Remote VASP serving residents in Argentina

Registration-focused: Businesses register in the CNV's VASP registry for legal operation; unregistered VASPs cannot function.

Local presence: Incorporate a local entity (e.g., SA or SRL/LLC) with 1 local director and 2 shareholders; virtual office allowed.

Mandatory registration for crypto businesses with monthly volumes exceeding 35,000 UVA (approximately $29,246)

Minimum net worth of $5,000–$50,000 (classification-dependent) for contractor licenses; half in cash for new applicants; varies by license type (e.g., $50,000 for money transmitters).

AML/KYC: Robust policies for client identification, transaction monitoring, and FATF-aligned reporting (e.g., suspicious activities to UIF); mandatory compliance officer.

Financial Information Unit (UIF): AML/CFT authority; stablecoin service providers are classified as Sujetos Obligados (mandatory reporters)

Argentine Federal Administration of Public Revenue (AFIP): Enforces tax obligations on crypto-related activities, including capital gains reporting

Compliance with CNV Resolution 994/2024, which established the VASP registration framework

Reporting of suspicious activities to the Financial Information Unit (UIF) within 150 days

Implementation of strict Know Your Customer (KYC) procedures and continuous transaction monitoring

CNV Resolution No. 1058/2025 updates emphasize transparency and compliance.

Law 27,739 (2024): Establishes the VASP registry under CNV oversight and amends AML laws to include VASPs.

CNV General Resolution 994/2024: Defines VASPs and requires CNV registration for legal operations.

UIF Resolution 49/2024: Mandates VASP registration with UIF for AML compliance.

Anti-Money Laundering Law No. 25,246: Core law preventing money laundering, now extended to VASPs.

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).

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.

RePET list: Primary Argentine list for terrorism/financing; VASPs must screen, high quality for region.

National Securities Commission (Comisión Nacional de Valores, CNV): Primary regulator overseeing VASP registration, compliance, investor protection, and development of the crypto framework. It manages the mandatory VASP registry and recently issued General Resolution No. 1125/2026, allowing virtual assets like Bitcoin and Ethereum to count toward net worth for qualified investor status (threshold around $479,000).

Financial Information Unit (Unidad de Información Financiera, UIF): Enforces AML/CTF rules, sets transaction reporting requirements, and aligns with FATF guidelines. VASPs must comply with its standards.

Law N°27,739 (March 2024): Establishes the formal regulatory framework for VASPs, mandates CNV registration, and integrates AML/KYC processes. Full framework takes effect December 31, 2025.

Law 27,743: Requires users to declare crypto holdings for tax purposes as part of asset regularization (blanqueo).

Fully enforceable since 31 December 2025, with the first annual compliance audit cycle starting 1 January 2026; obligations are live and enforced in 2026.

Adopted through Law 27.739 (March 2024), which defines PSAVs, followed by phased registration in 2025 and UIF Resolution 49/2024.

The Travel Rule is fully live and enforced as a core PSAV compliance requirement, aligning with FATF standards.

Key timeline: Law 27.739 (March 2024) defined PSAVs; phased CNV registration in 2025; full enforceability of AML/CFT and Travel Rule obligations on 31 December 2025; first compliance audit cycle from 1 January 2026.

CNV Resolution 1058/2025 (March 2025) mandated VASP registration with staggered deadlines: individuals by 1 July 2025, Argentine entities by 1 August 2025, foreign entities by 1 September 2025.

VASPs must collect, transmit, and retain originator/beneficiary information for in-scope crypto-asset transfers.

Applies to registered PSAVs (domestic and foreign VASPs operating in or targeting Argentina users), post-mandatory CNV registration.

Strict on unhosted wallets and inbound cross-border transfers.

Regulator: National Securities Commission (CNV) under Law 27,739 (passed March 2024)

Entity Targeted: CoinX crypto platform. Violation Type: Operating without authorization; operating similar to a Ponzi scheme. Outcome: Platform banned; thousands of investors affected with millions in losses.

Entity Targeted: Polymarket (crypto-powered prediction platform). Violation Type: Operating as an unlicensed online betting service without identity or age verification. Penalty: Nationwide access block; directed ISPs to restrict access; Google and Apple instructed to remove mobile applications. Outcome: Platform blocked countrywide.

Entity Targeted: President Javier Milei (for promoting $LIBRA cryptocurrency). Violation Type: Market manipulation; alleged rug pull scam. Penalty Amount: $251 million in investor losses documented. Outcome: Over 100 criminal complaints filed; judicial investigation launched; described as "Cryptogate" and The Economist called it the "first big scandal" of Milei's presidency.

Legal basis: Law 25,246 (AML), UIF Resolution 94/2023 for VASPs; RePET under National Law 26,268.