Argentina’s top financial regulator has mandated that crypto exchanges submit applications for operating permits, a requirement that will be applicable to both “legal entities and individuals.”
According to a judgment by the Securities and Exchange Commission (CVM), vendors who sell cryptocurrency in the country are now required to register with the “Virtual Asset Service Providers Registry (PSAV).”
The new regulation is applicable to both Argentine citizens and expatriates who engage in cryptocurrency trading within the country.
The CVM will require all vendors to submit their complete names and dates of birth. Additionally, they are required to furnish their addresses, tax codes, and telephone numbers.
Additionally, vendors are required to furnish the regulator with their social media usernames and website addresses, if applicable.
Applicants who are successful will be required to provide visitors with their CVM registration numbers by incorporating the necessary information into their website or social media profiles.
The document specifies that private vendors and companies will have a maximum of 45 days to adhere to the new regulations.
The regulations will apply upon their publication in the Legal Gazette (Boletín Oficial de la República Argentina).
This development transpires mere days after the Argentinian government authorized domestic organizations to acquire, receive, and retain cryptocurrency.
Top Argentinian regulators convened with their counterparts from El Salvador earlier this year to deliberate on the latter’s implementation of Bitcoin (BTC).
The CVM’s ruling included a definition of “virtual assets.” It referred to them as “digital representations of value that can be traded, transmitted, and used for payments or investments.”
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