Argentina: Financial Action Task Force released report on regulatory recommendations for stablecoins and unhosted wallets

On 3 March 2026, the Financial Action Task Force (FATF) published a report on stablecoins, focusing on their use in peer-to-peer (P2P) transactions via unhosted wallets. The report notes that by mid-2025, over 250 stablecoins were in circulation, with a total market capitalisation exceeding USD 300 billion. It identifies stablecoins as increasingly used in illicit activities, including money laundering and terrorism financing. The report encourages jurisdictions to implement legal frameworks aligned with FATF Standards and to apply anti-money laundering and counter-terrorist financing (AML/CFT) obligations to stablecoin issuers, intermediaries, and custodians. To address potential vulnerabilities, the FATF recommends monitoring transactions that bypass traditional AML/CFT-regulated financial intermediaries. The report also outlines risk mitigation practices, such as embedding programmable controls in smart contracts to enable freezing or deny-listing of assets in secondary markets, and provides members of the FATF Global Network with indicators of misuse and guidance for addressing these risks.