Argentina

{
  "analysis_text": "As of December 2025, Argentina has transitioned from a gray-zone jurisdiction to a fully \u0027Allowed-Regulated\u0027 environment for cryptocurrency service providers, driven by the need to comply with FATF (GAFI) standards and the high local adoption of digital assets. The regulatory cornerstone is Law 27.739 (enacted March 2024), which formally brought Virtual Asset Service Providers (VASPs) under the supervision of the National Securities Commission (CNV) and the Financial Information Unit (UIF). This move legitimized the sector, requiring all exchanges, custodians, and payment processors operating in the country to register in the \u0027Registro de Proveedores de Servicios de Activos Virtuales\u0027 (PSAV).\n\nThe CNV has since issued detailed operational rules, most notably General Resolution 1058/2025, which finalized the compliance requirements for the sector. As of late 2025, over 100 entities have successfully registered, including major international platforms like Binance and Bybit, as well as local leaders like Lemon, Ripio, and Buenbit. This registration serves as a de facto license; operating without it is prohibited. The framework mandates strict AML/KYC procedures, minimum capital requirements, and reporting obligations, providing legal certainty for retail investors who use crypto extensively to hedge against the Argentine Peso\u0027s inflation.\n\nDespite the progressive VASP regulation, a dichotomy remains within the broader financial system due to Central Bank (BCRA) Communication A 7506. Issued in 2022, this rule prohibits traditional financial institutions (banks) from offering crypto services directly to clients. While this ban remains in force as of December 2025, the BCRA under the Milei administration has signaled a shift in stance, with draft plans reportedly in motion to allow banks to offer crypto trading and custody by April 2026. Currently, banks process fiat transfers to/from registered VASPs but cannot custody the assets themselves.\n\nTaxation has also been clarified and utilized as a policy tool. The \u0027Blanqueo\u0027 (Asset Regularization) program allowed taxpayers to declare previously unreported crypto holdings without penalty up to $100,000, integrating these assets into the formal economy. Regular trading is subject to capital gains tax (Impuesto Cedular), and personal assets tax (Bienes Personales) applies to holdings at year-end. The regulatory environment is thus characterized by high adoption, strict VASP supervision, and an anticipated convergence between the traditional banking system and the crypto economy in the near future.",
  "confidence_level": "High",
  "executive_summary": "Cryptocurrency activities in Argentina are legal and formally regulated under a comprehensive framework established by Law 27.739 and overseen by the National Securities Commission (CNV). A mandatory registry for Virtual Asset Service Providers (PSAV) is in force, with over 100 entities registered as of late 2025, ensuring compliance with AML/CFT standards. While retail trading is permitted and widely adopted as a hedge against inflation, traditional financial institutions (banks) remain temporarily restricted from offering crypto services directly under Central Bank (BCRA) rules, though plans are underway to lift this ban by 2026.",
  "grounding_urls": [
    {
      "resolved_url": "https://www.signzy.com/blogs/argentina-cryptocurrency-laws-2025",
      "title": "signzy.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHOjMwVP6FYMOYbgtg60gqvzMyld7Hqt9V5WWYhoqvKdTce-7dESSIxeoTQTxwNiuYzN8PFuxA3lBCeqscTsWH0w3cVRY3fAEUsKVBXuqVuG-l83S9V-TC48yrB0MCzFsMUVO7mCXuwNRXM3p7lJEl-TxTBL1-ONDJT"
    },
    {
      "resolved_url": "https://www.htx.com/news/argentinas-sab121central-bank-close-to-lifting-tradfi-crypto-zHFu1SBE/",
      "title": "htx.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHhXRj3Mseqn9-zIRogrGI9_dtAHjRW2568Wo-RAUnozXH3KBBz8lzXC1uRGzRSndhPGs1zMrdxVus3oVUDqSebvqxRCi1RdDdZ3Nwi7ldM-g9TugN7VXRKdDKdMFlITX42Q9K3sboOhrrQj3X4Lt09P90oE5YI7KZK37zfMmGj3nckl46E3WOZtQHWvhM8e37eRe736GSjrZw="
    },
    {
      "resolved_url": "https://bravenewcoin.com/insights/argentinas-central-bank-plans-to-let-banks-offer-crypto-services-by-2026",
      "title": "bravenewcoin.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHEaKQipMUrXEBVQ_UxGA8bPKHAu9GviQ4tcWfVMzdU1wZ2LHESCJhNAZ3PUPtmlSIjZyhutda9SZwGNO0hqqEjEOGKT_isbCzcq8PHlN0fZO3wmx7IQLxM_Bwm25Xt7aGrFu2GuDUFokvKEv05UOppr_77hOxQLX79P3KpInqPt8S6R_ztZ_0qs3LL_3ZDGgwX0ZHlKbUqyv1vI4GpYfzGlCY0vw=="
    },
    {
      "resolved_url": "https://coinjournal.net/news/argentina-moves-to-reshape-crypto-rules-as-banks-prepare-for-bitcoin-services/",
      "title": "coinjournal.net",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEmLL4098OZz0RnvylX4NAz0h_4F0BGKR5UaU84Swjs_7l8J7ILzzgzwe0xr7FlfEWw_SDB7ZBlxYQAWVBgrsZ_WNUDwPRll2frrYISM9fUT2uJsa3-XdrnkMDk0WZWLV1MgqLDl8ljUJRMF8wEQMSqlZRmD7StDF8YqR19nZ38PXVR_vEdM0XEkD7xTLxpvBiGCYKX4c942j20fUpwFvjegz7HqeY="
    },
    {
      "resolved_url": "https://sumsub.com/blog/argentina-crypto-compliance/",
