Argentina’s securities regulator, the CNV, has introduced new regulations for virtual asset service providers. These regulations establish codes of conduct, cybersecurity standards, and asset custody requirements to ensure transparency and user protection in the cryptocurrency market. Announced on March 13, 2023, the rules aim to create stability and prevent issues like money laundering.
Argentina’s National Securities Commission (CNV) has unveiled a new regulatory framework for virtual asset service providers (VASPs), ensuring enhanced oversight in the cryptocurrency sector. Announced on March 13, 2023, under General Resolution No. 1058, these regulations set forth specific codes of conduct and custody requirements for cryptocurrency exchanges and digital asset platforms.
The newly established guidelines impose critical obligations on VASPs, which include registration, cybersecurity measures, asset custody, money laundering prevention, and risk disclosure. The intention behind these regulations is to bolster the transparency, stability, and protection of users operating within Argentina’s cryptocurrency ecosystem, thereby fostering a more reliable market.
In summary, Argentina’s implementation of regulations for virtual asset service providers marks a significant step toward creating a safer cryptocurrency environment. By mandating registration, cybersecurity measures, and asset custody requirements, these rules are designed to enhance user protection and ensure a transparent marketplace. This regulatory framework aims to bolster confidence in the growing cryptocurrency sector in Argentina.
Original Source: ihodl.com
