Eternity Law International — News — VASP License in Argentina

VASP License in Argentina

Published:
November 14, 2024

This type of licence is increasingly relevant as this region becomes a hub for e-currency operations. To obtain VASP licence in Argentina is essential for operating legally within Argentina’s growing crypto market, offering multiple benefits from regulatory support to potential tax incentives.

Advantages of VASP Licence

  1. Legality and Trust: Operating with this type of crypto licence in Argentina  permits e-currency profit-oriented operations to function legally, enhancing their status and building customer confidence.
  2. International Obedience: This region adheres strictly to the FATF’s AML/CFT recommendations, meeting global procedures critical for worldwide operations.
  3. Clients shielding: Legislative measures focus on client shielding, guaranteeing safer transferring operations and reducing risks for users.
  4. Economic Stability: Argentina’s surging prices has positioned e-currencies as valuable assets, with licensed entities able to provide exchange, storage, and asset management services.
  5. Innovation Opportunities: Complex legislation enables licensed companies to pioneer sophisticated technologies and pioneering monetary issues.
  6. Supervisory Loyalty: Argentina actively upholds crypto firms, facilitating cooperation with banks and payment systems.

Demands for receiving this type of licence

The submission routine entails several prerequisites:

  • Regional Presence: Natural or legal persons in this region ought to submit with the VASP Registry.
  • Documentation: fulfil evidence of identity, organisation incorporation documents, and obedience with AML/CFT protocols.
  • AML/CFT Obedience: Organisations ought to adopt KYC measures, monitor suspicious activities, and adhere to FATF standards.
  • Foreign Units: Foreign companies targeting the Argentine market (e.g., using “.ar” domains or engaging local partners) must register if their local turnover exceeds 20% of their total revenue.

Procedure for Receiving Certification

The steps involved in securing a VASP licence include:

  1. Pre-Submission: Fulfil a preliminary submission form with the CNV, detailing planned operations.
  2. Document Registration: Provide certified copies of corporate paperwork to confirm legal establishment.
  3. Monetary Disclosure: Fulfil monetary statements and a commercial strategy outlining the company’s objectives and funding sources.
  4. AML/KYC Obedience Verification: Illustrate adherence to KYC and AML procedures.
  5. Inspection and Approval: The CNV will verify paperwork; upon approbation, the organisation receives authorization to function.

Types of Crypto Licences

  1. Fiat Currency Exchange: Enables shifting between cryptocurrencies and traditional money.
  2. Virtual Investment Swap: Allows e-currencies exchanges (e.g., Bitcoin for Ethereum).
  3. Transaction Facilities: Assists e-currencies transfers between accounts.
  4. Storage and Management: Authorises organisations to store and manage digital assets securely.
  5. Monetary  Facilities: Permits companies to offer financial services related to virtual assets, including ICOs.

Regulation of VASPs in Argentina

In March 2024, Law No. 27,739 was enacted, forming a legal foundation for AML/FT protocols. Key regulatory resolutions include:

  • CNV General Resolution No. 944/2024: Mandates VASP registration and applies to both residents and foreign entities engaging with the Argentine market.
  • UIF Resolution No. 49/2024: Imposes AML/CFT obligations, including KYC, transaction monitoring, and risk management.

Taxation and Monetary Incentives

The Argentine government has introduced a crypto-friendly tax framework, proposing exemptions on capital gains and specific transaction thresholds. Additionally, companies with crypto holdings registered under the CNV may benefit from tax breaks, contributing to a favourable environment for crypto activities.

Are e-currencies regulated in Argentina?

Yes, the legislative scheme is evolving, with recent laws targeting AML/CFT compliance. Digital currencies commercials must register with the VASP Registry to function legally.

Why is a VASP licence necessary in Argentina?

A VASP licence is essential to meet AML/CFT standards and gain CNV authorization, ensuring legal and secure operations within the Argentine jurisdiction.

What is the submission routine for a VASP licence?

The process includes submitting documentation, compliance verification, and inspection by the CNV. Once approved, companies are permitted to provide cryptocurrency services legally.

Are there tax gains for licensed crypto organisations in Argentina?

Yes, Argentina offers tax incentives, including exemptions for certain crypto activities, which can attract investment and foster business growth in the crypto sector.

Are foreign VASPs required to register in Argentina?

Yes, foreign VASPs that conduct significant business in Argentina must register with the CNV if they use “.ar” domains, engage local partners, or if Argentine activities account for more than 20% of their turnover.

Businesses for sale

VASP license in Switzerland for sale

Europe, Switzerland Crypto licenses for sale
This is a VASP license in Switzerland for sale (virtual asset service provider). VASP license in Switzerland for sale: what’s included Registration place: Cantone Zug. Company has VAT number. The license for dealing in cryptocurrency in place. Bank accounts included in sale. Apps with Play Market and Apple Store are included in the price. Possibility...

