Argentina’s CNV has issued new regulations for VASPs, enhancing compliance requirements, including customer-funds segregation, updated AML policies, and risk disclosures. Effective from December 31, 2025, the framework intends to align with international standards while promoting innovation in the crypto industry.
Argentina’s securities regulator, the CNV, has introduced a new regulatory framework for Virtual Asset Service Providers (VASPs) through resolution 1058, published on March 13. This initiative aligns Argentina’s regulations with international standards, particularly following the approval of Law 27.739, establishing the CNV as the oversight authority for VASP operations.
The new compliance rules require crypto companies to enhance their documentation and security measures, alongside establishing specific fund reserve levels for different VASP categories. Moreover, VASPs must now disclose operational risks to users, thereby improving user awareness and protection.
Additionally, the resolution updates the existing Anti-Money Laundering (AML) and Terrorist Financing (TF) policies to better conform to the guidelines set by the Financial Action Task Force (FATF). A significant aspect of the resolution is the requirement for customer-exchange asset segregation, which mandates that customer funds be kept separate from the exchange’s own assets to prevent incidents like the FTX collapse.
This asset segregation requirement was previously debated in Brazil, where it was dismissed due to concerns about hindering innovation in the industry. The CNV consulted with industry stakeholders while drafting these regulations, with CNV President Roberto Silva emphasizing the goal of balancing regulation without stifling industry growth.
However, local industry members expressed dissatisfaction regarding the absence of cryptocurrency tax regulations in the framework, arguing that digital assets face inequitable treatment compared to traditional investments. The new regulations will take effect on December 31, 2025, compelling VASPs to comply with these updated standards.
In summary, Argentina’s new regulations for VASPs aim to enhance security and compliance with international standards, particularly focusing on customer protection through asset segregation. While the framework is considered a significant advancement, concerns remain over the treatment of digital assets in tax regulations. The CNV’s efforts reflect a commitment to balancing regulatory requirements with the innovation potential of the cryptocurrency market.
Original Source: news.bitcoin.com
