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Argentina

Retail_Trading_Status

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#258
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Archived
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2025-06-26 09:16
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Initial Research

Executive Summary

Retail cryptocurrency trading is legally permitted in Argentina, where cryptocurrencies are recognized as digital assets but not legal tender. The National Securities Commission (CNV) is the primary regulator, overseeing Virtual Asset Service Providers (VASPs) per Law No. 27,739 (March 2024) and associated resolutions. VASPs must register with the CNV and comply with AML/CFT regulations under UIF Resolution No. 49/2024 to operate legally, marking a shift towards a more structured regulatory framework aligned with FATF standards.

Key Pillars

The key regulatory pillars in Argentina include: 1) The National Securities Commission (CNV) as the primary regulator for the crypto sector. 2) Mandatory registration for Virtual Asset Service Providers (VASPs). 3) Core compliance requirements encompassing AML/CFT measures, customer due diligence (KYC), transaction monitoring, and reporting suspicious transactions to the Financial Information Unit (UIF).

Landmark Laws

Key legislations include: 1) Law No. 27,739 (enacted March 2024): Integrated Virtual Asset Service Providers (VASPs) into the legal framework and designated the CNV as the primary regulator. It defines virtual assets as digital representations of value, excluding legal tender. 2) CNV General Resolution No. 994/2024 (issued March 2024): Established the mandatory registry for VASPs, outlining conditions for registration, especially for entities with a local presence or targeting Argentine residents. 3) UIF Resolution No. 49/2024: Legally designated VASPs as reporting entities, imposing obligations related to risk management, transaction monitoring, KYC procedures, and reporting suspicious activities. 4) CNV General Resolution No. 1058/2025 (issued March 14, 2025): Detailed the regulatory framework for VASPs, introducing categories, and specifying requirements related to registration, net worth, fund segregation, cybersecurity, AML/CFT reporting, and advertising, with full effect expected by December 31, 2025.

Considerations

Important considerations include: 1) Cryptocurrencies are legally classified as digital assets, not legal tender. 2) Income from holding or disposing of virtual currencies is subject to taxation; gains are taxed at 15% for resident individuals and 25-30% for legal entities. Virtual currencies may be subject to Personal Assets Tax above a threshold. Argentina introduced an asset regularization program allowing individuals and businesses to declare previously undeclared assets, including virtual assets, with a deadline of May 30, 2025. 3) The Central Bank of Argentina (BCRA) has issued warnings about cryptocurrency risks and previously prohibited banks from offering services related to unregulated digital assets. In October 2019, the BCRA restricted cryptocurrency purchases using credit cards. 4) The current administration, under President Javier Milei, is perceived as more open to crypto, potentially influencing future regulatory approaches.

Notes

Additional details include: 1) Historically, Argentina had a lenient approach to crypto regulation, but recent years, particularly 2024 and 2025, have seen a shift towards a more structured framework. 2) The Argentine Fintech Chamber has welcomed regulatory progress but expressed concerns about potential tax disadvantages for crypto companies. 3) The BCRA museum featured an exhibit on Bitcoin mining, indicating a potentially more open stance. 4) The new regulations aim to bring more formality and security to the market rather than restricting access. 5) The regulatory framework is expected to take full effect on December 31, 2025, with staggered deadlines for VASP compliance throughout 2025. 6) Sumsub stated on April 4, 2025, that Argentina allows crypto trading, but crypto assets are not recognized as legal tender. 7) The Buenos Aires Herald reported on March 21, 2025, that CNV rolled out its first regulations on cryptocurrencies in general resolution 1058, requiring VASPs to register.

Detailed Explanation

Retail cryptocurrency trading is legally permitted for individuals in Argentina, although cryptocurrencies are not considered legal tender, as the Argentine Constitution designates the central bank as the sole issuer. Cryptocurrencies are recognized as digital assets and can be used for payments and contracts. Argentina's high inflation and economic instability have driven significant cryptocurrency adoption. The country's regulatory approach, initially lenient, has evolved towards a more structured framework in recent years, especially in 2024 and 2025, to align with FATF standards for combating money laundering (AML) and terrorism financing (CFT).

Law No. 27,739, enacted in March 2024, integrates Virtual Asset Service Providers (VASPs), known locally as Proveedores de Servicios de Activos Virtuales (PSAV), into the legal and financial system. This law designates the National Securities Commission (Comisión Nacional de Valores - CNV) as the primary regulator for the crypto sector and mandates the creation of a registry for VASPs. CNV General Resolution No. 994/2024, also issued in March 2024, establishes the mandatory registry for VASPs, outlining registration conditions for entities with local domains or those targeting Argentine residents. Furthermore, UIF Resolution No. 49/2024 legally designates VASPs as reporting entities, imposing obligations such as risk management, transaction monitoring, KYC procedures, and reporting suspicious activities.

