Argentina Establishes New Regulatory Framework for Cryptocurrencies

Argentina has launched a regulatory framework for virtual asset service providers, mandated by the National Securities Commission. The new rules focus on registration, cybersecurity, and risk disclosure, with the goal of enhancing user protection and transparency in the cryptocurrency sector.

On March 13, Argentina’s National Securities Commission (CNV) announced a new framework for regulating virtual asset service providers (VASPs). These regulations establish specific codes of conduct and custody requirements that cryptocurrency exchanges and digital asset platforms must adhere to.

General Resolution No. 1058 outlines numerous obligations for VASPs, including registration, cybersecurity, asset custody protocols, anti-money laundering measures, and risk disclosure.

The primary objective of this regulatory framework is to enhance transparency, stability, and user protection within Argentina’s burgeoning cryptocurrency ecosystem.

The introduction of a regulatory framework for cryptocurrencies by Argentina’s National Securities Commission marks a significant step toward ensuring user protection and improving the overall transparency and stability of the digital asset market. By setting clear requirements for VASPs, the CNV aims to foster a safer cryptocurrency environment.

Original Source: ihodl.com