bitcoin Reserve, summing up its strategy in four words, i.e., “Buying the dip, every day.” The latest buy continues a routine that has become a defining feature of President Nayib Bukele’s economic policy. The country’s reserve now stands at 7,687 BTC, valued at more than $510 million, according to recent counts. Bitcoin.com News reported that El Salvador has been treating market weakness as an invitation to add to its national stack, scooping up coins even as bitcoin slid close to $66,000. Between January and April alone, authorities added more than 1,600 coins, consistent with a long-running policy of acquiring one bitcoin per day regardless of short-term volatility.