New Interpretative Criterion for VASP

On September 1, 2025, the Argentine Securities Commission (CNV) published Interpretative Criteria 97, which sets out guidelines on the corporate purpose required for companies seeking to register as Virtual Assets Service Providers (VASP) in Argentina.

For entities incorporated in Argentina, the corporate purpose must expressly include the company’s activity as a VASP. Generic or ambiguous formulations that could be construed as implicit will not be accepted.

For entities incorporated abroad, it is acceptable that the corporate purpose of the parent company includes VASP-related activities either expressly or implicitly, if this is consistent with the applicable regulations in its jurisdiction of origin and with the activities to be carried out by the branch in Argentina.

Companies are also required to publish on the Financial Information Highway (AIF) the consolidated text of their current bylaws, duly registered before the Public Registry of Commerce.

With this measure, the CNV seeks to provide greater clarity on the statutory requirements for VASP, facilitate supervisory processes, and contribute to the transparent and orderly development of services related to virtual assets in Argentina.