Key facts:
Binance’s registration was made to make the platform suitable for cryptocurrency laundering
According to new regulations, exchanges must register with the CNV.
BinanceBinance, the world’s largest cryptocurrency exchange, has registered its international company in Argentina. The registration, effective and visible in the public registry of Virtual Asset Service Providers (PSAV) on the website of the National Securities Commission (CNV), allows Binance to participate in the cryptocurrency laundering program.
This move ensures that Binance operate legally in Argentina, making it easier for its users to regularize their digital assets. The company has chosen to register as a foreign entity, a strategy that avoids the obligation to declare cryptocurrency holdings to the AFIP, although it must report transactions in pesos.
“As reported by the CNV, Binance has become an authorized PSAV in Argentina. In this sense, it is eligible for users to join the official money laundering program,” said Binance told local media: “We support regulation and believe it is key to ensuring the industry continues to evolve and adoption is done safely,” the exchange added.
Cryptocurrency laundering in Argentina is part of a broader asset regularization program, which includes not only cryptocurrencies but also other undeclared assets. This process is crucial for the Argentine government, as it seeks to capture unregistered capital, increase the tax base and combat money laundering.
Local exchanges have already facilitated this process for their users, as CriptoNoticias reported, showing a trend towards the regularization of digital assets in the country. The participation of Binance In this scheme, it not only legalizes its operations, but also strengthens confidence in the Argentine cryptocurrency market, aligning with local regulations for sustainable and safe growth.
With the registration of BinanceArgentine users now have Another official way to launder your cryptocurrencieswhich may encourage more people to formalize their holdings. This step also reflects the growing maturity of the cryptocurrency market in Argentina, where regulation is seen as a necessary step for the legitimacy and expansion of the sector.
This article was created using artificial intelligence and edited by a human on the editorial staff.
