The Argentine government is enacting new restrictions for cryptocurrencycurrency that are expected to operate domestically. Argentina’s Comisión Nacional de Valores (CNV) issued an order on March 25th mandating all cryptocurrencycurrency service providers to register and follow all AML/CFT recommendations. This was confirmed after the Senate approved changes to the current AML/CFT rules.
CNV’s president, Roberto Silva, has indicated that all providers who have not yet registered will be unable to work in the country. The adoption of a new law in accordance with Financial Action Task Force (FATF) rules raised some concerns among Argentina’s cryptocurrency sector. These are only a handful of the regulations that remain in effect despite the fact that Bitcoin supporter Javier Milei was elected president in November 2023.
Some users of Strike, Argentina’s popular payment app, reported issues with moving fiat to traditional bank accounts.
Last December 2023, Argentina’s minister of foreign affairs expressed his thoughts on the possibility of using cryptocurrencycurrency to execute contracts.
