Crypto license requirements in Argentina

As crypto adoption surged in Argentina — a high-inflation economy that has become Latin America's leading crypto market — the government moved to regulate it. Law No. 27,739 overhauled anti-money-laundering (AML) and counter-terrorist-financing (CTF) rules and introduced a dedicated licensing framework for Virtual Asset Service Providers (VASPs). For any crypto business touching Argentine users, it is now the gateway to operating legally.

Defining VASPs and licensing requirements

A VASP is any entity or individual that exchanges virtual assets for fiat or other virtual assets, transfers virtual assets, provides storage or management, or facilitates related financial services. Operating legally as a VASP requires a license from the Comisión Nacional de Valores (CNV), Argentina's securities regulator.

Public VASP registry and consumer verification

Once licensed, VASPs are listed in a public registry maintained by the CNV. The registry lets the public verify licensed providers, promoting transparency and consumer confidence in crypto services available in Argentina.

The resolutions shaping VASP operations

Two resolutions under Law No. 27,739 reinforce the framework:

• CNV General Resolution No. 994/2024 — mandates that all VASPs register with the CNV, residents and non-residents alike, if their activity involves Argentina.
• UIF Resolution No. 49/2024 — designates VASPs as reporting entities to the Financial Intelligence Unit (UIF), adding KYC, transaction monitoring, reporting and risk-management obligations to prevent financial crime.

These resolutions took effect on 26 March 2024, with a 45-day compliance window for VASPs already operating in Argentina.

Monthly reporting obligations

VASPs face strict, recurring reporting. Each month they must report all client account openings and closures, and any virtual-asset transaction equal to or exceeding six times the minimum wage, or over USD 1,350. They must also submit detailed personal information on account holders, ensuring traceability across crypto transactions.

Conditions for entry in the VASP registry

Local and foreign VASPs must register with the CNV's VASP Registry if they meet certain conditions, including:

• using an ".ar" domain for operations;
• entering commercial agreements that facilitate receiving funds from Argentine residents;
• targeting Argentine residents through advertising;
• generating over 20% of turnover from Argentina.

Registration requires basic legal and commercial information, but entities based in non-cooperative jurisdictions — or those deemed high-risk by the Financial Action Task Force (FATF) — are barred from registering. For foreign VASPs, registration does not by itself amount to CNV supervision; it lays the groundwork for future oversight. Across the board, the law prioritises consumer protection, requiring high standards of:

• protection of user information and personal data;
• operational efficiency and stability;
• transparency and solvency in financial operations;
• AML practices to curb financial crime;
• safeguarding of public savings.

Worth noting: registration is not licensing. A registered foreign VASP is not, by that fact alone, supervised by the CNV — but it sits inside a framework built to extend oversight over time.

The "Blanqueo" asset-regularisation program

Alongside these rules, Argentina ran an asset-regularisation program known as blanqueo, letting individuals and businesses declare previously undeclared assets — including crypto — by paying a tax. Its first phase closed on 31 October 2024, with participation open until 30 April 2025 and a final sworn-declaration deadline of 30 May 2025.

The blanqueo program dovetails with the reporting duties placed on VASPs: by declaring assets and meeting VASP standards, the state aims for a secure, transparent process for handling digital assets while limiting money-laundering risk.

Conclusion

Argentina's VASP regime under Law No. 27,739, combined with the blanqueo program, marks a significant step in maturing the country's crypto industry. For crypto businesses targeting Argentina, understanding the licensing, registration and reporting requirements is not optional — it is the price of legal market access.

If you are entering the Argentine crypto market, our Digital & Crypto Assets team can map your VASP licensing and registration path and build the AML/KYC and reporting framework around it. For cross-border structuring of the operating entity, see also International Structuring.

This material is provided for general information only and does not constitute legal advice. The legislation referenced is current at the date of publication and may change. For advice on a specific matter, contact Cardinals Law Firm.