Bybit, a cryptocurrency exchange, has obtained registration as a virtual asset service provider (VASP) and card operator from Argentina’s Financial Information Unit (FIU). The VASP registration, introduced in March to align with Anti-Money Laundering and Combatting the Financing of Terrorism requirements, signifies Bybit's commitment to compliance. Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022, allowing users to withdraw funds in fiat currency. Despite halting operations in France and Canada due to regulatory issues, Bybit's registration in Argentina reflects the growing crypto adoption in the country. Argentina, ranked 15th globally for crypto adoption, has faced pressure from the FATF to regulate its crypto market. Recent legislation has provided tax amnesty on registered crypto assets, signaling a shift towards crypto-friendly policies in the region. Read more AI-generated news on: https://app.chaingpt.org/news