Roberto Silva, President of the Comisión Nacional de Valores (CNV), emphasized that unregistered virtual asset service providers would be prohibited from operating within Argentina.

The Argentine government has initiated the enforcement of regulations mandating cryptocurrency exchanges to adhere to legal requirements for operation within the country.

In an announcement made on March 25, the Comisión Nacional de Valores (CNV) of Argentina, akin to a securities regulator, disclosed that virtual asset service providers must comply with recommendations set forth by the Financial Action Task Force (FATF). These recommendations are part of broader reforms to Argentina's Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) laws.

The enactment of legislation governing crypto providers in Argentina took a significant step forward on March 14, following the approval of amendments to laws aimed at preventing money laundering and terrorist financing by the country's Senate. Roberto Silva, President of the CNV, underscored that virtual asset service providers failing to register "will not be able to operate in the country."

The proposed modifications to Argentina's legal framework concerning crypto users were reportedly introduced prior to Javier Milei's victory in the country's presidential election in November 2023. While Milei's apparent pro-Bitcoin stance garnered praise from many cryptocurrency enthusiasts, the implementation of FATF requirements has raised concerns regarding the future of digital assets in Argentina.

Reports have emerged indicating that several users on Strike, a platform popular in Argentina for facilitating Bitcoin payments via the Lightning network, have experienced limitations, including the inability to send fiat currency to bank accounts. The implications of these regulatory requirements on businesses operating in Argentina and on customers seeking to utilize their services remain uncertain. Notably, in December 2023, Argentina's Minister of Foreign Affairs suggested that contracts could be settled using Bitcoin and other cryptocurrencies.

Javier Milei made public remarks on April 2 during a Malvinas Day ceremony commemorating the lives lost during the Falklands War in 1982.