PANews, October 22 news, according to Bitcoin.com, Argentina's securities regulator (CNV) recently announced a public consultation on a draft aimed at regulating the operations of virtual asset service providers (VASP) in the country and imposing new compliance requirements on these institutions. If Resolution No. 1025 is approved, it will force cryptocurrency companies to disclose agreements with third parties and customers. It also attempts to prevent money laundering and terrorist financing by establishing policies and cybersecurity standards. This framework is a follow-up to the VASP registration launched earlier this year.

One of the most controversial parts of the draft is its new classification for cryptocurrency companies, which sets a minimum registered capital for these companies to operate in the country. The minimum capital for institutions providing virtual asset transfers, custody, and management will be nearly $173,000. Individuals can participate in the exchange of fiat to cryptocurrency and cryptocurrency to cryptocurrency without having to establish a company.