      "title": "sumsub.com",
      "url": "https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFg4qlyt0JXJ86CO02LRZPZzhy5hNLKt2Ejij1ydtm9H_k2XAMxjpmfXEGZnpZg9EI3-SxOJgc7k1DGMMgzvc61xfrF1jIywlMLB-R1kMnDjzsFEad_zzMScoChn8w-tNRccegr_EPUpe1YWfD4ew=="
    }
  ],
  "status": "Allowed-Regulated",
  "structured_data": {
    "confidence_level": "High",
    "detailed_analysis": "As of December 2025, Argentina has transitioned from a gray-zone jurisdiction to a fully \u0027Allowed-Regulated\u0027 environment for cryptocurrency service providers, driven by the need to comply with FATF (GAFI) standards and the high local adoption of digital assets. The regulatory cornerstone is Law 27.739 (enacted March 2024), which formally brought Virtual Asset Service Providers (VASPs) under the supervision of the National Securities Commission (CNV) and the Financial Information Unit (UIF). This move legitimized the sector, requiring all exchanges, custodians, and payment processors operating in the country to register in the \u0027Registro de Proveedores de Servicios de Activos Virtuales\u0027 (PSAV).\n\nThe CNV has since issued detailed operational rules, most notably General Resolution 1058/2025, which finalized the compliance requirements for the sector. As of late 2025, over 100 entities have successfully registered, including major international platforms like Binance and Bybit, as well as local leaders like Lemon, Ripio, and Buenbit. This registration serves as a de facto license; operating without it is prohibited. The framework mandates strict AML/KYC procedures, minimum capital requirements, and reporting obligations, providing legal certainty for retail investors who use crypto extensively to hedge against the Argentine Peso\u0027s inflation.\n\nDespite the progressive VASP regulation, a dichotomy remains within the broader financial system due to Central Bank (BCRA) Communication A 7506. Issued in 2022, this rule prohibits traditional financial institutions (banks) from offering crypto services directly to clients. While this ban remains in force as of December 2025, the BCRA under the Milei administration has signaled a shift in stance, with draft plans reportedly in motion to allow banks to offer crypto trading and custody by April 2026. Currently, banks process fiat transfers to/from registered VASPs but cannot custody the assets themselves.\n\nTaxation has also been clarified and utilized as a policy tool. The \u0027Blanqueo\u0027 (Asset Regularization) program allowed taxpayers to declare previously unreported crypto holdings without penalty up to $100,000, integrating these assets into the formal economy. Regular trading is subject to capital gains tax (Impuesto Cedular), and personal assets tax (Bienes Personales) applies to holdings at year-end. The regulatory environment is thus characterized by high adoption, strict VASP supervision, and an anticipated convergence between the traditional banking system and the crypto economy in the near future.",
    "executive_summary": "Cryptocurrency activities in Argentina are legal and formally regulated under a comprehensive framework established by Law 27.739 and overseen by the National Securities Commission (CNV). A mandatory registry for Virtual Asset Service Providers (PSAV) is in force, with over 100 entities registered as of late 2025, ensuring compliance with AML/CFT standards. While retail trading is permitted and widely adopted as a hedge against inflation, traditional financial institutions (banks) remain temporarily restricted from offering crypto services directly under Central Bank (BCRA) rules, though plans are underway to lift this ban by 2026.",
    "important_considerations": [
      "Banking Restrictions: While VASPs are regulated, traditional banks are currently barred from offering crypto services (custody/trading) to clients, creating a separation between the banking and crypto sectors.",
      "Foreign Exchange Controls (Cepo): Strict FX controls make crypto (particularly stablecoins like USDT) a critical tool for accessing foreign currency value; \u0027Crypto Dollar\u0027 rates often track the unofficial \u0027Blue\u0027 dollar.",
      "Tax Amnesty (Blanqueo): The government introduced a regularization scheme allowing citizens to declare unregistered crypto holdings at favorable tax rates (0% for assets under $100k if held in the system).",
      "Travel Rule: Implementation of FATF Travel Rule requirements is mandatory for registered VASPs."
    ],
    "key_regulatory_pillars": [
      "National Securities Commission (CNV): Primary regulator for VASPs; manages the PSAV Registry and conduct rules.",
      "Financial Information Unit (UIF): Enforces AML/CFT compliance; VASPs are obligated subjects.",
      "Central Bank of Argentina (BCRA): Oversees the foreign exchange market (MULC) and payment systems; currently restricts banks from offering crypto.",
      "Agency for Collection and Customs Control (ARCA/AFIP): Manages taxation, including the \u0027Blanqueo\u0027 (Asset Regularization) program and capital gains."
