New Step Towards Open Finance

On May 23, 2025, the Executive Branch issued Decree 353/2025, instructing the relevant authorities to implement the necessary regulatory reforms aimed at simplifying and deregulating procedures related to investment and the acquisition of goods, in order to promote economic recovery and reduce bureaucratic burdens.

On the one hand, the Financial Intelligence Unit (UIF) has a period of 30 calendar days from the entry in force of this decree to assess whether its regulations require adjustments.

On the other hand, the Argentinean Tax Authority (ARCA) must simplify its regulations regarding information regimes, oversight procedures, and other matters under its responsibility. Moreover, ARCA shall implement, gradually and in different stages, an optional and simplified system for the declaration of Income Tax by resident individuals and undivided estates, beginning on or after January 1, 2025.

Finally, the Open Finance System was created so that individuals and legal entities, through their express consent, can share the information they deem relevant with entities that are part of the financial system and are registered with the Argentine Central Bank (BCRA), with the purpose of promoting credit development, market competition, and financial inclusion.

The BCRA will act as the enforcement authority for the Open Finance System and will define the parameters, standards, and requirements that must be met by other agencies of the Executive Branch and financial system entities participating in the Open Finance System, in order to facilitate access to credit.

Additionally, the BCRA may coordinate with any other national, provincial, City of Buenos Aires or municipal agency or authority to gather the necessary information to ensure the security of the processing of such information.

None of the provisions of this decree or of any subsequent regulation shall exempt the entities listed in Section 20 of Law No. 25,246 and its amendments from complying with existing obligations regarding anti-money laundering, counter-terrorism financing, and the prevention of the financing of the proliferation of weapons of mass destruction.