Argentina’s Comisión Nacional de Valores (CNV) has introduced new regulations for virtual asset professors (PSAVs), so that they must comply with registration, cyber security, anti-money laundry practice and the standards for the guardianship of the Crypto-s-sector.
The regulatory framework – re -synchronized resolution no. 1058 – was approved after a public consultation process and corresponds to the legislation that the CNV authority grants on virtual asset songers.
The new rules require strict operational guidelines and impose serious fines for non-compliance with companies that facilitate transactions, custody or mediation of digital assets.
CNV President Roberto E. Silva emphasized the importance of finding a balance between effective regulations and promoting innovation.
He said that the regulator had worked extensively to ensure that the regulations were both effective and tailored to the law, while unnecessary costs are avoided that could hinder the growth of industry. Silva also noted that the framework input includes stakeholders in the industry who participated in public consultation.
New rules
According to the new rules, PSAV’s Robust Policy for Information Security must implement to protect users against cyber threats. They are also obliged to maintain careful financial guarantees for the custody of assets, which guarantees the correct segregation of customer funds.
In addition, providers must make agreements public with third parties, including partnerships with financial institutions, managers and foreign branches. Annual audits will be obliged to verify compliance with the framework.
Companies that want to operate legally in Argentina must register with the CNV within the designated deadlines. The full regulatory framework will take effect on December 31, 2025.
However, persons who provide virtual assets services must complete the registration before 1 July 2025, while companies recorded in their own country have until 1 August 2025. In the meantime, foreign entities must register before 1 September 2025.
Broad enforcement powers
The resolution gives the CNV broad enforcement powers. It can suspend or withdraw the licenses of non-conforming service providers and, in coordination with judicial authorities, block non-registered PSAVs to operate in Argentina.
In addition, virtual assets that are eligible if publicly offered securities will remain subject to the Capital Markets of Argentina (no. 26,831), which means they are placed under extra supervision.
Although the CNV emphasized that the cryptocurrencies do not regulate itself, the new framework is an important step in the direction of formal supervision of the digital assets sector of Argentina.
The relocation corresponds to global trends, since supervisors are trying to tackle risks related to platforms for digital assets and at the same time promote the development of the responsible industry.