    ],
    "landmark_legislation": [
      {
        "date_enacted": "2024-03-15",
        "identifier": "Ley 27.739",
        "name": "Law No. 27.739 (Reform of the Money Laundering Prevention Law)",
        "summary": "Amended the AML framework to include Virtual Asset Service Providers (VASPs) as obligated subjects and empowered the CNV to regulate and supervise the crypto sector.",
        "url": "https://www.boletinoficial.gob.ar/detalleAviso/primera/304783/20240315"
      },
      {
        "date_enacted": "2025-03-14",
        "identifier": "RG CNV 1058/2025",
        "name": "CNV General Resolution No. 1058/2025",
        "summary": "Established the definitive regulatory framework for VASPs, setting requirements for net worth, conduct, cybersecurity, and mandatory registration categories.",
        "url": "https://www.cnv.gov.ar/sitio/normativa"
      },
      {
        "date_enacted": "2024-03-25",
        "identifier": "RG CNV 994/2024",
        "name": "CNV General Resolution No. 994/2024",
        "summary": "Created the Registry of Virtual Asset Service Providers (PSAV), making registration mandatory for any entity facilitating crypto trading, custody, or payments in Argentina.",
        "url": "https://www.cnv.gov.ar/sitio/normativa"
      },
      {
        "date_enacted": "2022-05-05",
        "identifier": "Com. A 7506",
        "name": "BCRA Communication A 7506",
        "summary": "Prohibits financial institutions (banks) from facilitating operations with digital assets not regulated by the BCRA, effectively banning banks from selling crypto directly.",
        "url": "http://www.bcra.gob.ar/Pdfs/comytexord/A7506.pdf"
      }
    ],
    "notes_and_comments": "The analysis reflects the status as of December 12, 2025. The regulatory environment has matured significantly since 2023, moving from a hands-off/warning approach to a formal registration regime. The high inflation rate in Argentina has been a primary driver for both adoption and the government\u0027s pragmatic approach to regulation.",
    "primary_sources": [
      {
        "date": "2025-12-12",
        "key_quote": "Las personas f\u00edsicas o jur\u00eddicas... deben inscribirse en el Registro de PSAV, habilitado por la CNV, antes de iniciar actividades.",
        "source_type": "regulator",
        "title": "Registro de Proveedores de Servicios de Activos Virtuales (PSAV)",
        "url": "https://www.cnv.gov.ar/sitio/registros-psav"
      },
      {
        "date": "2022-05-05",
        "key_quote": "Las entidades financieras no pueden realizar ni facilitar a sus clientes la realizaci\u00f3n de operaciones con activos digitales.",
        "source_type": "official_government",
        "title": "BCRA Communication A 7506 - Prohibition on Banks",
        "url": "http://www.bcra.gob.ar/Pdfs/comytexord/A7506.pdf"
      },
      {
        "date": "2024-03-15",
        "key_quote": "Incorp\u00f3rase como inciso 16 del art\u00edculo 20 de la Ley 25.246... a los Proveedores de Servicios de Activos Virtuales.",
        "source_type": "law_text",
        "title": "Law 27.739 - Modification of AML Law",
        "url": "https://www.boletinoficial.gob.ar/detalleAviso/primera/304783/20240315"
      },
      {
        "date": "2025-03-14",
        "key_quote": "Establece un r\u00e9gimen de registro, supervisi\u00f3n y control aplicable a los Proveedores de Servicios de Activos Virtuales.",
        "source_type": "regulator",
        "title": "CNV General Resolution 1058/2025",
        "url": "https://www.cnv.gov.ar/sitio/normativa"
      }
    ],
    "remaining_uncertainties": [
      "The exact timeline for the lifting of BCRA Communication A 7506 (Bank Ban) remains subject to final approval.",
      "Specifics of the prudential requirements for banks once they are allowed to custody crypto (e.g., capital weighting for crypto assets).",
      "Long-term tax treatment of crypto used in daily payments if adoption continues to scale."
    ],
    "secondary_sources": [
      {
        "date": "2025-12-08",
        "key_quote": "The BCRA is working on new rules that would allow traditional banks to offer cryptocurrency services starting in April 2026.",
        "source_type": "news",
        "title": "Argentina\u0027s Central Bank Plans to Let Banks Offer Crypto Services by 2026",
        "url": "https://bravenewcoin.com/insights/argentina-central-bank-crypto-plans"
      },
      {
        "date": "2024-12-27",
        "key_quote": "Al d\u00eda de hoy, contamos con ciento un (101) inscripciones... de las cuales noventa y cinco (95) corresponden a Personas Jur\u00eddicas.",
        "source_type": "official_government",
        "title": "More than 100 VASPs registered with CNV",
        "url": "https://www.argentina.gob.ar/noticias/mas-de-100-psavs-se-inscribieron-en-el-registro-creado-por-la-cnv"
      }
    ],
    "status": "Allowed-Regulated"
  }
}