Argentina Enforces New Regulations for Crypto Services Amidst FATF Recommendations

The Argentina government has recently enforced new regulations requiring cryptocurrency exchanges to comply with recommendations from the Financial Action Task Force (FATF) in order to operate legally within the country. The Comisión Nacional de Valores (CNV), Argentina's securities regulator, announced that virtual asset service providers must adhere to Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) reforms, necessitating registration with the Argentine government. Roberto Silva, CNV President, emphasised that failure to register would result in the inability to operate in the country. These regulations, introduced in March and enforced amidst concerns about money laundering and terrorist financing, have raised uncertainty about the future of digital assets in Argentina. Additionally, businesses like Strike have reportedly adjusted their services in response to the new regulations, disabling certain options for local users.