The Argentine Senate has passed a law on the creation of a registry of crypto companies
The Argentine Senate voted in favor of a law implying the creation of a registry, which should include any institutions providing cryptocurrency services to residents of the country.
According to the new document, crypto exchanges and virtual asset service providers (VASPs) will be required to comply with anti-money laundering (AML) measures. To do this, a special VASP registry should be created, which will be regulated by the National Securities Commission (CNV).
The amendments oblige crypto companies to provide government agencies with personal customer data and other information upon request. This is necessary for more transparent tracking of cryptotransactions, the authors assure. The amendments were made in connection with the recommendations of the Financial Action Task Force on Money Laundering (FATF).
Now large VASPs will have the resources to meet the requirements from the very first day, while small exchanges and P2P trading platforms may be forced to withdraw from the Argentine market.
Source: https://bits.media/senat-argentiny-prinyal-zakon-o-sozdanii-reestra-dlya-kriptokompaniy/
