According to Wu, the Argentine Securities Regulatory Agency (CNV) recently published a draft regulation on the operations of virtual asset service providers (VASPs).
The draft bill aims to strengthen protections for crypto users while imposing new compliance requirements on industry players.
The main contents of the draft include: requiring crypto companies to disclose agreements with third parties and customers; formulating policies and cybersecurity regulations to prevent money laundering and terrorist financing.
Different types of crypto companies have minimum registered capital requirements, with the minimum capital amount for institutions providing transfer, custody and virtual asset management services being approximately US$173,000.
