Argentina creates hub to develop regulatory framework for cryptocurrency acceptance

Argentina is moving toward regulating cryptocurrency as well as furthering the adoption of digital assets — now with a new «innovation center» that will allow regulators, investors, and crypto startups to work together.

According to a dedicated government website, the regulatory National Securities Commission (known as CNV) has created a new «hub» that is supposed to create a bridge between private organizations and regulators to «find answers to legal and regulatory questions.»

The website invites companies and projects operating in the fintech and crypto sectors to apply. The only condition is that they operate under the supervision of the CNV and in a «regulated environment.» Selected companies will be able to participate in seminars and «support sessions» with the regulator. Accordingly, they will be able to influence the emerging regulatory framework.

The tasks of the newly created hub are as follows in order of priority: political and regulatory frameworks, fight against fraud in the crypto environment, development of local crypto initiatives.

All of these initiatives are taking place against the backdrop of a decline in the stability of the local peso, which has fallen by more than 20% against the dollar over the past year.