CNV General Resolution No. 1058/2025, issued on March 14, 2025, further detailed the regulatory framework for VASPs, including categories of VASPs and requirements related to registration, net worth, fund segregation, asset custody, cybersecurity, AML/CFT reporting, and advertising. These regulations aim to enhance transparency, stability, and user protection. The full framework is expected to be effective by December 31, 2025, with staggered deadlines for VASPs throughout 2025. All VASPs must register with the CNV to operate legally and comply with AML/CFT measures, including customer due diligence and transaction monitoring.

Income derived from holding or disposing of virtual currencies is subject to taxation. Gains are taxed at 15% for resident individuals and 25-30% for legal entities. Cryptocurrencies may also be subject to Personal Assets Tax if their value exceeds a certain threshold. Argentina introduced an asset regularization program (blanqueo) with a final deadline of May 30, 2025, allowing the declaration of previously undeclared assets, including virtual assets. While the CNV regulates VASPs, the Central Bank of Argentina (BCRA) has previously issued warnings about cryptocurrency risks and prohibited traditional banks from offering services related to unregulated digital assets. In October 2019, the BCRA banned cryptocurrency purchases using credit cards.

The current administration under President Javier Milei is perceived as generally pro-crypto, potentially influencing future regulatory approaches. Symbolic gestures, such as a BCRA museum exhibit featuring Bitcoin mining, suggest a more open stance. The Argentine Fintech Chamber has welcomed regulatory progress but raised concerns about potential tax disadvantages for crypto companies compared to traditional financial institutions. Despite evolving regulations, retail trading remains active, with new rules aimed at enhancing market formality and security rather than restricting access.

Summary Points

Retail Trading of Cryptocurrencies in Argentina: Regulatory Analysis (June 2025)

Overall Status: Allowed-Regulated. Retail cryptocurrency trading (buying, selling, and holding) is legal for individuals and residents. Cryptocurrencies are recognized as digital assets but are not legal tender.

1. Key Regulatory Bodies and Their Roles

  • National Securities Commission (Comisión Nacional de Valores - CNV):
    • Primary regulator for the crypto sector.
    • Responsible for establishing a comprehensive regulatory framework for Virtual Asset Service Providers (VASPs).
    • Maintains a mandatory registry for VASPs.
  • Financial Information Unit (Unidad de Información Financiera - UIF):
    • Designates VASPs as reporting entities.
    • Enforces AML/CFT regulations.
  • Central Bank of Argentina (Banco Central de la República Argentina - BCRA):
    • Historically issued warnings about cryptocurrency risks.
    • Previously prohibited banks from offering services related to unregulated digital assets.
    • Prohibited the purchase of cryptocurrencies using credit cards (October 2019).
    • Current administration may be more open to decentralized finance.

2. Important Legislation and Regulations

  • Law No. 27,739 (Enacted March 2024):
    • Integrated Virtual Asset Service Providers (VASPs) into the legal and financial framework.
    • Defined virtual assets as "digital representations of value that can be traded and/or transferred digitally and used for payments or investments," excluding currencies issued by Argentina or other jurisdictions.
    • Established the CNV as the primary regulator.
  • CNV General Resolution No. 994/2024 (March 2024):
    • Established the mandatory registry for VASPs.
    • Outlined conditions for registration, including requirements for entities with ".ar" domains, commercial agreements facilitating local fund transfers, or advertising directed at Argentine residents.
  • UIF Resolution No. 49/2024:
    • Designated VASPs as reporting entities under AML/CFT regulations.
  • CNV General Resolution No. 1058/2025 (March 14, 2025):
    • Further detailed the regulatory framework for VASPs.
    • Introduced categories of VASPs.
    • Established requirements related to registration, net worth, fund segregation, asset custody, cybersecurity, AML/CFT reporting, and advertising.
    • Aims to enhance transparency, stability, and user protection.
    • Full regulatory framework expected to take effect on December 31, 2025.

3. Requirements for Compliance (VASPs)

  • VASP Registration: Mandatory registration with the CNV to operate legally in Argentina. Unregistered VASPs cannot legally operate.
  • AML/CFT Compliance:
    • Implementation of robust AML/CFT measures.
    • Customer Due Diligence (KYC) procedures.
    • Transaction monitoring.
    • Reporting suspicious transactions to the UIF.
    • Screening and verifying client identities.
    • Maintaining detailed records.
  • Net Worth and Fund Segregation: Requirements for minimum net worth and segregation of client funds.
  • Asset Custody: Secure custody of digital assets.
  • Cybersecurity: Implementation of robust cybersecurity measures.
  • AML/CFT Reporting: Regular reporting of AML/CFT activities.
  • Advertising: Compliance with advertising regulations.

