Regulation
Argentina’s financial regulator introduces mandatory registration for all cryptocurrency service providers


Last month Argentina’s financial regulator, Comisión Nacional de Valores, introduced mandatory registration for all cryptocurrency exchanges and brokers operating in Argentina. As crypto service providers begin to get to grips with this new crypto registration rule, this article outlines the critical changes, compliance expectations, and long-term implications in a direct, fluff-free analysis.
Why is Argentina mandating crypto service provider registration, and how will this rule reshape the industry?
Cryptocurrency and the casino landscape in Argentina: An evolving intersection
In Argentina, the way cryptocurrencies and casinos work together is slowly changing. There aren’t any rules specifically about using cryptocurrency for gambling. However, more people are using digital money, and it’s becoming part of Argentina’s economy and society. This shows the country is accepting crypto.
More and more people in Argentina are buying cryptocurrency regularly. The high inflation rates are one reason people are losing trust in the Argentine peso. Cryptocurrency is seen as an investment and way to store the value that’s more stable.
Argentines want options that aren’t as affected by the country’s economic ups and downs or government controls. Significantly, Argentina ranks 13th globally for crypto adoption in 2022. Many use stablecoins like Tether and USDC, showing their desire for financial stability through crypto.
Even though cryptocurrency is widespread, the laws about using it for gambling and casinos aren’t clear yet. Argentina hasn’t published guidelines for casinos accepting cryptocurrencies like Bitcoin, Ethereum, or Litecoin, but if it does decide to clamp down then users could be forced to shun crypto casinos in favor of online casinos that offer real money deposits and withdrawals.
Argentina showed interest in blockchain and cryptocurrencies in the past. In 2020, the Central Bank worked with a Bitcoin company on a blockchain payment network. The country made rules for taxing cryptocurrencies. It also allowed public transport payments in Bitcoin since 2019. These steps show Argentina is cautiously adopting digital currencies into its economy.
As Argentina deals with economic issues and explores cryptocurrencies, using them in gambling has chances and unknowns. The changing situation suggests a careful but open view on using cryptocurrencies’ potential to improve and stabilize Argentina’s economic activities like casinos and online gambling.
Argentina’s new crypto registration rule
In the wake of burgeoning global interest in digital currency, Argentina has instituted a compulsory registry for cryptocurrency exchanges and other virtual asset service providers encompassing an array of crypto-related activities.
The new regulation applies to various operations, including purchasing, selling, borrowing, and trading crypto assets. It thus embraces every facet, from active platform trading to quiet movements of digital currency between wallets.
By aligning itself with recommendations from the Financial Action Task Force (FATF), Argentina signals a significant step forward in overseeing the crypto industry and shaping its integration within national financial practices.
With time pressing down on them, participants currently embedded within Argentina’s cryptocurrency sector face a 45-day countdown to conform their operations to this new decree—a race toward adherence that may well set the stage for how cryptocurrency functions are performed across Argentine soil in future times.
Objectives of the registry
The heart of this mandatory registry beats with a clear mission: to fortify the bulwarks against the specters of money laundering and financial terrorism that haunt the realm of crypto transactions.
By wielding blockchain intelligence tools, the registry aims to illuminate the shadows where high-risk or terrorist-associated digital wallet addresses might lurk. Beyond the shield of security lies the promise of increased transparency and consumer protection, a beacon of trust that could beckon wider adoption of cryptocurrencies.
The absence of specific statutory or regulatory regimes is not seen as an obstacle but rather as a clarion call for crypto businesses to erect sophisticated compliance protocols proactively.
These measures are designed to maintain and heighten customer trust in an industry often seen as the wild frontier of finance.
Implications for crypto trading services
Virtual asset service providers based locally or abroad are being drawn into Argentina’s regulatory sphere. These entities must adhere to the newly imposed mandatory Registry of Virtual Asset Service Providers to engage in the bustling Argentine market.
This directive requires compliance from all international firms offering cryptocurrency services in Argentina.
Crypto companies are actively seeking ways through this complex environment by:
- Employing internal and external audits as navigational tools
- Striving to identify any issues with compliance
- Ensuring their programs meet necessary standards
- Demonstrating to regulators that their handling of cryptocurrency transactions is lawful.
The crypto industry’s reaction
The promulgation of the VASP registry has sent ripples through the Argentine crypto community, echoing concerns that the measure may serve the state bureaucracy and compliance industries more than the cryptocurrency sector itself.
The air was thick with the scent of disappointment among Bitcoin enthusiasts who had anticipated a regulatory environment reminiscent of El Salvador’s Bitcoin embrace.
Implementing stringent VASP regulations under President Javier Milei’s watch has left these supporters grappling with a reality far removed from their libertarian dreams. The industry was taken aback by the government’s sudden strict regulatory approach, which clashed with the new leader’s libertarian stance, raising eyebrows and questions alike.
However, not all view the regulations through a lens of skepticism. Industry figures such as Manuel Ferrari and Nicolas Bourbon consider the new rules as steps towards satisfying international standards, albeit without an immediate impact on users.
