Argentina arrests 40 connected to illegal crypto mining

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Updated October 24, 2022 | Published October 24, 2022

2 mins read

Authorities in Argentina continue to work against illegal crypto mining operations following a similar move in September this year.

Argentina is determined to make sure that clandestine crypto mining operations are not taking place in the country.

To this end, the country’s tax collection agency, Administración Federal de Ingresos Públicos (AFIP), together with the Buenos Aires province authorities conducted 70 raids that resulted in the arrest of 40 suspects connected to illegal crypto mining.

AFIP and authorities were able to detect several locations used for illegal crypto mining. Upon conducting the raids, authorities were able to seize “a large number of video boards” and other paraphernalia used to connect the video cards together and use them for mining operations.

None of the mining operations had a license or were operating as a registered entity.

This new operation resembles a similar move by AFIP which descended upon illegal gambling operators in September and was able to unearth several unlicensed crypto miners which were operating illegally and not paying any tax on their gains.

Other countries in Latin America have also been working actively to limit the reach of illegal mining operations, including Brazil, which has been looking to actively suspend any unauthorized crypto companies.

Brazilian authorities recently targeted one Francisley Valdevino da Silva who allegedly orchestrated a $767m crypto scam.

Argentina and Brazil share a lot of similarities in the way they approach cryptocurrencies. Both nations are keen to develop the crypto economy but remain wary of bad actors.

Local consumers have found economic emancipation in cryptocurrencies as they are constantly worried about the instability of their local central bank currencies.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.
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