The Comisión Nacional de Valores (CNV) of Argentina has introduced new regulations for virtual asset service providers (PSAV), which forces them to comply with registration, cybersecurity, the fight against money laundering and asset childcare standards to ensure transparency and protection of consumers in the crypto sector.
The regulatory framework – nicknamed resolution n ° 1058 – has been approved following a process of public consultation and aligned with the legislation which grants the CNV authority on suppliers of virtual asset services.
The new rules require strict operational directives and impose severe sanctions for non-compliance with companies facilitating transactions, custody or intermediation of digital assets.
CNV president Roberto E. Silva stressed the importance of finding a balance between effective regulations and promoting innovation.
He said the regulator had worked largely to ensure that the regulations were both effective and aligned with law while avoiding unnecessary costs that could hinder industry growth. Silva also noted that the framework includes the contributions of the industry stakeholders who participated in the public consultation.
New rules
Under new rules, PSAVs must implement solid information security policies to protect users from cyberrencies. They are also required to maintain prudent financial guarantees for the care of assets, guaranteeing good segregation of customer funds.
In addition, providers must disclose agreements with third parties, including partnerships with financial institutions, guards and foreign subsidiaries. Annual audits will be compulsory to verify compliance with the framework.
Companies seeking to operate legally in Argentina must register with the CNV within the designated deadlines. The complete regulatory framework will take effect on December 31, 2025.
However, individuals providing virtual asset services must register by July 1, 2025, while companies formed at the national level have until August 1, 2025. In the meantime, foreign entities must register by September 1, 2025.
Wide application powers
The resolution gives the CNV large powers of application of the law. He may suspend or revoke the licenses of non -compliant service providers and, in coordination with the judicial authorities, prevent unregistered PSAVs from operating in Argentina.
In addition, virtual assets that are eligible for securities offered publicly will remain subject to the silver law on capital markets (n ° 26 831), by placing them under additional surveillance.
While the CNV stressed that it does not regulate cryptocurrencies themselves, the new framework represents a significant step towards formal surveillance of the digital asset sector of Argentina.
This decision combines with global trends, because regulators around the world seek to deal with the risks associated with digital asset platforms while promoting responsible development of industry.
