Crypto news update: Argentina Mandates Operating Permits for Crypto Exchanges
Argentina’s top financial regulator has announced that crypto exchanges must apply for operating permits, a move that affects both individuals and legal entities. Vendors selling crypto in the country must now register with the “Virtual Asset Service Providers Registry (PSAV).”
The new regulation applies not only to Argentine citizens but also to foreigners trading cryptocurrencies within the country. The National Securities Commission (CVM) will require all vendors to provide full names, dates of birth, addresses, tax codes, and telephone numbers. Vendors must also supply their website addresses, if applicable, and their usernames on social media networks.
Successful applicants will be required to display their CVM registration numbers on their websites or social media pages to inform visitors of their compliance. Companies and private vendors have up to 45 days to comply with these new rules. The regulations will come into effect once they are published in the Legal Gazette (Boletín Oficial de la República Argentina).
This development follows a recent government decree allowing domestic companies to buy, accept, and hold cryptocurrency. Earlier this year, top Argentinian regulators met with their counterparts from El Salvador to discuss the latter’s adoption of Bitcoin (BTC).
The CVM’s ruling includes a definition of “virtual assets,” describing them as “digital representations of value that can be traded and/or transferred digitally and used for payments or investments.” This move comes as Argentina aims to regulate the crypto market amid increasing concerns about money laundering.
