• The Informer Post
  • Posts
  • Argentina Government Launches Mandatory Registration Platform for Virtual Assets

Argentina Government Launches Mandatory Registration Platform for Virtual Assets

April 02, 2024

Argentina’s market regulator has launched a mandatory registry for crypto service providers.

The Comisión Nacional de Valores’ (CNV) new Registry of Virtual Asset Service Providers (PSAV) mandates that crypto companies like exchanges enter specified information on the regulator’s website in order to operate in the country.

CNV President Roberto E. Silva says they timed the rollout of a new registry with a visit from the Financial Action Task Force (FATF), an inter-governmental agency that develops anti-money laundering standards and measures to prevent terrorism financing.

“We have worked against the clock to advance compliance with Law No. 25,246 that reforms the National Regulatory System for the Prevention of Money Laundering and Financing of Terrorism and present today the creation of the PSAV registry before the end of the visit of the FATF to the country and taking into account its recommendation on the subject.”

Argentines have reportedly been buying up Bitcoin (BTC) to protect themselves from currency devaluation.

Bloomberg reports that the Argentina-based crypto exchange Lemon is seeing a large increase in Bitcoin purchases as the South American country faces one of the largest inflation rates in the world. Other major exchanges in Argentina such as Ripio and Belo have also witnessed a similar trend.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3