Crypto license in Lithuania with Cyprus VASP License for sale

Europe, Lithuania Crypto licenses for sale
A new investment opportunity – Crypto license in Lithuania with Cyprus VASP License for sale. Please check out the details regarding this proposal below. Crypto company for sale: general provisions regarding the transaction Year of company registration – 2022; Status of the legal entity: Non-operational; Bank accounts: no bank account at the moment; Type of...

Lithuanian VASP (Virtual Asset Service Provider) for Sale

Europe, Lithuania
Key Details of this Lithuanian VASP: Licensed VASP: Established in 2021 with full authorization from FNTT. Banking Setup: Active PSP account with a Lithuanian EMI for smooth operations, and a local bank account for tax and salary payments. Financial Stability: No loans or debts, in good standing, compliant with AML/KYC regulations. Legal and Operational Support:...

You could be interested

Asset management license in Spain

The Spanish asset management sector is not subject to uniform legislation, but some rules in this area are enshrined in the Securities Market Law. The diversity of organizations involved in asset management in Spain means that there are no uniform rules. The industry, having developed rapidly in recent years, faces constant changes in relatively new...

Romania Authorised Crypto Companies

From a societal standpoint, the industry of virtual currencies and blockchain has undergone a well-defined progression. At the dawn of their existence, it was just an innovation which rapidly developed as an integral part of a modern world. Nowadays, recent emerging technologies evolved into new ways of convenient payments, a non-centralized substitute for the traditional...

Electronic Money Institution (EMI) in Bulgaria

EMIs have gained prominence as innovative monetary favor suppliers, especially in the realm of digital remittances. In Bulgaria, EMIs play a vital role in enabling electronic money transmissions, facilitating online transfers, and offering alternative banking solutions. This article explores the concept of EMIs in Bulgaria, their adjustment framework, and the benefits they offer to business-companies...

Offshore Company Liquidation in Gibraltar

Liquidating a company in Gibraltar is a mechanism governed by particular lawful and legislative schemes. It demands careful strategy, abidance by local laws, and the involvement of qualified professionals to guarantee a steady handover. In this article, we found out the major aspects of company liquidation in Gibraltar, embracing the phases, requisites, and typical concerns...

Company Formation and Incorporation Options in Brazil in 2023

This jurisdiction is quite popular and has a reputation as a reliable commercial platform among foreign businesspersons. To register a business in Brazil is a rather laborious process in terms of accounting for and compliance with certain rules prescribed by the local regulator and set by government agencies. However, the establishment of enterprise in this...

UK gambling license

Operators in Britain, whose purpose is to provide users with gambling services, must obtain a gambling license in the UK – permission to conduct such a business. It is issued by the British Commission, which controls the sphere of gambling. The organization issues warnings to unlicensed operators who give access to games to UK citizens,...

Related posts

Features of VASP registration in Argentina 2025

This article examines the dynamic evolution of VASP registration. In VASP License in Argentina, recent regulatory changes are discussed, offering insights into the transformative legal landscape. The text outlines essential aspects and practical steps for securing a VASP license in Argentina while emphasizing contemporary legal reforms. Overview of VASP Registration VASP registration represents the formal...

Crypto License in Argentina as your investment

Argentina’s evolving cryptocurrency regulatory framework is undergoing profound transformation, presenting discerning investors with exceptional prospects in the realm of digital finance. Amid escalating global demand for robust digital asset oversight, this treatise meticulously examines the intricate benefits, legal stratagems, and emerging opportunities that accompany the acquisition of a crypto license in the country. By elucidating...

VASP Regulation in Argentina 2024

With the development of cryptocurrency technologies and their growing popularity around the world, the issue of regulation of crypto assets is becoming increasingly relevant. Argentina, one of the Latin American countries with an active crypto-currency market, has taken significant steps in recent years to create a regulatory framework for virtual assets and related services. In...

PSP license in Argentina

Advanced innovation has had a huge effect on how electronic payments work in Argentina. The main reason for this big change is because of the Payment Service Providers (PSPs). They are very important in how money is exchanged in the country. In order to thrive and achieve success in this evolving landscape, acquiring a PSP...

Offshore VASP license

Fintech services are actively developing today. Every month new corps are enlisted in many countries, which are ready to work in this sphere. Traditionally, most attention is paid to offshore zones. Such territories have the most applications to the controlling authorities for obtaining the relevant authorization documents. However, the legislation in this area also changes...

Company registration in Argentina

Argentina still has not been able to fully overcome the economic crisis that has been going on over the past decade. The state must still make a lot of efforts to revive the economy. Therefore, the country’s government is trying its best to attract foreign investors. In recent years, experts say, Argentina has been moving...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank: