The National Securities Commission (CNV) approved General Resolution No. 1058, which establishes a regulatory framework for virtual asset service providers (VASPs).
Its objective is to "guarantee transparency, stability, and user protection in the crypto ecosystem, imposing obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure."
The regulation defines the principles and parameters that will govern VASPs, including "general rules of conduct and specific conditions for the performance of their functions." It also establishes the initial framework for the application of "information security policies, prudential requirements for the custody of virtual assets, account segregation, as well as the obligation to report on agreements entered into with third parties and other aspects related to client referrals."
The regulations also include a reporting regime that will apply to VASPs registered in the VASPs Registry enabled by the CNV, as well as the asset requirements they must meet.