Argentina -- AML/CFT Compliance Regulatory Overview
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Argentina regulates Virtual Asset Service Providers (VASPs, or PASVs) primarily through Law 27,739 (enacted March 2024), which integrates them into the national AML/CFT framework and mandates registration with the Comisión Nacional de Valores (CNV). VASPs must also register with the Financial Information Unit (UIF) as AML-regulated entities per UIF Resolution 49/2024, aligning with Anti-Money Laundering Law No. 25,246.[1][2][3][4]
Key AML/CFT Legislation
- Law 27,739 (2024): Establishes the VASP registry under CNV oversight and amends AML laws to include VASPs.[1][2][3][4]
- CNV General Resolution 994/2024: Defines VASPs and requires CNV registration for legal operations.[2][4]
- UIF Resolution 49/2024: Mandates VASP registration with UIF for AML compliance.[2]
- Anti-Money Laundering Law No. 25,246: Core law preventing money laundering, now extended to VASPs.[6]
- Supporting resolutions: CNV General Resolution 1025 (October 2024 draft on VASP rules); CNV Resolution 1058/2025 (mandatory registration deadlines, net worth, AML standards).[2][5]
- Earlier: UIF Resolution 300/2014 (crypto transaction reporting).[7]
Customer Due Diligence (KYC) Requirements
VASPs must implement robust KYC procedures, including customer identification, risk assessments, and appointing compliance officers. Registration with CNV requires demonstrating KYC/AML systems, cybersecurity, and operational structure.[1][2][5]
Suspicious Transaction Reporting
VASPs monitor transactions and report suspicious activities to the UIF, the AML/CFT authority. This includes data on crypto transactions per FATF-aligned rules and UIF Resolution 49/2024.[1][2][3][5][7]
Record-Keeping Obligations
VASPs maintain records of transactions, KYC data, and compliance policies, subject to mandatory audits and CNV/UIF reviews. Retention aligns with AML Law 25,246 requirements for obliged entities.[2][5][6]
Oversight Authorities
| Authority | Role | Website |
|---|---|---|
| Comisión Nacional de Valores (CNV) | Primary VASP regulator; manages registry, licensing, investor protection. | www.cnv.gov.ar [1][2][3][4][5] |
| Unidad de Información Financiera (UIF) | AML/CFT supervisor; handles suspicious reports, compliance enforcement. | www.uif.gob.ar [2][3] |
Unregistered VASPs cannot operate legally; compliance includes minimum net worth, local presence for foreign entities, and internal policies.[1][2][4][5] Regulations continue evolving, with 2025 updates enhancing standards.[5]
Source Data
VASPs must conduct continuous, risk-based screening of customers, wallets, and transactions against OFAC SDN, EU/UN lists, and other relevant global and national sanctions lists (e.g., OFSI, Argentina's RePET).
Report blocked assets to OFAC/UIF; no dealing with 50%+ owned entities or crypto from sanctioned sources (e.g., Blender.io, SUEX).[4][5]
Legal basis: Law 25,246 (AML), UIF Resolution 242/2023 (and modifications) for VASPs; RePET under National Law 26,268.
**OFAC**: Civil fines up to $1M+ per violation, criminal up to 30 years/$1M; strict liability.[4][5]
**Argentina**: UIF fines up to ~ARS 13.5M (~$13.5K USD equivalent, adjusted; 35% increase), license revocation, criminal charges under Penal Code Arts. 303-309 for terrorism financing.
EU/UN sanctions enforcement is standardizing through harmonized directives and competent authority frameworks, though implementation timelines remain subject to member state discretion and phased rollout schedules.
**RePET list**: Primary Argentine list for terrorism/financing; VASPs must screen, high quality for region.[2]
In Argentina, the Comisión Nacional de Valores (CNV) is the authority that oversees registration, regulation, and supervision of Proveedores de Servicios de Activos Virtuales (PSAV, i.e., virtual asset service providers), including their registration and compliance obligations, under the framework established by General Resolution 1058/2025 and related amendments, but there is no evidence of a CNV crypto/PSAV Resolution numbered 1125/2026.
**UIF (Financial Information Unit)**: Defines cryptocurrencies and enforces AML reporting via Resolution 300/2014.[2]
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