Argentina’s National Securities Commission (CNV) issued on Thursday, March 13th, General Resolution No. 1058.
In a press release, CNV reported that it aims to ensure “user transparency, stability and protection in the cryptocurrency ecosystem.” To do this, you will be subject to obligations related to registration, cybersecurity, asset management, anti-money laundering and risk dissemination.
Rules define the principles and parameters governing PSAV. It includes general rules of conduct and specific conditions for the development of its functions. Furthermore, establish a Initial Framework for Information Security Policy And Prudential requirements are set for virtual assets management and account separation.
According to regulations, PSAVs currently need to notify you of contracts between third parties and customer-related aspects. I’m looking for the standard Ensuring transparency and risk spread It is associated with a virtual asset. All of this is intended to protect users.
The regulations also include beneficial regimes that apply to PSAVs during their persistence in the registry. The requirements for fathers to meet are established.
Since last year, CNV has created a PSAV record with 146 registered people between natural people and corporations. This registration was formed to meet the requirements of the International Financial Conduct Group (GAFI). However, the measure was raised questionable by the Argentine Bitcoin and cryptocurrency community.
According to the new regulations, CNVs can suspend or cancel inscriptions of infringement. Furthermore, PSAV is not registered They can be blocked domestically by court orders. On the other hand, compliance with the system’s annual audit and preventive standards is required.
For PSAVs that were already registered when the solution came into effect, an adaptation deadline has been defined. Natural people will be present until July 1, 2025. Until August 1, 2025, corporations were made up of domestic corporations. It will be composed overseas until September 1, 2025. Those who have decided to form an Argentine company in accordance with No. 19,550 will also have restrictions on September 1, 2025.
The entire standard will come into effect on December 31, 2025. Roberto Silva, president of CNV; He said they worked hard on this regulation.. The aim was to “make it effectively and according to the law.” He said they looked for a balance, saying, “Don’t impose unnecessary costs or unnecessary costs on the industry.”
Silva said, “This work is set up with all the stakeholders in the sector who contributed through public consultations built into these regulations.” He also warned that those who do not meet the requirements and deadlines may not work in Argentina.
The assessment of these regulations began in 2024. Since then, CNV has analyzed the growth of the domestic cryptocurrency market. In March of that year, PSAV registration was launched in response to GAFI recommendations. Public consultations have been held since October 2024 to receive contributions from the sector The resolution approved this week will collect these inputs.
Diego Fraga, an Argentine lawyer who is a tax expert, analyzed the impact of regulations. He confirmed that he has officially made the exchange and custodian activities. This, in your opinion, means greater control by the state.
He considers the demand for minimum assets The actors were able to be excluded. And now we guarantee that platform filtering is expected in the coming months. “CNV has the power to block unregistered sites,” Fraga said.
The resolution arrives at the Argentine cryptocurrency boom. The country has registered high adoption of Bitcoin and stablecoins. This is due to inflation and exchange restrictions. So things, Local exchanges must adapt to new rules.
(TagStoTRASSLATE)Argentina (T)Bitcoin (BTC)(T)Exchange Houses (Exchange)(T)Highlighted Cryptocurrency (T)Latin America
