Important facts:
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Registration will be opened this week before the National Securities Commission (CNV).
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Persons with certain operations for amounts exceeding 27 million pesos must register.
The deadline given by Argentina’s new regulation for companies and individuals carrying out certain operations in the cryptocurrency sector to register in the Registry of Virtual Asset Service Providers is 45 days from this week.
As stated in a resolution published this March 22, the registration period in the registry will open before the National Securities Commission (CNV) starting this week. It is the body designated by law to oversee the ecosystem in Argentina.
The registry was created through a recent reform implemented in anti-money laundering legislation. provides resolution based on requirements that must be met Natural or legal persons required to register.
in that sense, of standard It establishes that all companies and individuals carrying out certain operations with cryptocurrencies in the country are required to register, including exchanges and those carrying out exchanges and custody.
Thus it is provided that those required to register include physical or legal entities “resident or incorporated” outside Argentina. Activity uses any domain .ar To carry out its activities.
Those who have commercial agreements with third parties, subsidiaries or related companies that allow them to “obtain funds or assets locally from Argentine residents to carry out activities or operations” (ramp services) may also are bound. This also includes those companies They direct their offers and advertising promotions to residents of ArgentinaOr whose turnover in the country is more than 20% of their total volume.
The resolution warns that anyone who does not register as required will be “refrained from carrying on in the country any activity or operation covered by the law approved by the Senate.” such a fact Prevent you from exchanging virtual assets with fiat currencies and other virtual assetsAs well as offering transfers, custody or administration, and providing all types of financial services involving cryptocurrencies.
According to the law, those carrying out activities in the sector will be exempted from the registry. For annual amounts less than 35,000 UVA, which is equivalent to 27 million Argentine pesos At the time of this publication.
It also states that any person “who is domiciled, incorporated or resident in the domains, jurisdictions, territories or associated states included in the list of non-cooperative jurisdictions for the purposes of financial transparency” should abstain. This includes all those considered “non-cooperative or high risk” by the FATF.
One of the main objectives of the new rules is to collect information Keep More Monitor on Cryptocurrency Platforms, A demand that the Financial Action Task Force (FATF) is making For all the countries forming the organization, They insist that its purpose is to prevent money laundering.
It should be noted that the CNV announces the rules of the registry A few days before Tuesday, March 26The date on which the activities of the FATF mission visiting Argentina since the beginning of this month will end.
As CryptoNoticias reported, the registry was created through the recent reform of money laundering legislation. Argentina’s Senate on March 14 voted for Amendment to the Penal Code to introduce data on the list of exchanges, wallet providers and companies for the cryptoasset industry.
Following this approval, it was decided that CNV will be the entity to oversee, regulate, inspect, supervise and approve service providers dealing with virtual assets. Details of the steps to be followed are still pending. To grant license To operate in the field.
