Argentina: Adopted CNV Resolution on Registry of Virtual Asset Service Providers (Resolution 994/2024)

On 22 March, the National Securities Commission (CNV) of Argentina adopted General Resolution 994/2024, establishing the Registry of Virtual Asset Service Providers (VASP). The measure implements Law No. 27,739, which reforms Law No. 25,246 on the Prevention of Money Laundering and Terrorist Financing and responds to Recommendation 15 of the Financial Action Task Force (FATF). The VASP Registry requires that individuals and legal entities residing in Argentina or abroad who carry out activities related to virtual assets, such as exchange, transfer, custody or financial services, register in the Registry and provide detailed information about their identity, address, activities and websites. Registration is mandatory before conducting such operations unless they do not exceed a monthly amount equivalent to 35’000 Purchasing Value Units (UVA). The CNV will exercise supervisory, regulatory, inspection, control and sanctioning powers over the registered Virtual Asset Service Providers. Existing VASPs have 45 days from the publication date of General Resolution No. 994 in the Official Gazette to request registration in the newly created VASP Registry. Resolution 994/2024 enters into force on the day of its publication in the Official Bulletin.