The CNV regulates virtual asset service providers and requires minimum equity

The National Securities Commission (CNV) regulated the registration and obligations of Virtual Asset Service Providers (VASPs) through General Resolution 1172/2026, published in the Official Gazette on October 15, 2026. The measure, identified as RESGC-2026-1172-APN-DIR#CNV, replaces Chapter III of Title XIV of the RULES (N.T. 2013 and mod.) and applies to crypto exchanges and platforms operating in the country. The regulation is effective from the day following its publication.

The resolution is issued within the framework of Law No. 27,739, which incorporated the definition of VASP in article 4 bis of the Money Laundering Law and designated the CNV as the enforcement authority, in charge of the VASP Registry (article 37). The agency’s jurisdiction is limited to the activity of VASPs and does not extend to virtual assets, unless they qualify as negotiable securities according to article 2 of the Capital Markets Law.

The text follows General Resolution 994 (creation of the Registry) and General Resolution 1058 (comprehensive regulation of the activity), and responds to the process of regulatory simplification and harmonization. The case file is EX-2026-98381106-APN-GRC#CNV.

Mandatory Registration and Categories

Resident natural persons and legal entities constituted in the country that perform any of the covered activities must register in the VASP Registry before operating. Foreign companies must also register if they operate under any of these modalities:

• Use of a “.ar” domain.
• Agreements with third parties or affiliates that receive funds from Argentine residents (ramp services).
• Clear targeting of residents in the country.
• Advertising directed at the local market.
• Business volume in the country exceeding 20% of the total.

There are five categories: exchange between virtual assets and fiat currencies (1st); exchange between virtual assets (2nd); transfer (3rd); custody or administration (4th); and financial services linked to the offer or sale of a virtual asset (5th). Natural persons may only register in categories 1st and 2nd, and their registration proceeds when operations exceed, in aggregate, 35,000 UVA per calendar month.

Minimum Equity and Requirements

The regulation sets minimum net equity according to the category:

• Categories 1st, 2nd, and 4th: US$ 150,000.
• Category 3rd: US$ 75,000.
• Category 5th: US$ 35,000.

The requirement is reduced by 50% when the volume transacted or custodied in the last twelve months is less than US$ 2,500,000. Anyone registering in two or more categories must only comply with the most demanding one. The share capital must be fully paid-in and registered, and irrevocable contributions must be capitalized within six months.

Reporting Regime and Controls

VASPs must submit monthly information through the AIF within fifteen calendar days after the end of each month: number of clients, trading volume in dollars, details of the ten most traded virtual assets, and balances under custody. This regime will be applicable as of November 1, 2026.

Among other obligations, the resolution requires:

• Separation of virtual assets and client funds from those of the entity.
• Public proof of reserves on the website or application.
• Annual audit of systems and cybersecurity policies.
• Code of conduct and a regulatory compliance officer.
• Prohibition of using mixers (mixers or tumblers) and offering virtual assets that are negotiable securities without authorization from the CNV.

Sanctions and deregistration

Non-compliance will be sanctioned in accordance with Article 37 of Law No. 27,739 and Chapter I of Title IV of the Capital Markets Law. In the event of a possible illicit act by an unregistered VASP, the CNV may request the immediate blocking of the URL and username from the prosecutor’s office or the court. The cancellation of registration may be requested by the VASP itself, following notification to clients at least thirty calendar days in advance, or ordered by revocation by the agency or at the request of the UIF.

The resolution organizes the local crypto market under a single registry and homogeneous equity and information requirements, with specific rules for foreign platforms that acquire Argentine clients. For users, the framework incorporates proof of reserves, segregation of funds, and mandatory risk disclosure; for operators, it establishes concrete deadlines and sanctions.

Source: Official Gazette of the Argentine Republic, October 15, 2026, First Section (official reference: RESGC-2026-1172-APN-DIR#CNV).