Argentina’s CNV has introduced regulations for virtual asset service providers, mandating registration, cybersecurity, asset custody, and risk disclosure to enhance user protection and market stability in the cryptocurrency sector.
Argentina’s securities regulator, the National Securities Commission (CNV), has recently put in place a new set of regulations for virtual asset service providers (VASPs). This framework provides specific requirements regarding the conduct and custody management for cryptocurrency exchanges and digital asset platforms. The announcement, made on March 13 under General Resolution No. 1058, emphasizes the need for registration, cybersecurity measures, asset custody protocols, prevention of money laundering, and risk disclosure by VASPs operating in the nation.
These regulations are designed to enhance transparency, stability, and user protection within the cryptocurrency ecosystem in Argentina. By establishing such a framework, the CNV seeks to provide a structured approach to managing the growing cryptocurrency sector, thereby safeguarding users from potential risks associated with digital assets.
The introduction of new regulations by Argentina’s CNV marks a significant step in the governance of cryptocurrency services. Through these measures, the government aims to ensure compliance, enhance user protection, and promote a stable cryptocurrency environment. Overall, these regulations will likely impact the operational framework of VASPs in Argentina, facilitating a more secure digital asset market.
Original Source: ihodl.com
