Argentina’s Comisión Nacional de Valores (CNV) has unveiled a new set of regulations for virtual asset service providers (PSAVs), mandating compliance with standards related to registration, cybersecurity, anti-money laundering, and asset custody. This effort aims to enhance transparency and safeguard consumer interests in the cryptocurrency sector.
The framework—officially known as Resolution No. 1058—was approved after a public consultation and aligns with legislation empowering the CNV to oversee virtual asset service providers.
The guidelines enforce strict operational protocols and impose heavy penalties on companies that facilitate transactions, custody, or intermediary services for digital assets that fail to comply.
Roberto E. Silva, the CNV President, underscored the need to find a middle ground between effective regulation and promoting innovation.
He noted that the regulatory body undertook significant efforts to craft regulations that are both impactful and compliant with the law, striving to mitigate unnecessary costs that could stifle the industry’s expansion. Silva also highlighted the incorporation of feedback from industry participants during the consultation process.
New Regulations
According to the new regulations, PSAVs are required to establish comprehensive information security measures aimed at safeguarding users from cyber risks. They must also implement sound financial protections for asset custody, ensuring the appropriate separation of client funds.
Additonally, providers are obliged to disclose any agreements with third parties, including collaborations with financial institutions, custodians, and foreign affiliates. Annual compliance audits will be mandatory to validate adherence to the established framework.
Entities wishing to operate legally in Argentina must register with the CNV by the specified deadlines. The complete regulatory framework will come into effect on December 31, 2025.
Nonetheless, individuals offering virtual asset services must complete registration by July 1, 2025, while locally registered companies have until August 1, 2025. In contrast, foreign entities are required to register by September 1, 2025.
Extensive Enforcement Authority
The resolution grants the CNV extensive enforcement authority, enabling it to suspend or revoke the licenses of non-compliant providers. In collaboration with judicial authorities, the CNV can also prohibit unregistered PSAVs from operating within Argentina.
Additionally, virtual assets classified as publicly offered securities will continue to be governed by Argentina’s Capital Markets Law (No. 26,831), subjecting them to further oversight.
While the CNV has clarified that it does not regulate cryptocurrencies directly, this new framework marks a significant advancement toward comprehensive oversight of Argentina’s digital asset landscape.
This initiative aligns with global trends, as regulators worldwide strive to mitigate risks linked to digital asset platforms while encouraging responsible growth within the industry.