Argentina’s CNV has launched regulations for VASPs through General Resolution No. 1058. The rules mandate registration, cybersecurity, asset custody, and anti-money laundering protocols for cryptocurrency platforms. The goal is to enhance transparency, stability, and user protection in the crypto market.
Argentina’s National Securities Commission (CNV) has implemented a new regulatory framework for virtual asset service providers (VASPs). This initiative was announced on March 13 through General Resolution No. 1058, which sets forth specific guidelines for cryptocurrency exchanges and digital asset platforms.
The newly established rules require VASPs to adhere to various obligations. These include registration protocols, stringent cybersecurity measures, asset custody requirements, and protocols for preventing money laundering, alongside risk disclosure obligations.
The overarching goal of these regulations is to promote transparency, stability, and user protection within the cryptocurrency ecosystem. This regulatory framework aims to enhance the integrity and security of crypto transactions in Argentina.
The introduction of Argentina’s regulatory framework for VASPs marks a significant step towards creating a secure environment for cryptocurrency activities. By enforcing obligations related to registration, cybersecurity, and asset custody, the CNV aims to foster trust and stability in the digital asset market, ultimately benefiting users and the broader financial system.
Original Source: ihodl.com