4. Notable Restrictions or Limitations

  • No Legal Tender Status: Cryptocurrencies are not legal tender in Argentina.
  • BCRA Restrictions (Historically): The BCRA has previously restricted banks from offering services related to unregulated digital assets and prohibited cryptocurrency purchases using credit cards.
  • Taxation: Income derived from holding or disposing of virtual currencies is subject to taxation.

5. Taxation of Cryptocurrencies

  • Tax on Gains: Gains from the disposal of digital currency are generally taxed at 15% for resident individuals. Legal entities face tax rates ranging from 25% to 30% on such gains.
  • Personal Assets Tax: Cryptocurrencies may be subject to Personal Assets Tax if their value exceeds a certain threshold at the end of the tax year.
  • Asset Regularization Program (Blanqueo): Argentina introduced an asset regularization program allowing individuals and businesses to declare previously undeclared assets, including virtual assets, with a final deadline of May 30, 2025.

6. Recent Developments or Changes

  • Shift Towards Structured Regulation (2024-2025): Argentina has moved towards a more structured regulatory framework to align with international standards (FATF) and combat money laundering and terrorism financing.
  • Enactment of Law No. 27,739 (March 2024): Integrated VASPs into the legal and financial framework.
  • CNV General Resolution No. 1058/2025 (March 14, 2025): Further detailed the regulatory framework for VASPs.
  • Potential Shift in BCRA Stance: The current administration under President Javier Milei is seen as generally pro-crypto, which may influence future regulatory approaches.
  • BCRA Museum Exhibit: A BCRA museum exhibit featuring Bitcoin mining suggests a more open stance towards exploring decentralized finance.

7. Consumer Protection

  • Reduced Fraud Risks: The new regulations aim to protect users by reducing fraud risks.
  • Secure and Transparent Platforms: Ensuring platforms operate securely and transparently.
  • Clear Presentation of Risks: CNV General Resolution 1058 includes provisions regarding the clear presentation of risks associated with certain cryptoassets, especially new ones.

Full Analysis Report

Retail_Trading_Status: Argentina

Report Date: 2025-06-26

Topic: Retail_Trading_Status
Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

Status: Allowed-Regulated

Narrative Explanation:

Retail cryptocurrency trading, including buying, selling, and holding, is legally permitted for individual citizens and residents in Argentina. While cryptocurrencies are not considered legal tender (as the Argentine Constitution designates the central bank as the sole issuer of legal currency), they are recognized as digital assets and can be used for payments and contracts. Argentina has seen significant adoption of cryptocurrencies, driven by factors such as high inflation and economic instability, leading the country to become a prominent crypto market in Latin America.

Historically, Argentina had a relatively lenient approach to crypto regulation. However, in recent years, and particularly in 2024 and 2025, the country has moved towards a more structured regulatory framework. This shift aims to align with international standards, particularly those set by the Financial Action Task Force (FATF), to combat money laundering (AML) and terrorism financing (CFT), and to provide greater legal certainty and protection for users and investors.

Key developments in the regulatory landscape include:

  • Law No. 27,739 (enacted March 2024): This law was a significant step, integrating Virtual Asset Service Providers (VASPs) – known as Proveedores de Servicios de Activos Virtuales (PSAV) in Argentina – into the country's legal and financial framework. It established the National Securities Commission (Comisión Nacional de Valores - CNV) as the primary regulator for the crypto sector and mandated the creation of a registry for VASPs. The law defines virtual assets as "digital representations of value that can be traded and/or transferred digitally and used for payments or investments," excluding currencies issued by Argentina or other jurisdictions.
  • CNV General Resolution No. 994/2024: Issued in March 2024, this resolution established the mandatory registry for VASPs. It outlines conditions for registration, including for entities with ".ar" domains, those with commercial agreements facilitating local fund transfers from Argentine residents, or those directing advertising to Argentine residents.
  • UIF Resolution No. 49/2024: This resolution from the Financial Information Unit (Unidad de Información Financiera - UIF) legally designates VASPs as reporting entities. This imposes obligations such as risk management, transaction monitoring, reporting suspicious activities, and adhering to Know Your Customer (KYC) procedures.
  • CNV General Resolution No. 1058/2025 (issued March 14, 2025): This resolution further detailed the regulatory framework for VASPs, introducing categories of VASPs and requirements related to registration, net worth, fund segregation, asset custody, cybersecurity, AML/CFT reporting, and advertising. It aims to enhance transparency, stability, and user protection in the crypto ecosystem. The full regulatory framework is expected to take effect on December 31, 2025. VASPs have staggered deadlines throughout 2025 to comply with these new rules.

