PSAV Registration and Virtual Assets in Argentina

Argentina is one of the most important crypto markets in Latin America, and since Law No. 27,739 it has a defined perimeter for virtual asset businesses: the CNV's registry of Virtual Asset Service Providers (PSAV), alongside UIF anti-money laundering obligations.

Jarsun, Ferreira & Calvo advises exchanges, custodians, brokers, tokenization projects and foreign crypto businesses on PSAV registration, CNV and UIF compliance, and the structuring questions that go beyond the registry.

Who This Service Is For

1. a.crypto exchanges and trading platforms;
2. b.custody, wallet and safekeeping providers;
3. c.brokers, OTC desks and crypto-payment businesses;
4. d.stablecoin and tokenization projects; and
5. e.foreign VASPs serving Argentine users or planning a local operation.

The PSAV Perimeter

If you are new to the topic, our note What is a PSAV and how to register with the CNV explains the figure from scratch. The PSAV framework rests on Law No. 27,739, which amended Law No. 25,246 and brought virtual-asset services into the regulated perimeter, with the CNV running the registry. Registration analysis typically turns on whether the business offers:

1. a.exchange between virtual assets and fiat currency;
2. b.exchange between one or more forms of virtual assets;
3. c.transfer of virtual assets;
4. d.custody, administration or safekeeping of virtual assets; or
5. e.participation in financial services related to the offer or sale of virtual assets.

Products that combine crypto with yield, investment features or tokenized instruments can raise questions well beyond PSAV registration, reaching into securities, public offering and collective investment analysis. We run that securities review alongside the registry work.

Foreign VASPs Serving Argentine Users

The framework also addresses how foreign businesses can operate: PSAV activity can run through an Argentine company owned directly or through the group, registered under Article 123 of the General Companies Law, or through a branch or permanent representation under Article 118. Which route fits depends on the product, the group structure and the banking plan. We structure this together with our Company Formation in Argentina service.

UIF / AML Obligations

PSAVs are expressly regulated subjects under Argentina's AML framework. That means UIF registration, a compliance officer, AML/KYC policies and manuals, customer due diligence and beneficial ownership verification, sanctions and PEP screening, transaction monitoring, suspicious activity reporting and recordkeeping. Banks and partners will test the program during onboarding, usually before any regulator does.

Tokenization and Digital Assets

Tokenization is one of the most active corners of Argentine fintech. The CNV built a specific framework through General Resolution No. 1069/2025, widened it with General Resolution No. 1081/2025 (which covered instruments such as shares, corporate bonds, CEDEARs and mutual fund units, and extended the sandbox to August 21, 2026) and staged it further with General Resolution No. 1087/2025. The digital representations are meant to trade through platforms run by CNV-registered PSAVs, so tokenization ties directly back into the registry.

The sandbox is temporary and still moving. Its scope and conditions should be confirmed before a launch leans on them. For background, see our analysis of tokenization and digital assets in Argentina.

How Jarsun, Ferreira & Calvo Helps

A typical PSAV engagement includes the perimeter and securities memo, the CNV registration filing, the UIF/AML program build, the operating structure for foreign groups (an Article 123 subsidiary or an Article 118 branch), product terms and disclosures, and the bank and partner onboarding file. Where crypto is one piece of a broader launch, our Fintech Market Entry in Argentina service coordinates the full program; the Fintech Regulation in Argentina guide maps the framework in depth.

Frequently Asked Questions

Who must register as a PSAV in Argentina?

Businesses providing virtual-asset services within the perimeter of Law No. 27,739: exchange between virtual assets and fiat, exchange between virtual assets, transfers, custody or administration, and participation in financial services related to the offer or sale of virtual assets. The registry is run by the CNV.

Can a foreign crypto business serve Argentine users?

The framework contemplates foreign operators running PSAV activity through an Argentine company registered under Article 123 of the General Companies Law, or through a branch or permanent representation under Article 118. Cross-border models targeting Argentine users need case-by-case perimeter analysis.

Are PSAVs subject to AML obligations?

Yes. PSAVs are expressly regulated subjects under the AML framework: UIF registration, compliance officer, KYC and beneficial ownership verification, monitoring, suspicious activity reporting and recordkeeping.

How is tokenization regulated in Argentina?

Through a CNV sandbox regime built by General Resolutions No. 1069/2025, 1081/2025 and 1087/2025, currently extended to August 21, 2026, under which tokenized securities trade via CNV-registered PSAVs. The regime is staged and evolving, so its scope should be confirmed before structuring a project around it.