Concerns over Bitcoin’s classification
In Argentina, the status of Bitcoin is mired in a web of contradiction and ambiguity, presenting a complex challenge that remains unresolved. The absence of a consistent framework for classification leads to ongoing uncertainty regarding the cryptocurrency’s legal position.
Contrastingly, El Salvador has embraced Bitcoin by conferring it with legal tender status. Argentina has decidedly resisted adopting crypto assets. This deviation from accepting Bitcoin and incorporating crypto-friendly measures into policy has dampened spirits among Argentine proponents of Bitcoin, who are now faced with reconciling this reality with their earlier hopes.
Criticisms from industry leaders
Industry experts have raised their objections, with individuals like Manuel Ferrari sharply criticizing the newly mandated registration policy for cryptocurrency exchange platforms like Bitcoin.
Describing it as a ‘terrible idea’, Ferrari argues that Bitcoin ought to be regarded as money rather than a security, emphasizing that imposing comparable regulatory demands on currency exchange houses is nonsensical and misguided. The predicament could have been avoided if these exchange entities were treated distinctively.
There’s a noticeable sense of frustration given Argentina’s hesitation to emulate El Salvador’s endorsement of Bitcoin, especially considering the increasing significance of cryptocurrency within the regional market.
Regulation
John Deaton Lays Out 5 To-Do List

John Deaton, a prominent crypto lawyer, has outlined a five-point plan for regulation by lawmakers in the United States. In his latest post on X, he calls for urgent action to establish clear rules that will support innovation, protect users, and bring stability to the crypto sector.
John Deaton on the Five Crypto Regulation Priorities
Deaton’s first recommendation is to pass a law on stablecoins. He believes this can increase demand for U.S. Treasuries and reduce the cost and delay in sending money across borders. This, he noted, will help the United States play a stronger role in global trade.
John Deaton wants the US. Congress should clearly define which tokens are securities and which are commodities. This will help decide whether the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC) should regulate them. Without such clarity, regulators may continue to clash over control, and projects may face confusion.
He also raised the need for crypto exchange regulation. Deaton wants strict rules to ensure customer funds are not mixed with company funds. He suggests that exchanges hold full reserves visible on the blockchain. This way, they can avoid high-risk activities like offering large amounts for lending or using customer funds elsewhere.
In addition, Deaton suggests easing the tax burden. He proposes removing the capital gains tax on small crypto payments and allowing people to pay federal taxes in cryptocurrency without facing more taxes.
Lastly, he urges Congress to revise or remove the Accredited Investor Rule. John Deaton believes the rule locks out too many people from early investment opportunities. He warns that lawmakers must act before the 2026 midterm elections to avoid delays caused by political changes.
Stablecoin Laws May Arrive Very Soon
It is important to add that Deaton’s views support ongoing developments in Congress. A bill known as the GENIUS Act is already being discussed.
It suggests that the Federal Reserve would manage large banks issuing stablecoins, while state bodies would handle smaller groups.
According to recent reports, the global market for stablecoins now exceeds $234 billion, raising hopes that new U.S. laws will soon follow.
As mentioned earlier by President Donald Trump, lawmakers are likely to fasttrack the stablecoin regulation. The current timeline is slated for Q2 this year.
SEC’s Shifting Position on Oversight
The SEC, which once took a hard line on crypto regulation, is now adjusting its stance
CoinGape noted earlier that the era of counterproductive oversight may be ending, as U.S. SEC and CFTC leaders have agreed to work together moving forward.
Historically, the SEC treated most tokens as securities, focusing on enforcement, while the CFTC took a softer approach to the markets. Recent laws like FIT21 aim to give the CFTC more control over decentralized assets.
With both regulatory oversight looking to create more cohesive plans to work, and the new leadership of Paul Atkins, the industry hopes to overcome challenges, reduce uncertainty, and foster greater clarity in crypto regulation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
US SEC and Binance Agree To Pause Legal Proceedings for 60 More Days

The U.S. Securities and Exchange Commission (SEC) and Binance have requested a federal judge to extend the pause in their ongoing legal case for another 60 days.
This decision follows what both parties described as “productive discussions” and will provide more time for further deliberations.
US SEC and Binance Agree To Pause Legal Proceedings
The SEC initially sued Binance in 2023, accusing the exchange and its executives, including former CEO Changpeng Zhao, of violating federal securities laws, who is now the Strategic Advisor to Pakistan’s Crypto Council. The charges centred on Binance’s operation as an unlicensed clearing agency, broker, and exchange.
Additional allegations included the commingling of funds and manipulation of trading volume on Binance.US, its U.S. affiliate. These serious claims led to the ongoing litigation, which was paused multiple times to allow the parties to negotiate and clarify their positions.
Earlier this year, the SEC requested a 60-day pause in the case to allow for discussions around a new crypto task force to clarify how securities law might apply to digital assets. That pause was set to expire on April 14, 2025, but the SEC and Binance have now mutually agreed to extend it for an additional two months.
