Argentina’s National Securities Commission has announced a new regulatory framework for virtual asset service providers, establishing codes of conduct and custody requirements for cryptocurrency exchanges. The regulations ensure registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure. The framework aims to enhance transparency, stability, and user protection in the cryptocurrency market.
Argentina’s National Securities Commission (CNV) has introduced a comprehensive regulatory framework for virtual asset service providers (VASPs), defining the conduct and custody standards for cryptocurrency exchanges and digital asset platforms. Announced on March 13 under General Resolution No. 1058, these regulations mandate VASPs to adhere to specific obligations concerning registration, cybersecurity measures, asset custody practices, anti-money laundering efforts, and risk disclosures.
The implemented regulations are designed to foster transparency, stability, and user protection within the cryptocurrency sector. By laying down a clear code of conduct and stringent operational standards, the CNV aims to bolster the integrity of Argentina’s cryptocurrency ecosystem, thereby instilling confidence among users and investors alike.
The introduction of the new regulatory framework by Argentina’s CNV represents a significant step towards managing the cryptocurrency industry. By enforcing obligations related to registration, cybersecurity, and user protection, the regulations strive to foster a safer and more transparent trading environment. Overall, these measures aim to enhance the stability and reliability of the cryptocurrency market in Argentina.
Original Source: ihodl.com