Key Regulatory Aspects for Retail Users and Platforms:

  • VASP Registration: All VASPs, including exchanges, brokers, and custodians, involved in activities in Argentina must register with the CNV to operate legally. Unregistered VASPs cannot legally operate in the country.
  • AML/CFT Compliance: VASPs are obligated to implement robust AML/CFT measures, including customer due diligence (KYC), transaction monitoring, and reporting suspicious transactions to the UIF. This includes screening and verifying client identities and maintaining detailed records.
  • Consumer Protection: The new regulations aim to protect users by reducing fraud risks and ensuring platforms operate securely and transparently. For instance, CNV General Resolution 1058 includes provisions regarding the clear presentation of risks associated with certain cryptoassets, especially new ones.
  • Taxation: Income derived from the holding or disposal of virtual currencies is subject to taxation. For resident individuals, gains from the disposal of digital currency are generally taxed at 15%. Legal entities face tax rates ranging from 25% to 30% on such gains. Cryptocurrencies may also be subject to Personal Assets Tax if their value exceeds a certain threshold at the end of the tax year. While holding crypto itself might not be taxed, profits from transactions are. Argentina has also introduced an asset regularization program (blanqueo) allowing individuals and businesses to declare previously undeclared assets, including virtual assets, with a final deadline of May 30, 2025.
  • Central Bank (BCRA) Stance: While the CNV is the primary regulator for VASPs, the Central Bank of Argentina (BCRA) has previously issued warnings about the risks of cryptocurrencies and has prohibited traditional banks from offering services related to digital assets not regulated by the central bank. In October 2019, the BCRA prohibited the purchase of cryptocurrencies using credit cards as part of measures to defend the peso. However, the current administration under President Javier Milei is seen as generally pro-crypto, which may influence future regulatory approaches. There have been symbolic gestures, such as a BCRA museum exhibit featuring Bitcoin mining, suggesting a more open stance towards exploring decentralized finance.

Despite the evolving regulatory framework, retail trading remains active. The new rules are intended to bring more formality and security to the market, rather than to restrict access for individuals. The Argentine Fintech Chamber has generally welcomed the regulatory progress but has also raised concerns about potential tax disadvantages for crypto companies compared to traditional financial institutions.

Relevant Text Excerpts and Sources:

  • Sumsub (April 4, 2025): "Yes, Argentina allows the use and trading of crypto assets. However, crypto assets are not recognized as legal tender in Argentina... Individuals and businesses alike are also allowed to buy, sell, hold, and offer crypto services in the country."
  • Sumsub (April 4, 2025): "In 2024, Argentina enacted Law 27,739 to integrate Virtual Asset Service Providers (VASPs), or PASVs as they are known in Argentina, into its legal and financial framework. This framework obliges VASPs to comply with the country's AML and KYC processes in a bid to fight money laundering and regulate the sector."
  • Sumsub (April 4, 2025): "As of 2024, VASPs are obliged to register with the Comisión Nacional de Valores (CNV), Argentina's financial regulator, to offer crypto services in the country... VASPs that are not registered cannot legally operate in Argentina."
  • Crypto Economy (May 22, 2025): "In recent months, Argentina's crypto ecosystem has seen significant progress towards a clearer regulatory framework. This movement gained momentum with the passage of Law No. 27.739 (March 2024), which introduced key definitions and granted new oversight powers to the National Securities Commission (CNV) over Virtual Asset Service Providers (VASPs)."
  • Crypto Economy (May 22, 2025): "On March 14, 2025, the CNV issued Resolution 1058/2025, published in the Official Gazette. This rule establishes a mandatory registration system for VASPs and seeks to align Argentina with global anti-money laundering (AML) and counter-terrorism financing (CTF) standards recommended by the Financial Action Task Force (FATF)."
  • RR2 Capital (April 17, 2025): "Argentina's 2025 regulations for Bitcoin and crypto allow the use of Bitcoin and cryptocurrencies for transactions and contracts, though they are not legal tender. The government has set strict compliance measures to ensure a secure and transparent crypto market, in line with Argentina regulations for bitcoin and crypto."
  • CoinStats (June 17, 2025): "Crypto in Argentina are not prohibited and are considered as legal hence regulated by governmentregarding cryptocurrency related to taxation and to prevent money laundering and financial terrorism."
  • Buenos Aires Herald (March 21, 2025): "On March 14, National Security Commission (CNV) — the Argentine equivalent of the United States' Security and Exchange Commission (SEC) — rolled out its first regulations on cryptocurrencies... The new regulation, passed last week in general resolution 1058, represents the country's first on Virtual Asset Service Providers — crypto exchanges or wallets. Now, each will have to register with the commission in order to operate within the country."
  • DLA Piper (Undated, referencing March 2024 events): "The law appointed the CNV as the regulatory authority for the crypto industry, with the task of establishing a comprehensive regulatory framework. On March 22, the CNV issued General Resolution N°994, instituting a mandatory registry for VASPs."
  • Cointelegraph (March 14, 2025): "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."

