Galaxy head of research Alex Thorn believes the GENIUS Act could favor Tether by allowing it to operate under relatively flexible conditions. Thorn assessed that the bill would open a pathway for Tether to register onshore but would not require it to do so to continue operations. Limited restrictions for offshore issuers Based on the […]

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Argentina’s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions. 

The regulations were published on March 13 by the National Securities Commission, also known as CNV, under General Resolution No. 1058. 

According to a translated version of the announcement, the regulations impose “obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure” on VASPs operating in the country.

The stated goal of the rules is to guarantee “transparency, stability, and user protection in the crypto ecosystem,” the announcement said.

Argentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV. 

Since 2024, VASPs operating in Argentina have been required to register with the registry of virtual asset service providers, also known as PSAV. According to the new rules, registrations may be revoked for noncompliance, and any company operating without registration may be blocked by court order. 

Individuals who are registered with the PSAV have until July 1 to conform to the new rules. Companies incorporated in Argentina have until Aug. 1, and those incorporated abroad have until Sept. 1.

“Those who do not comply with the established requirements and deadlines will not be able to operate in Argentina,” said Roberto E. Silva, the CNV’s president. 

Related: Argentina’s crypto adoption hopes dim after Milei’s LIBRA memecoin scandal

Despite LIBRA scandal, crypto adoption rising in Argentina

As global law firm DLA Piper explained, Argentina’s push for clearer crypto regulations intensified one year ago after the CNV implemented registration requirements and said crypto issuers would be subject to securities laws. 

The regulatory pivot came amid a growing wave of crypto adoption in the country, which was partly driven by the rapid depreciation of the Argentine peso.

By mid-2024, crypto adoption in Argentina had surged as locals flocked to stablecoins like Tether’s USDt (USDT).

An October Chainalysis report determined that Argentina had overtaken Brazil as the largest Latin American country for crypto inflows at roughly $91 billion between July 2023 and June 2024. 

Crypto adoption trends remain positive in the face of the LIBRA scandal involving President Javier Milei. As Cointelegraph reported, Milei publicly endorsed the memecoin before it suddenly plunged in value, fueling allegations of a rug pull.

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REX Shares has launched the Bitcoin Corporate Treasury Convertible Bond (BMAX) ETF, designed to give investors access to convertible bonds issued by companies using debt to acquire Bitcoin. The fund, announced on March 14, will target firms that incorporate Bitcoin into their corporate treasuries. Over recent years, publicly traded companies have increasingly turned to convertible […]

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Solana’s Lily Liu had previously opposed SIMD-228 and argued that fixed-rate yields offer stability, which is crucial for institutional investors and SOL’s long-term growth. …

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British authorities have charged National Crime Agency (NCA) officer Paul Chowles with multiple offenses related to the alleged theft of 50 Bitcoin in 2017. At the time of the alleged theft in 2017, the Bitcoins were valued at approximately £60,000 (equivalent to $77,400). However, with Bitcoin’s surge in value over the years, the assets’ value […]

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Convertible debt from Michael Saylor’s Strategy comprises the majority of the REX Bitcoin Corporate Treasury Convertible Bond ETF holdings. …

Learn MoreBitcoin-Related Convertible Bond ETF Comes to Market