Argentina’s government has initiated the implementation of regulations for cryptocurrency exchanges to operate legally in the country.
According to an announcement made by Argentina’s Comisión Nacional de Valores (CNV) on March 25, virtual asset service providers will be required to adhere to the recommendations laid out by the Financial Action Task Force (FATF). As part of the country’s reforms to Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) laws, certain companies offering crypto-related services must register with the Argentine government.
The enforcement of the law governing crypto providers in Argentina progressed on March 14, when the country’s senate approved amendments to laws aimed at preventing money laundering and the financing of terrorism. Roberto Silva, President of the CNV, stated that virtual asset service providers that fail to register will not be permitted to operate in the country.
It is reported that the proposed modifications to Argentina’s laws pertaining to crypto users were introduced before Javier Milei won the presidential election in November 2023. While Milei’s pro-Bitcoin (BTC) stance was celebrated by many crypto enthusiasts at the time, the implementation of the FATF requirements has raised concerns about the future of digital assets in Argentina.
Source:
Nina Lira
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