Argentina’s CNV has introduced new regulatory requirements for VASPs, effective December 31, 2025. The framework includes customer-exchange asset segregation, enhanced risk disclosure, and updated AML/TF policies, aligning with FATF guidelines. Stakeholder consultations informed the regulations, but challenges remain regarding crypto taxation.
Argentina’s securities regulator, CNV, has introduced a new compliance framework for virtual asset service providers (VASPs) through resolution 1058, published on March 13. This initiative seeks to strengthen VASP regulatory requirements, aligning Argentina with global standards, particularly following the enactment of Law 27.739, that designated CNV as the oversight body for VASPs.
The new compliance regulations mandate extensive documentation, security plans, and fund reserve levels for VASPs. Additionally, operators are required to disclose operational risks to users, enhancing consumer protection and awareness. The updated approach to anti-money laundering (AML) and terrorist financing (TF) policies will now reflect the expectations set forth by the Financial Action Task Force (FATF).
A significant element of this resolution mandates customer-exchange asset segregation, where customer funds are distinctly separated from exchange funds. This precaution aims to prevent incidents similar to the FTX collapse. Though proposed in Brazil’s legislative discussions, this requirement was deemed too restrictive and was not adopted there.
The development of this framework involved consultations with various stakeholders within the cryptocurrency sector. Roberto Silva, President of the CNV, emphasized the regulator’s focus on creating balanced regulations that foster industry innovation without imposing excessive financial burdens. However, criticisms have arisen from local crypto experts regarding the absence of clear guidance on cryptocurrency taxation, suggesting unequal treatment compared to traditional investments.
The implemented regulations will become effective on December 31, 2025, necessitating VASPs to comply with the outlined standards.
Argentina’s updated regulations for VASPs signify an essential step towards enhancing the compliance landscape for the cryptocurrency industry within the country. With requirements such as customer-exchange asset segregation and revised AML/TF policies, Argentina aims to bolster consumer protection and align with international standards. However, the lack of clarity surrounding taxation for digital assets may present challenges that warrant further attention as the landscape evolves.
Original Source: news.bitcoin.com
