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

The Digital Europe Programme: overview

The Digital Europe Programme is an innovative EU financing program launched with the purpose to bring DLT to individuals, legal entities, and public administrative bodies. It tries to cover many facets including how to make the European Union more ecologically friendly and more digital – these two pillars are probably the most challenging for our...

Subscriber legal service

Subscriber legal service. Subscriber legal service is the provision of assistance in legal matters to entrepreneurs and organizations. Here the client can receive advice, preparation of documents, legal support in courts and government bodies, as well as answers to legal questions at any convenient time in writing or orally. Eternity Law International offers clients legal...

Company registration in Peru

Peru is a fairly popular area for foreign investors, since it is distinguished by a special loyalty to capital owners who want to invest in commercial structures on the territory of the state. For non-residents, Peru offers several of the following forms of business. Commercial firm with limited liability of its members. This is a...

Investment fund in Bahamas

The Bahamas has become a popular location for many licensed investment funds due to its favorable terms and efficient regulation. The Investment Funds Act (IFA Act) has played an important role in strengthening the Bahamas’ position in the global investment vehicle management market. The Securities Exchange Board (SCB) regulates, licenses and registers investment fund Bahamas....

Forex broker account

The world’s largest financial market is Forex, which exchanges currencies at market prices. Back in 1977, the cash flow in the Forex market was more than 5 billion, and in 2016 it was 5 trillion dollars. He replaced the established standards for the freedom of currency exchange. Additional financial flows were needed for different countries. Over time, people...

Ready-Made Business in Estonia

Establishing business in Estonia gives entrepreneurs opportunities to interact directly with the EU market. Estonia occupies a leading position in the global community in terms of the quality and quantity of evolving technologies for digital management, which are actively used in commercial environments. It’s Estonia founded Digital 5. Ready-made business in Estonia – many variations...

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:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360