Argentine authorities detected an alleged overbilling scheme involving more than 2,000 crypto mining machines.
- Government of Argentina seizes 2,233 crypto mining machines.
- The imported equipment was not properly invoiced.
- The case contributed to the tightening of customs controls.
The Argentine customs authority has seized a batch of cryptocurrency mining equipment due to irregularities in invoices.
according to several local news media, the General Directorate of Customs detected a maneuver of alleged overinvoicing in the cryptomining machines that arrived last week at Ezeiza, bound for the Free Zone of La Plata. In total, 2,233 sets of various brands were seized, including whatsminerfor a combined value of USD $21.9 million.
The body dependent on the Federal Administration of Public Revenues (AFIP), which reported the case to the Argentine Justice on June 23, said that the maneuver consisted of importing cryptocurrency mining machines from China, but invoiced to a company foreign “LLC” based in the United States at an irregular and higher than market value.
According to reports, the total import overbilling is estimated at US$5,000, as each machine was declared at US$10,000 when in fact they cost around US$6,600 and US$7,700 each.
“The real values of the products, due to the history of recent customs destinations, are in a lower range than that declared in the inspected destinations: USD 5,770 to USD 7,420. In addition, from inquiries to public databases for purchases of this product, the price also differs: USD 6,316 to USD 7,700″, the authority said in a report cited by Infobae.
The case is now being investigated by Judge Pablo Yadarola, who on Monday ordered an investigation of the seized assets. The final figure will depend on the expertise carried out by the investigators to determine the price of each machinery.
Stricter controls at Customs
as pointed out CoinDeskthe The seizure comes amid a shortage of foreign exchange reserves on the balance sheet of the Central Bank of Argentina, which has contributed to which the government harden even more import controls.
As a result of this week’s irregularities, Customs has decided “block all import transit requests with the same Ezeiza-La Plata Free Zone circuit to make an exhaustive analysis of each operation”, reported Infobae. On the other hand, he announced the start of “systemic audits” to all companies that operate in a similar way, as well as a process to carry out “actions of tax inspections of companies and related human persons”.
The authority also ordered an increase in customs controls and called on the Central Bank and the Ministry of Productive Development “to improve foreign exchange control for free zone operations”added the medium.
“You have to take care of the dollars for the production and generation of employment, not for financial speculation”, commented in this line the general director of the Customs, Guillermo Michel.
The news also comes in the midst of a context of high economic inflation and sustained devaluation of the Argentine national currency. In the face of these difficulties, an increasing number of Argentines are seeking refuge in stronger currencies, such as the dollar and even cryptocurrencies. There are also those who take advantage of subsidized energy rates to mine cryptocurrencies.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Depositphotos
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