Tokenization Regime for Securities Now Expanded

On October 22, 2025, the Argentine Securities Commission (CNV) approved General Resolution 1087, which expands the scope of securities eligible for digital representation through tokenization.

Following this Resolution, tokenization will be allowed for the following securities, provided they fall under the medium-impact automatic public offering regime, frequent issuers, or frequent financial trust issuances, as applicable:
 

1. shares,
2. corporate bonds,
3. debt securities or participation certificates of financial trusts with public offering authorization under Law 26831,
4. credit closed-end mutual fund units with public offering authorization under Law 24083.

In all cases, issuers of securities under these regimes must request the CNV's prior authorization for their digital representation, by submitting an additional specific section, even in cases where they are not required to present a prospectus for CNV approval. This section must include key details about digital representation, such as its characteristics, associated risks, the Virtual Asset Service Providers (VASPs) involved, and the technology used, among other elements.

Finally, the Resolution establishes that issuances will not be required to be listed on authorized markets when they are 100% digitally represented. This exemption from the listing requirement applies to all instruments that, under current regulations, must be listed on authorized markets, regardless of whether they have automatic public offering authorization.

With this measure, the CNV reaffirms its commitment to modernizing the Argentine capital market, strengthening transparency, innovation, and access to new forms of digital financing.