On Sep. 1, 2025, ARG CNV established clarifications regarding the corporate purpose required of Virtual Asset Service Providers (VASPs), through Interpretive Criterion 97.
Specified requirements that must be met by bylaws of companies requesting VASPs registration, also covering companies registered under General Resolution 994.
Companies must submit current bylaws, which include activity re provision of services.
For companies incorporated in the country, the corporate purpose must expressly provide for the company's activity as a Virtual Asset Service Provider (VASP).
Generic, ambiguous formulations that could be interpreted as implicit not permitted.
Furthermore, for companies incorporated abroad, the corporate purpose of the parent company may expressly or implicitly include activities of VASP, consistent with rules.
For the current bylaws, the ordered text thereof must be published in the Financial Information Highway (AIF), duly registered in the Public Commercial Registry.
On Jul. 15, ARG CNV specified conditions for asset requirement.
ARG CNV approved Interpretive Criterion 96 to establish conditions under which virtual asset service providers (VASP) must show compliance with the Minimum Net Worth.
Requirements
During registration and stay in VASP Registry, share capital must be fully paid up.
Furthemore, the share capital must be registered in the Public Commercial Registry.
If there are irrevocable contributions, they must be capitalized prior to the application.
VASP registered, under General Resolution 994, must prove irrevocable contributions have been capitalized and resulting capital increase has been registered, see #230264.
The irrevocable contributions received by the company during its stay in the VASP Registry must be capitalized within a maximum period of 6 months as of acceptance.
Deadline
Additional deadline granted until Nov. 30, 2025, for VASP registered under Res. 994 to demonstrate compliance with the Minimum Net Worth under terms in Communication.
Remaining data and documentation must be submitted by Aug. 1, or Sep. 1, 2025.
Sep. 2025 ARG CNV Clarification
On Sep. 1, 2025, ARG CNV established clarifications regarding the corporate purpose required of Virtual Asset Service Providers (VASPs), through Interpretive Criterion 97.
Specified requirements that must be met by bylaws of companies requesting VASPs registration, also covering companies registered under General Resolution 994.
Companies must submit current bylaws, which include activity re provision of services.
For companies incorporated in the country, the corporate purpose must expressly provide for the company's activity as a Virtual Asset Service Provider (VASP).
Generic, ambiguous formulations that could be interpreted as implicit not permitted.
Furthermore, for companies incorporated abroad, the corporate purpose of the parent company may expressly or implicitly include activities of VASP, consistent with rules.
For the current bylaws, the ordered text thereof must be published in the Financial Information Highway (AIF), duly registered in the Public Commercial Registry.
