The Argentina Custom Officers seize 342 crypto mining equipment hidden in shipping containers at the port of Buenos Aires as the country intensifies its crackdown on illegal crypto mining.
Custom officers in Argentina seize 342 crypto mining rigs as the country continues its crackdown on illegal miners. The rigs remained hidden in 14 shipping containers set to be unloaded.
The shipping containers were set to be offloaded at the Port of Buenos Aires. The containers were concealed among several items including cosmetics, children’s toys and pepper spray containers.
The crackdown on mining rigs in Argentina
The General Directorate of Customs (DGA) and the Federal Administration of Public Reserves (AFIP) conducted the raid.
Other items found at the scene include video game consoles, sunglasses and cell phone accessories. The officials claimed that the seized items capped at $5.6 million in market value.
However, the Argentinian government considers the importation of crypto-mining rigs as legal. Meanwhile, the authorities require both the miners and the importers to declare their purchases. The authorities also legally request miners and importers to declare taxes on imported goods.
According to Sergio Massa, the Finance Minister, the law also prohibits imports in certain sectors. The government aims to protect national industrialization interests.
Massa accompanied the DGA and AFIP at the port during the raid. The customs officers claimed that they would halt everything that threatens port operations. The officials will continue to put a stop to everything that threatens the transparency of international trade.
The head of AFIP, Carlos Castagneto, also accompanied Massa at the port. Carlos promised to continue with the agency’s crackdown on crypto mining rigs.
The crackdown shut down several crypto miners across the country. Carlos insisted that he wants an AFIP that works everywhere with no room for resting on Saturdays and Sundays.
Also read: Kazakhstan’s New Tax Rules on Crypto Mining
AFIP’s previous raids
Earlier this month, AFIP raided Cordoba and seized 57 mining rigs. The officials also managed to seize 342 video cards with a market value of $420,000.
Since Carlos took over in August, AFIP doubled its efforts in the crackdown on illegal crypto mining rigs. AFIP claims to have dismantled a range of crypto-mining operations in the country.
Other key areas that AFIP visited include Santa Fe, Marl del Plate and La Plata.
In June, the Argentinian customs office seized $21 million in crypto mining equipment. The customs office claimed that the importers improperly invoiced about $5 million.
The customs office claimed that the actual price did not match the quoted price in the invoice. The machines are capped at $10,000 each on importation. However, the real costs ranged between $6,316-$7,700 each.
The crackdown occurred amid a shortage of foreign reserves on the balance sheet of the Argentine Central Bank. The shortage helped lead to a further tightening of import controls by the government.
