Argentina’s CNV opens registration for cryptocurrency exchanges

Important facts:
  • CNV complies with the recommendations of the Financial Action Task Force (FATF).

  • “We have worked around the clock to further our compliance with the law,” CNV says.

The Argentine National Securities Commission (CNV) has already created the Registry of Virtual Asset Service Providers (PSAVs), following the guidelines of Resolution RG No. 994 of March 25.

As explained release Published in the Official Gazette of the CNV on March 25, interested parties must enter the necessary personal data to be able to continue operating on the market. This is because regulations establish that companies and individuals that conduct certain operations with cryptocurrencies in the country they are required to register,

Exchanges required to register include exchanges and all those that provide cryptocurrency exchange and custody services. Volume that exceeds 35,000 purchase price units or UVA (about 27 million pesos). It includes natural or legal persons “resident or incorporated” outside Argentina, whose entity uses any domain 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 This should be done. This includes companies that direct their advertising offers and promotions to residents of Argentina.

According to CNV the purpose of the registry is Identify human and legal persons providing services with cryptocurrencies in the country, It aims to comply with the recommendations of the Financial Action Task Force (FATF), which recently reformed the legislation on the prevention of money laundering, terrorism financing and the proliferation of weapons of mass destruction.

In that sense, the CNV publication acknowledges that efforts have been made in recent weeks to accelerate the creation of the registry. All this is to show FATF that Argentina will follow its recommendations,

As Roberto Silva, president of the CNV, explains, the intention is to show the results during a visit to the country by a delegation from the international organization, which Expires today March 26th,

We have worked around the clock to advance compliance with Law No. 25,246 which reforms the national regulatory system for the prevention of money laundering and financing of terrorism (ML/FT) and the creation of the PSAV Registry before the end of the journey today Presents. FATF to the country and taking into account its recommendations on the subject.

Roberto Silva, President of the CNV.

In the statement, Silva stressed that “those who are not registered will not be able to work in the country.” thus reminding bound subjects that They will need to login to the agency’s website to provide information and documentation requested. As per CriptoNoticias report, the registration period will be extended by 45 days from this week.

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