Crypto Overview in Argentina

Regulatory data is for informational purposes only and may not reflect the most current legal developments. Always consult qualified professionals before making decisions.

Legal Classification and Regulatory Framework

Cryptocurrency Status

Argentina has established itself as one of Latin America’s most crypto-engaged nations, driven by recurring economic challenges including high inflation, currency devaluation, and capital controls. Cryptocurrencies are not recognized as legal tender, with the Argentine Peso remaining the official currency. Digital assets are legally acknowledged, however, and can be held, traded, and used for various transactions within the country.

Cryptocurrencies are generally treated as intangible assets rather than currency or securities, placing them under property law for ownership, transfer, and inheritance purposes. The BCRA has confirmed that crypto does not constitute currency under Argentine law. Certain structured token offerings resembling investment contracts may fall under CNV securities jurisdiction depending on their economic terms.

Tax Treatment

The Agencia de Recaudacion y Control Aduanero (ARCA, which replaced AFIP in late 2024) treats cryptocurrencies as taxable assets. Capital gains on crypto sales are subject to progressive income tax rates of 5% to 35%, or a flat 15% capital gains rate when the transaction is denominated in foreign currency or conducted on a foreign platform. Individuals must also declare crypto holdings under the personal assets tax (Impuesto sobre los Bienes Personales), which applies rates of 0.5% to 1.75% on the value held as of December 31 each year.

In June 2024, Congress enacted Law 27,743, introducing the Regimen de Regularizacion de Activos. This was the first Argentine asset amnesty program to explicitly include cryptocurrencies (Article 24h). Residents could declare undeclared crypto holdings with no tax on amounts up to USD 100,000, and a 5% rate on the excess during the first stage (through October 31, 2024). Declared crypto had to be custodied at a registered Argentine VASP. The broader program attracted over USD 18 billion in disclosed assets across all asset classes.

ARCA requires local exchanges to report user transactions and has increasingly sophisticated tools to cross-reference declared and undeclared crypto income. Annual tax returns are due by June 30, with penalties of 25% of unpaid tax plus interest for non-compliance.

Regulatory Oversight

Three bodies share primary oversight of the crypto sector. The CNV is the lead VASP regulator under Law 27,739. The BCRA governs financial institutions and their interaction with digital assets. The UIF serves as Argentina’s financial intelligence unit, overseeing AML/CFT compliance for all obligated subjects including VASPs.

The UIF requires VASPs to implement comprehensive AML programs including customer due diligence, ongoing transaction monitoring, and suspicious activity reporting. Argentina has aligned its framework with FATF international standards and pledged implementation of the Travel Rule, successfully avoiding placement on the FATF grey list.

Business Environment

Banking Relationships

The relationship between Argentine banks and the crypto sector has been structurally restricted since May 2022, when the BCRA prohibited financial institutions from facilitating or carrying out digital asset transactions. This ban was driven by concerns about financial stability, capital controls, and AML risk. As a consequence, most crypto activity has taken place through standalone exchanges, payment processors, and informal peer-to-peer channels.

This is changing. In December 2025, the BCRA announced it is drafting rules to allow commercial banks to offer crypto trading and custody services, potentially by April 2026. Under the proposed framework, banks would need to operate crypto services through separate legal units subject to enhanced capital, liquidity, and cybersecurity requirements. Permitted assets are expected to be limited to BTC, ETH, USDC, USDT, and XRP. The reversal reflects both widespread public adoption and the pro-market stance of the Milei administration. The BCRA has not confirmed a final implementation date.

The banking restrictions have inadvertently accelerated peer-to-peer adoption, as Argentines developed alternative methods for converting between pesos and digital dollars outside the traditional financial system.

Innovation Support

Argentina’s strong software engineering talent pool and entrepreneurial culture have made it a notable hub for blockchain development. Several provinces have attracted cryptocurrency mining operations by offering competitive electricity rates, and Argentine developers contribute to global blockchain projects while building locally focused solutions. Educational institutions have expanded blockchain curricula, and industry associations actively engage policymakers on regulatory development.

Federal-level innovation support programs remain underdeveloped relative to some other jurisdictions. Regulatory development has focused on bringing existing activity under oversight rather than proactively promoting the sector. CNV General Resolution 1069/2025, issued in June 2025, introduced Argentina’s first framework for the tokenization of real-world assets (specifically marketable securities via distributed ledger technology), signaling growing institutional engagement with blockchain infrastructure.

Crypto License in Argentina

Argentina does not issue a standalone crypto operating license. Instead, the CNV operates a mandatory VASP registry established under Law 27,739 and General Resolution 994/2024. Registration is a prerequisite for operating, but it confers oversight status only and does not constitute a license or endorsement by the CNV. VASPs are required to display a notice to this effect on their website and promotional materials.

