Argentina’s CNV has issued a new regulatory framework for VASPs, introducing compliance measures including customer-exchange asset segregation and updated AML/TF policies. These regulations are aimed at enhancing user protection and aligning with international standards, following Law 27.739. The framework is set to take effect on December 31, 2025, but concerns remain regarding taxation of digital assets.
Argentina’s securities regulator, the Comisión Nacional de Valores (CNV), has introduced a new regulatory framework for virtual asset service providers (VASPs). This development follows Law 27.739 and aims to align Argentina with international standards in cryptocurrency regulation. The resolution, published on March 13, outlines new compliance requirements for VASPs, focusing on customer-exchange asset segregation, extensive documentation, and security protocols.
Key features of the resolution include the obligation for VASPs to ensure that customer funds are kept separate from operational funds, enhancing user protection against potential financial failures like the FTX incident. Furthermore, VASPs must establish fund reserve levels for each type of service they provide, thereby maintaining financial stability within the sector. This regulatory approach also updates Anti-Money Laundering (AML) and Terrorism Financing (TF) protocols to align with the Financial Action Task Force (FATF) regulations.
The framework was developed with input from cryptocurrency stakeholders to balance regulation and innovation. Roberto Silva, President of the CNV, emphasized their commitment to effective regulation without imposing undue burdens on the industry. Despite this collaborative effort, industry insiders expressed concern about the lack of clarity regarding taxation for digital assets, which they believe places them at a disadvantage compared to traditional investments.
The new regulatory framework will take effect on December 31, 2025, requiring VASPs to comply with these updated regulations by this date, heralding a new era of accountability in the Argentine cryptocurrency landscape.
The recent regulatory measures instituted by the CNV signal Argentina’s commitment to enhancing the security and compliance of its virtual asset service providers. By instituting financial safeguards such as asset segregation and updating compliance with international standards, the country is aligning itself with global best practices in the cryptocurrency sector. However, concerns regarding equitable tax treatment for digital assets remain, suggesting that further legislative efforts may be necessary to support the growth and fairness of the industry.
Original Source: news.bitcoin.com
