“The father and son Argentina demands for Bitcoin exchanges are ridiculous and unnecessary.”

Argentina’s National Securities Commission (CNV) has implemented new regulations requiring minimal net assets from virtual asset service providers (PSAVs) to operate domestically.

Regulations target platforms such as Bitcoin Exchange and other companies in the sector; Set a range from $35,000 to $150,000according to the supplier category.

Ricardo Mifra, president of an Argentine NGO, believes these values ​​do not reflect market reality. As a result, it is overloaded for small operators and insufficient for large platforms.

Regulations recently published by CNV are trying to ensure solvency for companies operating in cryptographic operations and filter out companies that are not financially stable. The 9th article details the obligation to maintain minimum capital. Classify PSAVs in five different categories.

The first involves exchanges that handle cryptocurrency and Fiat money. A net minimum heritage of $150,000. The second covers exclusive exchange platforms between cryptographic actives.

The third category focusing on virtual asset transfer services calls for $75,000. Meanwhile, the fourth one for custody companies also has a $150,000 set. Finally, the fifth category that brings together financial services platforms linked to digital assets offers or sales; Establish a minimum of $35,000.

This scheme has a clear purpose. It’s about protecting users and enabling the platform to address operational or financial issues. However, the application of these amounts opened up discussions about their effectiveness.

“They are not representatives.”

Mihura pointed out that it encrypts the claimed assets that are not proportional. “The problem with these amounts is that they are not representative,” he said.

For small operators, $150,000 can be an unattainable and “very tough” barrier, but in exchange, to detain millions of dollars of cryptoactive, The appearance is ridiculousin your opinion.

Furthermore, he criticizes the standard for failing to properly distinguish between those who provide custody services and those who only promote exchange. In some cases, it generates unnecessary requests. On this, Mihura asserts that there is no need for a heritage volume.

CNV also specifies that natural people can only operate in categories 1 and 2, restricting participation in ecosystems. For PSAVs that operate in multiple categories, Minimum net worth is the net worth of the most demanding categoryseeking uniformity, which could complicate the registration of companies with hybrid models.

The solution excludes mere emissions of cryptocurrency from these requests. It focuses on people who provide services related to commercialization or custody.

The minimal net worth theme is not a small detail. In the context of volatility and risk-specific encryption, financial support can make the difference between platform continuity and its collapse.

CNV claims this requirement Strengthen your market trustWhile reducing the presence of small serious actors. However, the lack of volume flexibility could limit innovation in Argentina’s rapidly growing sectors and leave it to early ventures.

CNV has coordinated its regulatory framework since 2023 to include PSAV in its orbit, in line with the International Financial Conduct Group (GAFI) recommendations, as reported in Cryptootics.

These measures respond to an increase in the use of cryptocurrency in the country; It is driven by inflation and exchange restrictions. However, these regulations see an over-control attempt, rather than promoting sector development.

Mihura, a training lawyer, emphasizes another point. The regulations do not take into account the characteristics of each type of PSAV. As a platform that connects buyers and vendors only, for those who don’t protect their funds, The $150,000 requirement seems disproportionate.

In contrast, for large exchanges that handle billionaires’ wallets, The amount does not represent an important issue or guarantee true protection for the user.. This disparity questions CNV’s ability to balance market oversight and growth.

Companies show compliance with standards

We are already feeling the impact of regulations. Some small operators will assess whether they are able to meet their requirements. The most integrated platform coordinates the strategy, though.

In any case, the environment between PSAV is positive as this new regulation, as reported by the measure, believes that this new regulation will provide regulatory clarity to the sector, and at the same time protecting users and innovation itself.

Meanwhile, CNV defends this scale as a necessary step to ordering sectors that have been operating in gray areas for many years. In countries where cryptocurrencies are considered shelter for the economic crisis, The challenge is to find a midpoint where innovation cannot be owned It also does not leave investors unprotected.

The debate is still open as the deadline for adapting to regulations approaches. It is expressed by the voices of Argentina’s Bitcoin community, cryptocurrency, Mihura and more. Maintain reservations for the minimum net worth amount you request To allow businesses to run it.

Meanwhile, CNV maintains its position and prioritizes stability over flexibility. The consequences of this tension define the future of domestic exchanges and other PSAVs. A key moment in digital assets adoption.