Argentina has introduced a regulatory framework for virtual asset service providers (VASPs) through the National Securities Commission (CNV). This framework outlines codes of conduct, custody requirements, and obligations related to cybersecurity, registration, and money laundering prevention. The regulations aim to enhance transparency and user protection in the cryptocurrency ecosystem.
Argentina’s National Securities Commission (CNV) has established a new regulatory framework for virtual asset service providers (VASPs). This framework, announced on March 13 under General Resolution No. 1058, includes specific codes of conduct and custody requirements for cryptocurrency exchanges and digital asset platforms. The regulations emphasize key obligations concerning registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure.
The primary objective of these new regulations is to enhance transparency, stability, and user protection within the cryptocurrency ecosystem. By imposing these obligations, the CNV aims to create a more secure environment for individuals and businesses engaging in cryptocurrency transactions in Argentina. This initiative signifies a crucial step towards better governance of the rapidly evolving digital asset landscape.
The introduction of the new regulatory framework by Argentina’s CNV represents a significant advancement in the governance of cryptocurrencies and VASPs. By enforcing obligations that enhance cybersecurity, registration, and user protection, the regulations are poised to foster a more transparent and stable cryptocurrency ecosystem. This development underscores Argentina’s commitment to safeguarding participants in the digital asset space while combating financial crime.
Original Source: ihodl.com
