Main things to know about the Argentina Crypto License
The crypto license in Argentina was voted in March 2024 and entered into force in April of the same year. The framework is established with the simultaneous passing of the Resolución General 994/2024, defining what is a virtual asset service provider, and of the Ley 27739, appointing the National Securities Commission (NSC) as the VASP regulator and amending the existing AML law to add in VASPs to its application.

The main lines structuring the crypto framework in Argentina for businesses are the following:

The necessity to properly register as a VASP to the National Securities Commission (NSC);
The obligation to fulfill AML-KYC duties and reporting to the Financial Intelligence Unit (FIU).
In about a year of activity, the crypto license in Argentina has gathered more than a hundred authorized VASPs, making it one of the most successful and sought after in recent times.

Doing crypto business in Argentina? You may need a VASP license in Argentina
If you are a VASP operating from another jurisdiction, and a significant amount of your business is conducted in Argentina (targeting residents of the country), you may be liable to register with the National Securities Commission (NSC). A proxy for knowing if the NSC considers your activity in Argentina to be significant is that 20% or more of your turnover is generated in the country.

This means that the crypto framework in Argentina has territorial effect. Foreign VASPs are required to register in case of having an important volume of activity in the country. Rengang can also assist with the additional registration for operating crypto companies operating in the Argentinian market.

Argentina VASP License: Process and Duration
The VASP licensing process in Argentina is straightforward, but requires correct preparation to work. An application file must be carried out to the Argentina National Securities Commission, including all the necessary elements in proper form.

Usually, the process entails the registration of a company in Argentina. Rengang includes this step of the process in its offer, for a seamless registration with minimal hassle. Once the company is registered, the application is carried out for revision by the NSC.

As the registration as a virtual asset service provider is successful, the new crypto company in Argentina can undertake the opening of corporate accounts for its activity. Rengang is also able to provide assistance on the matter of banking, as part of our services.

A complete set-up in Argentina takes approximately 2 to 3 months, provided that the applicant swiftly provides all the necessary documents and information.

Types and scope of crypto licenses in Argentina
It is important to specify, for the sake of legal accuracy, that the framework in Argentina is a VASP registration and not a license. This means that the process is simpler, as it implies a registration under condition instead of a full fledged licensing process.

The Ley 27739 defines a virtual asset service provider in Argentina as the provider of one of more of the following activities:

Exchange between virtual assets and legal tender currencies;
Exchange between one or more forms of virtual assets;
Transfer of virtual assets;
Custody and/or administration of virtual assets or instruments that allow control over them;
Participation and provision of financial services related to the offer of an issuer and/or sale of a virtual asset.
This means that the VASP license in Argentina is only regulating a common subset of crypto activities.

All businesses willing to provide more sophisticated or innovative services are encouraged to discuss the feasibility of their project in Argentina with one of our legal experts.