Virtual Asset Service Providers: New Interpretative Criteria

On July 15, 2025, the Argentine Securities Commission (CNV) approved the Interpretative Criteria 96 regarding compliance with the minimum net worth (MNW) requirement for virtual assets service providers (VASP), as established in RG 1058.

Among other matters, the Interpretative Criteria establishes:

1. Capital Stock: VASPs must have fully paid up the capital stock amount at the time of registration and while their registration in VASP Registry is valid.
2. Registration: the capital stock must be registered in the Public Registry of Commerce.
3. Irrevocable Capital Contributions: Irrevocable capital contributions must be capitalized before requesting registration in the VASP Registry. To comply with the new requirements introduced through RG 1058, VASPs already registered under RG 994 must demonstrate that irrevocable capital contributions have been capitalized and that the capital increase was registered before the Public Registry of Commerce.
4. New Irrevocable Capital Contributions: any irrevocable capital contribution received while the VASP is registered must be capitalized, at the latest, six months after the competent corporate body accepts it.

Finally, VASPs registered under RG 994 may comply with the MNW requirement until November 30, 2025. Any outstanding documentation must be submitted through the CNV's Financial Information Reporting System by either August 1, 2025, or September 1, 2025, depending on the case and as established in RG 1058.