Registration Requirements

General Resolution 994/2024, issued March 25, 2024, requires all VASPs engaging with Argentine residents to register before commencing operations. The obligation applies to foreign entities that use a .ar domain, operate ramp services receiving funds from Argentine residents, direct advertising or business focus toward the Argentine market, or derive more than 20% of total business volume from Argentina. Entities with monthly volume below 35,000 UVA (approximately USD 29,000-44,000) are exempt.

Registered VASPs must demonstrate minimum net worth of approximately USD 85,000 to USD 170,000 depending on their category, verified by an independent public accountant. There are five VASP categories defined by activity type: fiat-to-crypto exchange, crypto-to-crypto exchange, transfer services, custody, and financial services related to virtual asset offers. Each category carries its own net worth band and compliance obligations.

Governance requirements include appointing a compliance officer and a public relations manager, maintaining procedure manuals, information security policies, claims management procedures, and a code of conduct. VASPs must submit quarterly reports on clients, accounts, trading volume, asset types, and jurisdictions of operation, along with semi-annual net worth certifications and annual external audit reports. By early 2025, over 100 VASPs had completed registration (95 companies and 6 individuals).

AML and Consumer Protection (GR 1058/2025)

CNV General Resolution 1058/2025, issued March 14, 2025, consolidated and expanded the VASP framework. It introduced requirements for fund segregation, asset custody standards, cybersecurity protocols, enhanced AML/CFT reporting aligned with FATF standards, and rules on advertising and consumer-facing disclosures. The CNV is empowered to request judicial authorities to block websites operated by unregistered VASPs.

The $LIBRA scandal of February 2025, in which President Milei publicly promoted a token that collapsed within hours and caused an estimated USD 251 million in losses to retail traders, accelerated the regulatory response. GR 1058 was issued exactly one month later. Criminal fraud complaints were filed against Milei and associates; Argentina’s anti-corruption office separately cleared him of public ethics violations. The episode illustrates the gap between Argentina’s informal crypto culture and its nascent formal oversight framework.

UIF Registration and AML Obligations

In addition to CNV registration, VASPs are obligated subjects under AML Law 25,246 as amended by Law 27,739. This requires separate registration with the UIF and implementation of a full AML/CFT compliance program: customer due diligence, beneficial ownership verification, ongoing transaction monitoring, and timely reporting of suspicious activity. The FATF Travel Rule requirement to transmit originator and beneficiary data on virtual asset transfers applies to registered Argentine VASPs. Non-compliance triggers administrative sanctions ranging from warnings and fines to suspension and cancellation of registration.

Market Characteristics

Adoption Patterns

Argentina ranks second in Latin America for crypto transaction volume (USD 93.9 billion, July 2024 to June 2025, per Chainalysis) and 15th globally for active wallet users, with over 10 million people using digital assets. Stablecoins account for 61.8% of transaction volume, well above the global average of 44.7%, reflecting their primary function as inflation hedges and de facto dollar savings vehicles.

With annual inflation reaching 211.4% in 2023 (the highest in 32 years) before declining to approximately 47% by mid-2025, Argentines have turned to USDT and USDC as practical tools for preserving purchasing power. Stablecoin purchases represent more than half of all ARS-denominated exchange transactions. Over 100 businesses in Buenos Aires accept stablecoin payments through apps such as Binance Pay and Lemon Cash, and freelancers increasingly receive wages in dollar-pegged tokens. This grassroots digital dollarization has proceeded well ahead of any official policy on the matter.

Industry Structure

Local exchanges serving the peso-to-crypto market represent the most visible segment, alongside stablecoin infrastructure platforms, blockchain development services, payment processors integrating crypto for merchants, and a growing mining sector in provinces with favorable electricity rates. Argentine blockchain developers contribute to global projects and export software services internationally. The combination of high adoption, a sophisticated developer base, and a maturing regulatory framework positions Argentina as one of Latin America’s most significant crypto markets.

Regulatory Trajectory

The pace of regulatory development accelerated sharply in 2024 to 2025. Law 27,739, GR 994, GR 1058, the asset amnesty program, and the BCRA’s planned bank crypto framework represent a significant volume of change within roughly 18 months. The direction is toward formalization and FATF alignment rather than restriction or prohibition. Ongoing open questions include the final design of the bank crypto framework, the full implementation of FATF Travel Rule obligations, and how ARCA will treat crypto income from decentralized platforms and offshore holdings as enforcement tools improve.

Comision Nacional de Valores (CNV): https://www.argentina.gob.ar/cnv

Banco Central de la Republica Argentina (BCRA): https://www.bcra.gob.ar

Unidad de Informacion Financiera (UIF): https://www.argentina.gob.ar/uif

Agencia de Recaudacion y Control Aduanero (ARCA): https://www.afip.gob.ar