CNV General Resolution No. 1172/2026, published in the Official Gazette on October 15, 2026
Argentina’s National Securities Commission (CNV) fully replaced the chapter of its Rules governing Virtual Asset Service Providers (VASPs, known locally as PSAVs), such as crypto exchanges and custodians. The new text has been in force since October 16, 2026. It supersedes the framework of General Resolution 1058/2025 and moves into the text of the Rules what was previously set out in Interpretive Criteria Nos. 95, 96 and 97, which are therefore repealed.
What does it establish?
- Express corporate purpose. The bylaws of a local company must expressly provide for its activity as a VASP. Generic wording, such as “technology services”, is no longer accepted.
- Quality of capital. In addition to the minimum net worth (USD 35,000 to USD 150,000 depending on the category), share capital must be fully paid in and registered, and irrevocable contributions must be capitalized.
- Individuals. Individuals may only register if their activity on behalf of third parties exceeds UVA 35,000 per month, evidenced by an accountant’s certification. The threshold used to work as an exemption; it is now a requirement for registration.
- Monthly reporting. From November 1, 2026, VASPs must report active clients, trading volume, the ten most traded assets and balances held in custody, even with no activity.
- Material events. VASPs must promptly disclose to the CNV events such as losses exceeding 15% of net worth, security incidents, system outages or the decision to cease operations.
- Orderly wind-down. Deregistration requires 30 days’ prior notice to clients and mechanisms for them to withdraw or transfer their balances.
- Ban on mixers. VASPs may not offer mixers or other anonymization services that impair the traceability of transactions.
Why does it matter?
The CNV replaces case-by-case discretion with written rules. For providers that already operate in compliance, this brings predictability. For those relying on ambiguous wording, it requires immediate adjustment, often including a prior amendment to the bylaws.
The change with the greatest practical impact is the reporting regime. The first report, covering November, is due on December 15, 2026 and requires systems to be adapted to a mandatory technical format.
