Argentina will regulate cryptocurrency trading through executive orders

ChainCatcher news, the Argentine government is preparing to regulate cryptocurrency service providers through an executive order. The measure aims to keep Argentina off the Financial Action Task Force (FATF) gray list and place cryptocurrency lending institutions under the supervision of local securities regulators.

According to the new decree, all cryptocurrency service providers must register with the national cryptocurrency regulatory agency and operate under a license provided by that organization, even if they are not located in Argentina. Additionally, these institutions must provide information to the national intelligence agency to comply with anti-money laundering laws, forcing cryptocurrency service providers to issue risk reports and report suspicious activities.

The executive order is set to be published before March 6, when the FATF will visit Argentina to assess the anti-money laundering measures implemented since their last visit.