Argentina’s CNV has unveiled regulations for VASPs aiming to enhance compliance and user protection. Key features include asset segregation for customer funds, updated AML/TF policies, and required risk disclosures. The regulations, effective December 31, 2025, follow the CNV’s collaboration with the cryptocurrency sector but lack clarity on tax issues affecting digital assets.
Argentina’s securities regulator, the CNV, has established new compliance regulations for virtual asset service providers (VASPs). This framework is intended to bring Argentina’s regulatory practices in line with other nations. On March 13, the CNV released resolution 1058, which builds upon the previously approved Law 27.739, positioning CNV as the overseer of VASP operations in Argentina.
The resolution enhances the compliance landscape for cryptocurrency firms, mandating the submission of comprehensive documentation, security plans, and designated fund reserves for various types of VASPs. Moreover, it requires VASPs to inform users of the potential risks associated with their services, thereby encouraging heightened user awareness and protection.
Additionally, the new regulations modify existing anti-money laundering and terrorist financing (AML/TF) policies to ensure they align with standards set by the Financial Action Task Force (FATF). A crucial aspect of this regulation is the requirement for asset segregation, necessitating that customer funds be kept separate from exchange assets to safeguard users from incidents akin to the FTX collapse.
Although similar proposals were discussed in Brazil’s crypto legislation, they did not pass due to concerns about stifling innovation. The CNV worked collaboratively with major stakeholders in the cryptocurrency sector to develop these regulations, with CNV President Roberto Silva noting their aim to enforce effective compliance while fostering innovation without imposing excessive costs.
However, some local crypto leaders expressed concerns regarding the absence of provisions addressing tax implications on digital assets, arguing that these assets are unfairly treated compared to traditional investments. The new regulations will be enacted on December 31, 2025, requiring VASPs to adjust their operations accordingly.
The introduction of CNV resolution 1058 signifies Argentina’s commitment to establishing a robust regulatory framework for virtual asset service providers. The new requirements for compliance, customer fund segregation, and alignment with FATF guidelines are indicative of a strategic move to protect investors while fostering innovation. However, the absence of clear tax regulations may pose a challenge for the local crypto industry. VASPs will need to prepare for these changes by the end of 2025.
Original Source: news.bitcoin.com
