The Argentinean government is enacting new regulations of cryptocurrencies that are expected to operate locally. Argentina’s Comisión Nacional de Valores (CNV) issued a directive on March 25th requiring all cryptocurrency service operators to register and comply with all AML/CFT recommendations. This was confirmed after the Senate approved modifications to the existing AML/CFT rules.
Roberto Silva who is said to be the president of CNV stated that all providers who have not yet registered will not be able to work within the country. There were some concerns among Argentina’s crypto community following the implementation of a new rule in accordance with Financial Action Task Force (FATF) guidelines. These are just a few regulations that remain in force despite the fact that pro-Bitcoin Javier Milei was elected president in November 2023.
Some individuals using Strike, the popular payment app in Argentina, had reported difficulties with forwarding fiat to regular bank accounts.
Last in December of 2023, Argentina’s minister of foreign affairs shared his thoughts about the option of using crypto currencies to complete contracts.
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