Argentina’s National Securities Commission has adopted new regulations for virtual asset service providers. These rules include requirements for registration, cybersecurity, asset custody, and money laundering prevention, aiming to enhance user protection and transparency in the cryptocurrency sector.
Argentina’s securities authority has unveiled a new regulatory framework aimed at virtual asset service providers (VASPs). This framework delineates specific codes of conduct alongside custody requirements applicable to cryptocurrency exchanges and digital asset platforms.
On March 13, the National Securities Commission (CNV) announced these regulations through General Resolution No. 1058, which mandates obligations relating to registration, cybersecurity, asset custody, prevention of money laundering, and risk disclosure for VASPs operating within the nation.
The primary objective of these regulations is to foster transparency, stability, and enhanced protection of users engaged in the cryptocurrency ecosystem.
In summary, the introduction of regulations by Argentina’s National Securities Commission represents a significant step towards establishing a secure framework for cryptocurrency operations. These guidelines are designed to promote user trust and regulatory compliance among VASPs, emphasizing key areas such as cybersecurity and asset management.
Original Source: ihodl.com
