Argentina tax officials and naval security officers recently announced the successful thwarting of a significant bitcoin mining hardware “smuggling” ring. According to reports from La Capital Mar Del Plata and 0223, the Argentine Naval Prefecture (PNA) conducted multiple raids in collaboration with the national tax authority, the Administración Federal de Ingresos Públicos (AFIP).
‘bitcoin Mining Hardware’ Smugglers Thwarted?
The authorities revealed that the group managed to smuggle “hundreds” of “high-end cell phones, video cards, and components for cryptocurrency mining” into the country. Additionally, they alleged that the ring utilized “crypto investments” to launder profits and evade detection by law enforcement agencies.
Visual evidence of the seized money and items was published by the state agencies, including an image of customs officers standing proudly next to cardboard boxes adorned with the Canaan logo. Canaan is renowned in the crypto sphere for its production of ASIC bitcoin (BTC) mining hardware.
Under Argentinian regulations, only companies with permits are permitted to import dedicated crypto mining rigs. This revelation suggests that the smugglers may have cloaked their illicit activities by using a small storefront as a facade and storage facility for illegal crypto mining equipment.
Agents Seize Money and High-end Phones
Law enforcement officials disclosed the confiscation of “more than 30 million pesos” (equivalent to over $31,000) and $19,000 in US dollars during the operations. Multiple raids were conducted, including in Mar del Plata and Bahía Blanca, resulting in the apprehension of four individuals—two men and two women—charged with smuggling and money laundering-related offenses.
Furthermore, officers discovered a motor vehicle, various electronic items, and other assets linked to the case. A corporation suspected to be at the core of the illegal operation was also under investigation, with the total confiscated assets assessed at “over $624,000.”
In 2022, the AFIP cracked down on clandestine bitcoin mining facilities in atypical locations, such as a livestock farm and a luxury apartment complex. more recently, the agency has expressed its commitment to combatting illegal Worldcoin (WLD) resellers and enforcing anti-money laundering measures across all crypto exchanges operating in Argentina.
The latest move by the tax authority reflects its ongoing efforts to ensure compliance with anti-money laundering protocols in the country’s crypto sector. All platforms offering crypto services in Argentina are now required to adhere to stringent anti-money laundering regulations to maintain regulatory compliance.
