Argentina -- Custody Regulations Regulatory Overview

Argentina regulates cryptocurrency custody primarily through the National Securities Commission (CNV) under Law N°27,739 (enacted March 2024), which mandates registration for Virtual Asset Service Providers (VASPs or PSAVs) offering custody or related services, with ongoing developments via CNV resolutions like General Resolution N°1025 (draft, October 2024) and Resolution No. 1058. [1][3][5][6] These rules emphasize AML/KYC compliance, cybersecurity, and investor protection, but traditional banks remain prohibited from crypto services pending Central Bank (BCRA) approval, though proposals to allow regulated bank custody are under review as of 2026. [2][4][9]

Custodial License Requirements

VASPs providing custody must register with the CNV's mandatory registry (established by General Resolution N°994) and, if applicable, with the UIF as AML-regulated entities (Resolution 49/2024). [1][3][5] Registration applies to businesses with monthly volumes over 35,000 UVA (~$29,246 USD), requiring local establishment in Argentina, minimum net worth (scaled by services), appointed compliance officers/public relations managers, technical infrastructure, and internal policies/manuals. [4][5] Draft General Resolution N°1025 mandates audits and cybersecurity; Resolution No. 1058 enforces operational guidelines with penalties for non-compliance, including license suspension/revocation. [5][6] Unregistered VASPs cannot operate legally. [1][3]

Segregation of Client Assets Rules

VASPs must ensure proper segregation of client funds during custody, as mandated by Resolution No. 1058, alongside prudent financial safeguards. [6] Institutional custody emphasizes asset segregation requirements to protect client assets. [7] Providers must disclose third-party agreements (e.g., with custodians or financial institutions). [6]

Insurance/Bonding Requirements

Search results do not specify mandatory insurance or bonding for VASPs; requirements focus on minimum net worth, cybersecurity, and financial safeguards rather than explicit insurance mandates. [5][6]

Cold Storage Mandates

No explicit cold storage mandates are detailed in available regulations; custody rules emphasize accredited infrastructure, cybersecurity measures, and information security policies to protect assets. [5][6]

Qualified Custodian Definitions

No formal definition of "qualified custodians" appears in the results; custody falls under VASP regulations for registered providers meeting CNV standards (e.g., infrastructure, audits, segregation). [5][6] Proposals may extend to banks if BCRA approves. [2][9]

Pending Custody Legislation

• CNV General Resolution N°1025 (draft, public consultation October 2024) proposes finalized VASP rules on custody infrastructure, audits, and policies, expected to align closely with the draft. [5]
• BCRA is reviewing plans to lift the bank prohibition on crypto trading/custody, debating custody requirements, capital treatment, and permitted tokens; approval would enhance consumer protection and AML. [2][9]
• Ongoing evolution includes greater clarity on institutional custody, reporting, and risk management. [7]

For official texts: Law N°27,739 and CNV resolutions (e.g., N°994, N°1025, No. 1058) are available via CNV's site (not linked here per guidelines); BCRA updates via their portal. Regulations continue evolving post-2024 framework. [1][5][6]