Direct URL Links to Sources:

  1. https://sumsub.com/blog/crypto-compliance-in-argentina/
  2. https://crypto.news/crypto-regulation-in-argentina-recent-developments-and-tax-challenges/
  3. https://rr2.capital/blog/argentina-regulations-for-bitcoin-and-crypto/
  4. https://coinstats.app/blog/crypto-regulations-in-argentina/
  5. https://buenosairesherald.com/economics/bitcoin-and-crypto-markets/argentina-begins-regulating-cryptocurrencies-one-month-after-libra-scandal
  6. https://www.binance.com/en/square/post/2024-06-08-crypto-regulations-in-argentina-2024-insights-amp-updates-9896359508509
  7. https://www.travala.com/blog/travelling-with-crypto-in-argentina-impact-of-vasp-rules-in-2025/
  8. https://chambers.com/content/item/13602 (General Fintech, some crypto context)
  9. https://www.coindesk.com/policy/2022/05/05/argentinas-central-bank-bars-lenders-from-offering-crypto-services/ (Older, but provides context on BCRA's past stance) [Referenced indirectly via other summaries like,]
  10. https://www.dlapiper.com/en/insights/publications/2024/04/argentina-initiates-regulation-of-cryptoassets
  11. https://cointelegraph.com/news/argentina-finalizes-rules-virtual-asset-providers
  12. https://www.binance.com/en/square/post/2024-10-01-what-taxes-does-bitcoin-pay-in-argentina-learn-about-the-tax-obligations-for-cryptocurrencies-1704709409115
  13. https://coinfomania.com/crypto-taxation-in-argentina-a-complete-guide/
  14. https://www.centralbanking.com/fintech/crypto-assets/7266976/argentine-central-bank-restricts-crypto-asset-purchases
  15. https://en.cointribune.com/amp/argentine-government-eliminates-taxes-on-crypto-assets/ (Note: Headline may be slightly misleading, article clarifies only holding is untaxed, gains are taxed)
  16. https://charltonsquantum.com/bitcoin-meets-the-central-bank-argentinas-groundbreaking-exhibit-merges-art-and-crypto-mining/
  17. https://www.pragma καθημερινή.gr/business/how-to-get-a-crypto-license-in-argentina/ (Commercial site, but summarizes resolutions)
  18. https://sbsb.com/crypto-license/argentina/ (Commercial site, but summarizes requirements)
  19. https://sumsub.com/blog/aml-compliance-in-argentina/ (General AML, some crypto context)
  20. https://cardinals.law/crypto-license-requirements-in-argentina/ (Commercial site, but summarizes resolutions)
  21. https://coincodex.com/article/13500/crypto-regulations-in-argentina/ (This link appears to be a general overview, specific details are better covered by primary and more detailed secondary sources above) [Referenced indirectly via other summaries like]
  22. https://kychub.com/a-global-overview-of-cryptocurrency-regulations-in-2025/
  23. https://coinfomania.com/cryptocurrency-regulations-in-argentina/
  24. https://chambers.com/content/item/13602 (Duplicate of)

Note: Some URLs from the search results were to commercial entities offering licensing services; while they summarize legal points, primary sources or established financial news/legal analysis sites are prioritized where possible. Some articles may have slightly differing dates but report on the same regulatory events of 2024 and early 2025.

Web Sources (22)

Sources discovered via web search grounding

Search queries used (8)
  • Retail cryptocurrency trading regulations Argentina 2025
  • Argentina crypto regulation status 2025
  • Argentina CNV crypto regulations
  • Argentina UIF crypto AML KYC requirements
  • Argentina central bank cryptocurrency stance
  • Is cryptocurrency trading legal for individuals in Argentina?
  • Recent crypto laws Argentina 2025
  • Taxation of cryptocurrency in Argentina for individuals
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