{"id":125092,"date":"2025-03-14T17:15:48","date_gmt":"2025-03-14T17:15:48","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125092"},"modified":"2025-03-14T17:15:48","modified_gmt":"2025-03-14T17:15:48","slug":"argentina-finalizes-rules-for-virtual-asset-providers","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125092","title":{"rendered":"Argentina finalizes rules for virtual asset providers"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsArgentina\u2019s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions.\u00a0<br \/>\nThe regulations were published on March 13 by the National Securities Commission, also known as CNV, under General Resolution No. 1058.\u00a0<br \/>\nAccording to a translated version of the announcement, the regulations impose \u201cobligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure\u201d on VASPs operating in the country.<br \/>\nThe stated goal of the rules is to guarantee \u201ctransparency, stability, and user protection in the crypto ecosystem,\u201d the announcement said.<br \/>\nArgentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV.\u00a0<br \/>\nSource: Diego FragaSince 2024, VASPs operating in Argentina have been required to register with the registry of virtual asset service providers, also known as PSAV. According to the new rules, registrations may be revoked for noncompliance, and any company operating without registration may be blocked by court order.\u00a0<br \/>\nIndividuals who are registered with the PSAV have until July 1 to conform to the new rules. Companies incorporated in Argentina have until Aug. 1, and those incorporated abroad have until Sept. 1.<br \/>\n\u201cThose who do not comply with the established requirements and deadlines will not be able to operate in Argentina,\u201d said Roberto E. Silva, the CNV\u2019s president.\u00a0<br \/>\nRelated: Argentina\u2019s crypto adoption hopes dim after Milei\u2019s LIBRA memecoin scandal<br \/>\nDespite LIBRA scandal, crypto adoption rising in Argentina<br \/>\nAs global law firm DLA Piper explained, Argentina\u2019s push for clearer crypto regulations intensified one year ago after the CNV implemented registration requirements and said crypto issuers would be subject to securities laws.\u00a0<br \/>\nThe regulatory pivot came amid a growing wave of crypto adoption in the country, which was partly driven by the rapid depreciation of the Argentine peso.<br \/>\nBy mid-2024, crypto adoption in Argentina had surged as locals flocked to stablecoins like Tether\u2019s USDt (USDT).<br \/>\nAn October Chainalysis report determined that Argentina had overtaken Brazil as the largest Latin American country for crypto inflows at roughly $91 billion between July 2023 and June 2024.\u00a0<br \/>\nArgentina tops Latin America\u2019s crypto adoption list in terms of value received between July 2023 and June 2024. Source: Chainalysis\u00a0Crypto adoption trends remain positive in the face of the LIBRA scandal involving President Javier Milei. As Cointelegraph reported, Milei publicly endorsed the memecoin before it suddenly plunged in value, fueling allegations of a rug pull.<br \/>\nMagazine: Caitlyn Jenner memecoin \u2018mastermind\u2019s\u2019 celebrity price list leaked<a href=\"https:\/\/cointelegraph.com\/news\/argentina-finalizes-rules-virtual-asset-providers?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsArgentina\u2019s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125092"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125092"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125092\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125092"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}