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In recent years, Argentina has emerged as one of the most attractive jurisdictions for crypto businesses, offering a streamlined process for registering and operating within the crypto industry. As the country continues to foster a thriving ecosystem for blockchain and crypto innovations, obtaining a crypto license in Argentina presents a valuable opportunity for global crypto entrepreneurs. In this article, I will guide you through the benefits, requirements, and processes involved in obtaining a crypto license in Argentina. Drawing from my extensive experience in the field, I will also provide insights into the regulatory landscape, taxation, and operational considerations, ensuring your crypto business stays compliant and successful.
Argentina has become a prestigious and fast jurisdiction for obtaining crypto registration, particularly appealing to startups. The country’s lenient regulations and low operational costs make it a highly competitive option for crypto businesses compared to other jurisdictions. In my experience, Argentina’s regulatory authorities offer a quick turnaround time for registration, usually taking about 3 months, which is relatively fast compared to other countries in the region.
Additionally, most cryptocurrencies in Argentina are not classified as securities, which significantly reduces regulatory hurdles and risks associated with their circulation. The local environment also nurtures a vibrant crypto community, offering ample collaboration opportunities with other firms in the sector. Therefore, Argentina has become the home to numerous successful crypto projects, including major players like Binance and Bit2Me, which have thrived under its jurisdiction.
The registration process in Argentina is transparent and efficient. Crypto companies can easily open accounts with local banks and integrate with payment systems. Furthermore, the local regulator ensures that your operations are legal, creating trust among your business partners and investors across Latin America.
Argentina offers a favorable tax environment for crypto businesses. Corporate income tax is structured into three brackets:
The VAT is set at 21%, and a 7% tax may apply to dividends, depending on bilateral tax treaties. The personal income tax ranges from 5% to 35%.
In my practice, Argentina stands out due to its quick registration process. From the initial submission of documents to the final approval of your crypto license, the entire procedure generally takes around three months, allowing businesses to start operations swiftly.
To register as a Virtual Asset Service Provider (VASP) in Argentina, businesses must meet the following criteria:
Any individual or legal entity without criminal records and not listed on sanctions lists can serve as the founder. The structure must include at least one director (who can also be a shareholder), and there is no requirement for a local director. Additionally, a local Compliance Officer must be appointed to oversee Anti-Money Laundering (AML) matters.
The minimum net worth depends on the type of crypto services provided. For exchanges between virtual assets and fiat currencies (Category 1), as well as for exchanges between one or more types of virtual assets (Category 2), and for custody or administration of virtual assets (Category 4), the required minimum net worth is USD 150,000.
For businesses engaged in the transfer of virtual assets (Category 3), the threshold is lower — USD 75,000.
Finally, for companies participating in or providing financial services related to the sale or offer of virtual assets (Category 5), the minimum net worth is USD 35,000.
A virtual office in Argentina suffices for crypto companies, which further reduces operational overheads.
A comprehensive AML policy must be established, along with mandatory reporting of suspicious transactions.
The process of obtaining a crypto license in Argentina can be broken down into the following stages:
The process starts with gathering all necessary documents, including identification proofs, utility bills, and business model outlines. Founders must also submit power of attorney forms and representation statements.
The next step involves incorporating the company and registering it with the relevant authorities. This step typically takes one month.
The application for crypto registration is then submitted to the National Securities Commission (CNV) for review. This process usually takes another month.
After receiving the crypto registration, you can proceed to open a corporate account with a financial institution to facilitate transactions and liquidity.
In terms of fees, the total cost for registering a crypto business in Argentina generally amounts to approximately EUR 29,230, which includes company incorporation, crypto registration, and other necessary services.
Service Breakdown
Additional services like opening crypto wallets and drafting necessary AML/KYC policies are also available at competitive rates.
As an experienced professional in the field, I believe that Argentina is an excellent jurisdiction for anyone looking to enter the crypto market. With its fast, cost-effective registration process, low operational costs, and favorable tax environment, Argentina offers a unique opportunity for crypto businesses to thrive. If you’re looking to start or expand your crypto business in Latin America, obtaining a crypto license in Argentina is a strategic choice. Reach out to SBSB Fintech Lawyers for expert advice and seamless guidance through the registration process.
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