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Obtain a Crypto License in Argentina

Obtain a Crypto License in Argentina

The pro-crypto views in Argentina made the authorities implement extra measures in this area of interest. Opening a cryptocurrency company in Argentina is a process that can be supervised by our team of agents, who can also deal with obtaining a crypto license. We invite you to discover some information about this topic in the following lines.

What crypto registration conditions were adopted in Argentina recently?

Registration for crypto changes in Argentina benefited from extra measures, starting with March 2024. In this case, the government and the authorities wanted to align with the Anti-Money Laundering and Combatting the Financing of Terrorism legislation and new guidelines imposed. Thus, the improved legislation emphasizes the following:

  • Registration of virtual assets service providers is mandatory with the National Securities Commission in Argentina.
  • Cryptocurrency companies need to follow the Financial Action Task Force guidelines in Argentina and obtain approvals from the government. Practically, the crypto license in Argentina is obtained only after the relevant authorities give their consent in this regard.
  • The Registry of Virtual Assets Service Providers in Argentina or VASP was created.
  • The new changes to the legislation provide for the enforcement of anti-money laundering while combating the financing of terrorism through digital currency.

We also specify that at the end of 2023, the new presidency legalized the use of cryptocurrencies for varied payments and contract settlements in Argentina, taking into account the extremely high inflation in this country, of over 200%. Obtaining a crypto license in Argentina requires attention from all points of view. That’s why we recommend you discuss all aspects with one of our local agents who can also help you with company formation in Argentina if you want to start a cryptocurrency business.

About Argentina’s Cryptocurrency Law

In theory, cryptocurrency in Argentina is not considered legal. However, virtual currency can be used for varied payments, as recently established. In fact, the Central Bank in Argentina is the only authority to issue legal currency in this country, considering that cryptocurrency is not a legal currency. Also, according to the Civil and Commercial Code in Argentina, virtual currency is considered money but not legal currency. Here is what the statement recently published by the Argentinian National Securities Commission includes:

  • Cryptocurrency is a digital representation of value/store value/account unit that can be digitally traded and works as a medium of exchange, without legal tender status.
  • Profits resulting from the sale of digital currency are considered income and are subject to taxation, according to the Income Tax Law 2017 in Argentina.
  • Under the Financial Crimes Enforcement Network, crypto miners are considered money issuers, subject to the laws governing such activities in Argentina.

Moreover, the legislation can be explained in detail to those interested in obtaining a crypto license in Argentina before developing such activities. We invite you to contact us and learn more about this topic and about opening a company in Argentina.

Statistics about cryptocurrency in Argentina

If you want to set up a company in Argentina in the field of digital currency, you might be interested in the following aspects:

  • 15 is the Crypto Adoption Index Ranking for Argentina.
  • Revenues of USD 193.6 million in 2024 in the cryptocurrency market are estimated.

In addition to support for obtaining a crypto license in Argentina, our local agents can also help you in other endeavors. For example, we can assist local and foreign entrepreneurs in company incorporation in Argentina. Contact us for more information and personalized offers if you want to start a company in Argentina.