The Argentine National Securities Commission (CNV) has officially incorporated Bitcoin (BTC) and the virtual currency exchange Bitget into the official register of virtual asset service providers (PSAV), adding one more platform for Argentines to manipulate digital assets in a legal way.
According to the organization’s own internal data, the approval makes it the 78th company in the country to complete the required formalities, bringing it together with a total of 79 companies in the sector previously registered with local regulators.
This measure brings the company within the current regulatory framework and Establishing it as a subject of obligation to the Financial Intelligence Unit (UIF). Regarding prevention of money laundering and terrorist financing.
The global carrier’s decision to normalize the situation in the South American country is in response to its regional expansion strategy in Latin America, which follows similar measures taken in jurisdictions such as Mexico.
According to data provided by the company, Argentina has a high rate of adoption of digital assets in the everyday economy, with nearly 20% of the population using these tools and more than 15,000 businesses estimated to accept payments with these tools, shaping the domestic market. This is an important point to ensure long-term operational continuity.
Gracie Chen, CEO of the platform, noted that regulatory frameworks for digital currencies continue to evolve across the region, making regulatory compliance increasingly relevant for companies in this sector.
The executive said in a press release sent to the CriptoNoticias editorial team: Argentina represents an outstanding market We continue to operate within the Latin American ecosystem and ensure that we maintain our commitment to adapting to local requirements in order to sustain our activities over the long term.
Other major Bitcoin exchanges registered in Argentina
The process of obtaining a PSAV license in Argentina requires interested companies to: Present a formal set of requirements before CNVThis includes determining legal status, identifying ultimate beneficiaries, and implementing a rigorous compliance and risk management policy manual.
Other platforms of international relevance You have already completed this process within the past few monthsadapting to the inspection regulations that the Argentine state has introduced to monitor the flow of capital in a virtual environment. Among these companies registered in Argentina, the exchanges Binance, Bitfinex, Bitso, Bit2Me, BuenBit, BitBase and Bybit stand out.
This development of institutional normalization comes amid constant debate within the country’s digital asset ecosystem. On the one hand, businesses and financial service providers defend formalization, arguing that oversight will bring legal certainty, reduce the risk of fraud, and open the door for the arrival of institutional capital to boost the industry.
Meanwhile, users aligned with Bitcoin’s original ideals and those in the financial privacy sector have expressed concerns about increased controls.
From this perspective, it is argued that the obligation to report sensitive information to the FIU and the exchange of financial data with state institutions distorts the decentralized nature of the Bitcoin technology. It was originally conceived to be able to operate without the need for a centralized intermediary. It’s not state surveillance.
With this new addition, the Argentine market deepens its tendency toward institutionalization. Global platforms continue to choose to adapt to national regulatory frameworks to ensure continuity of operations in order to balance the demands of public authorities’ oversight with the increasing mass adoption of digital currencies by citizens.
(Tag Translation) Argentina