Reasons for the Continued Binance SEC Pause
The SEC, in its filing, explained that the discussions between both parties had focused on how the work of the newly formed crypto task force could impact the case. The task force, created to address regulatory issues in the cryptocurrency sector, may provide clearer guidance on how U.S. securities law applies to digital assets.
The SEC also pointed out that additional time was needed for authorization from the Commission before making any decisions or revisions in the scope of the case. Binance, for its part, agreed that an extension of the pause was in everyone’s best interest and would help to facilitate the ongoing discussions between the two sides.
“The continued pause is appropriate and in the interest of judicial economy,” the filing stated. Both the SEC and Binance have indicated that they aim to resolve the matter efficiently, without unnecessary delays or complications.
Crypto Task Force’s Role in the Case
The SEC’s newly established crypto task force may shape how digital asset transactions are treated under U.S. law. In a recent statement, Acting SEC Chair Mark Uyeda emphasized the importance of clear regulations for the cryptocurrency market and noted that the task force’s role is to create long-term solutions for regulating crypto trading.
Uyeda also suggested that a “time-limited, conditional exemptive relief framework” might be appropriate to allow innovation in blockchain technology while maintaining regulatory oversight. He encouraged market participants to contribute their views on where such exemptions might be necessary to foster industry growth.
The crypto task force’s efforts may influence how the SEC handles its case against Binance and its broader approach to regulating the digital asset space. The task force aims to ensure that U.S. law can adapt to the rapidly evolving technology behind cryptocurrencies while also protecting investors and ensuring market integrity.
Next Steps in the Legal Proceedings
With the case now paused for another 60 days, the SEC and Binance will continue their discussions and await further guidance from the crypto task force. The next update on the case’s status will come after the 60-day period.
As the pause continues, like the Ripple vs SEC case, stakeholders in the cryptocurrency industry will closely monitor the outcome of the discussions, as the case could set important precedents for future regulatory actions.
The SEC, as a result, has clarified that it is focused on ensuring compliance with securities laws, while Binance has stated its commitment to working within the framework of U.S. regulations.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
US Senators Reintroduce PROOF Act To Set Reserve Standards for Crypto Firms

As crypto regulation gains ground in the US under pro-crypto President Donald Trump, US Senators are taking further steps to strengthen oversight of digital asset firms. Senators Thom Tillis and John Hickenlooper reintroduced the Proving Reserves of Other Funds (PROOF) Act, which aims to create new standards for transparency and fund management in the cryptocurrency sector.
US Senators Reintroduce PROOF Act Bill
According to Eleanor Terrett, US Senators Tillis and Hickenlooper have renewed their push for the PROOF Act, which was first introduced in 2023. The bill responds to concerns raised by the collapse of FTX, where customer funds were reportedly mixed with the company’s own capital and redirected to affiliated firms.
The PROOF Act would prohibit the co-mingling of customer assets by digital asset custodians and exchanges. It sets requirements for monthly third-party reserve checks, which would ensure that firms hold enough reserves to back customer holdings.
Independent auditing firms would perform these checks, sending the results to the U.S. Department of the Treasury.
Mandatory Proof of Reserves Checks
Under the US Senator’s proposed law, all firms offering digital asset custody or exchange services must undergo monthly Proof of Reserves (PoR) inspections. These checks would verify that firms hold the assets they claim to possess on behalf of their clients.
PoR uses cryptographic tools like Merkle trees and zero-knowledge proofs to verify balances without revealing user data. To ensure transparency, the inspection reports would be made public through the Treasury Department. If a company fails to comply, it will face civil fines that increase with repeated violations.
Although some firms have previously voluntarily shared proof of reserves information, these practices have been inconsistent and often lacked third-party verification. The PROOF Act would create a standardized process across the industry.
Preventing Fund Mismanagement in the Crypto Industry Through The PROOF Act
The US Senators’ renewed effort to pass the PROOF Act follows the financial failure of several crypto companies, most notably FTX. Reports showed that FTX moved customer deposits to its sister firm, Alameda Research, without proper disclosure or reserves, contributing to a major loss of trust in the sector.
Lawmakers aim to reduce the risk of mismanaged or missing funds by introducing strict reserve reporting requirements. The bill, as a result, intends to give customers more confidence that their digital assets are safe and properly accounted for by crypto firms.
The legislation also encourages more responsible behaviour from digital asset institutions by requiring them to follow clearly defined standards. These standards subsequently support regulatory oversight and prevent future financial harm to customers.
SEC Leadership and Regulatory Developments
The reintroduction of the PROOF Act follows Paul Atkins’s appointment as the new Chair of the Securities and Exchange Commission (SEC) in the United States. The Senate endorsed Atkins with a 52 to 44 majority in acknowledging his position on precise crypto regulations.
As a result, the Division of Corporation Finance of the SEC published guidance for crypto issuers as a follow-up to Atkins’ confirmation. The guidance also involves disclosure concerning business models and financial statements and risks associated with digital assets that fall under the definition of securities.
Subsequently, Senator Cynthia Lummis, a pro-Bitcoin legislator, has corroborated the development while acknowledging optimism about the future under Atkins. She stated that from her conversation with Atkins, she became confident in his handling of digital asset regulation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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