Argentina Strengthens Regulation of VASPs, New Requirements for Security and Asset Segregation
The Argentine securities regulator, the CNV, has officially issued a new legal framework to supervise virtual asset service providers (VASPs) operating in the country, introducing requirements such as segregation of client assets and ensuring the security of funds.
Argentina Announces New Regulations for VASPs
Argentina is taking a step forward in regulating the activities of virtual asset service providers (VASPs). On March 13, 2025, the CNV issued Resolution 1058, a detailed rule on the supervision and regulation of VASPs in the country. The resolution is the result of Law 27.739, which confirms the CNV as the official body responsible for regulating VASPs in Argentina.
The new framework introduces a more stringent set of compliance rules for companies operating in the cryptocurrency space. Accordingly, VASPs will have to meet security requirements, develop a thorough asset protection plan, and set specific fund reserves for each type of service. VASPs must also be transparent in disclosing the risks associated with their operations to customers, in order to raise awareness and protect investors.
In addition, the resolution also adjusts anti-money laundering (AML) and counter-terrorism financing (TF) rules to align with current standards of the Financial Action Task Force (FATF).
Segregation of customer assets to protect users
One of the most notable points of the resolution is the requirement to separate customer assets from exchange funds. This means that customer funds must be kept separately, to protect investors from risks similar to what happened to FTX.
A similar requirement was previously discussed during the drafting of the cryptocurrency law in Brazil, but it was not adopted due to concerns about the possibility of stifling innovation.
Contributions from the cryptocurrency industry
The Argentine cryptocurrency industry has played an active role in the development of this legal framework. CNV has consulted with many experts and businesses operating in the field to finalize the regulatory standards. CNV President Roberto Silva stressed that the goal is to create an effective, legal regulation that does not impose unnecessary costs, in order to promote innovation in the cryptocurrency industry.
However, some local experts have expressed concerns that issues related to cryptocurrency taxation have not been adequately addressed, causing digital assets to be treated unfairly compared to other traditional forms of investment.
Regulations to come into effect by the end of 2025
This new resolution will come into effect from December 31, 2025, and all VASPs in Argentina will have to comply with the new regulations to ensure transparency and safety for users.