Argentina is getting ready to update its law against funding terrorism and money laundering.
It has suggested that as part of the forthcoming changes, a registration for virtual asset service providers (VASPs) in the nation should be established.
The adjustments would have the nation ready for the evaluation the Financial Action Task Force (FATF) is going to conduct on the matter the following year.
The creation of a single VASP registry may be discussed as part of Argentina’s proposed anti-money laundering and counterterrorism financing law revision.
The proposal, which is being made by a number of organizations in the nation, including the national securities regulator (CNV) and the Argentine tax authority (AFIP), would update the law to meet contemporary requirements.
The proponents of these revisions claim that they were influenced by changes of a similar nature made in other nations that have been examined by the FATF and that they are necessary preliminary steps before beginning to develop cryptocurrency-specific regulations in Argentina.
Sebastian Negri, the country’s UIF’s head of anti-money laundering, went into more detail about why these changes must be accepted and put into effect.