Fintech Regulation Guide

Does your jurisdiction regulate Fintech services under the traditional Financial Services laws or does it have any ad hoc regulatory frameworks for fintech services? (Financial Services Laws/Ad Hoc Framework/Hybrid)

There is not any formal comprehensive law for fintech companies. The Central Bank of Argentina (BCRA) is empowered to regulate all payment systems, clearing and settlement houses, money remittance entities and cash-in-transit companies, and to carry out any other action related to the financial and foreign exchange sectors. The BCRA also regulates some fintech verticals, such as Payment Service Providers (PSPs), Non-Financial Credit Providers (NFCPs) and Peer-to-Peer Credit Service Providers through Platforms (PPCSPs). Law 27,349 and Resolutions 717/17 and 942/22 of the National Securities Commission (CNV), the local SEC, regulate crowdfunding platforms. Likewise, CNV Resolution 1058/2025 regulates Virtual Asset Service Providers (VASPs), and CNV Resolutions 1069/2025 and 1081/2025 created a tokenization regime. Decree No. 353/2025 created an Open Finance System (pending regulation by the BCRA). Law 25,246 (AML) establishes that PSPs, NFCPs, crowdfunding platforms, VASPs, among others, are obliged subjects before the Financial Information Unit (UIF). 

Make a list of fintech services that may obtain a licence in your jurisdiction

Fintech companies do not require any license to operate, unless they perform financial intermediation, operate in foreign exchange or fall under Law 27,349 (crowdfunding platforms). However, they must register with the BCRA if they carry out any of the following activities: 1) PSPs that perform the functions of “account provision”, “QR administration” (manage payments for QR travel schemes), “acceptance”, “initiation” (only if they provide digital wallet service), “ATM networks”, “electronic funds transfer networks (processing or operation)”, “acquiring entity”, “aggregation or sub-acquiring entity”, “non-banking collection of taxes and/or services”; 2) NFCPs; and 3) PPCSPs. Likewise, VASPs must register in the Registry of VASPs of the CNV. PSPs, NFCPs, crowdfunding platforms, VASPs, among others, are obliged subjects before the UIF.

What is(are) the name(s) of the regulatory authority(ies) responsible to grant licences and regulate fintech service providers? If there is more than one, please list which fintech services are regulated by which authority.

The BCRA regulates digital financial institutions (mainly, digital banks), PSPs, NFCPs and PPCSPs. The CNV regulates crowdfunding platforms under Law 27,349 (crowdfunding platforms) and VASPs. The UIF is the enforcement authority of the law to prevent money laundering, terrorism financing, and financing the proliferation of weapons of mass destruction and complex economic-financial crimes. PSPs, NFCPs, crowdfunding platforms, VASPs, among others, are obliged subjects before the UIF.

Are there any specific restrictions on the types of fintech services that can be offered in and/or from your jurisdiction?

Fintech companies must not do financial intermediation; otherwise, they shall apply for a banking license before the BCRA. Financial entities and PSPs that offer payment accounts may not operate or facilitate their clients to operate with digital assets (including crypto-assets and assets which yields are determined by the variations of crypto-assets) unless authorized by BCRA, or the corresponding regulator. ICO may require prior registration and approval by CNV if they qualify as a public offering of a security.

Is reverse solicitation allowed in your jurisdiction, for fintech firms licensed in other reputable jurisdictions? (Meaning that a third-country fintech firm can offer services to clients in your jurisdiction providing its at the exclusive initiative of the client).

Reverse solicitation is not regulated in Argentina. Pursuant to CNV Resolution 1058/2025, a foreign legal entity shall be deemed to carry out PSAV activities in Argentina—and therefore be required to register in the PSAV Registry prior to the commencement of any operation or transaction in the country—if any of the following conditions apply: the use of a “.ar” domain; the existence of agreements with third parties, affiliates, or subsidiaries allowing the local receipt of funds from Argentine residents (including ramp services); a clear targeting of Argentine residents; advertising specifically directed at Argentine residents (excluding cases of reverse solicitation); or when its business volume in Argentina exceeds 20% of its total business volume, considering only the activities that trigger the registration requirement.

Are there any specific requirements for companies providing fintech services in your jurisdiction?

There are specific requirements for registered fintech companies including “Know your customer” (KYC), AML prevention, data privacy, fair trade and consumer protection, and several administrative reporting regimes stated in CBA’s regulations, as mentioned above. Some of these requirements may also apply to non-fintech companies.

Are there any specific consumer protection measures that apply to fintech services in your jurisdiction?

There is an obligation to disclose transparent and accurate information with easily understandable information on rights, restrictions and fees, along with fair contractual terms and a complaints’ handling procedure. Advertising guidelines include provision of balanced information and usage of plain language. Additionally, firms must disclose key information, such as interest rates, charges, fees and risks involved, to enable consumers to take informed decisions. This information must be in a visible place and in highlighted bold letters in a larger size.

Are there any other legal issues that companies should be aware of when providing fintech services in your jurisdiction?

Yes, there are, such as companies should be aware of laws and regulations regarding interest rates and courts’ empowerment to reduce them, consumer protection rights, fair trade, unfair business practices, digital and electronic signature, foreign exchange controls, tax and AML, as well as civil and commercial procedural rules and case law for the enforcement and foreclosure of electronic contracts and digital negotiable instruments, and forensic evidence recollection.

Are virtual assets (such as cryptocurrencies and) permitted in your jurisdiction? (Yes/No)

Yes, they are.

If the answer is Yes, is there any licensing /authorization/notification process that needs to be followed for a person to issue a new virtual asset? (Yes/No)

Yes, there is.

If the answer is Yes, please provide a summary of the process that needs to be followed by a person to issue a new virtual asset).

VASPs must register in the Registry of Virtual Asset Service Providers of the CNV. If the crypto asset qualifies in any way as a security (e.g. a token), the issuer should register before the CNV and request the authorization to make a public offer of the security.

Are Virtual Asset service providers regulated in your jurisdiction? (Yes/No)

Yes, they are.

If the answer to your previous question is Yes, please provide a summary of the framework that regulates such service providers explaining which licence(s) need to be obtained from which authority(ies).

VASPs do not require a license. But they need to register in the Registry of Virtual Asset Service Providers of the CNV before they can start to operate. With Resolution 1058/2025, the CNV established a regulatory framework that governs, among other things, minimum capital requirements, information security policies, prudential requirements for the custody of virtual assets, account segregation, annual audits, the obligation to report agreements entered into with third parties, aspects related to customer identification, and compliance with AML/CFT regulations. In addition, a reporting regime has been implemented while VASPs remain on the Registry.

Are you as a firm providing services and advice relating to Virtual Assets? (Yes/No)

Yes

Please feel free to add any pertinent comments in addition to your answers.

Rule 4614/19 (federal tax agency): those who manage, control or process asset movements in electronic or digital management platforms, on behalf of human and legal persons, including PSPs that offer payment accounts, must report thereto the list of clients and the balance of their accounts.

Crypto-assets are taxed as follows: income generated and obtained out of transactions made with own or third-party cryptocurrencies (Income Tax); holding of crypto-assets (personal property tax).

Through General Resolutions 1069/2025 and 1081/2025, the CNV approved a tokenization regime. Under this framework, the following assets may be tokenized: shares (including dual-listed shares), corporate bonds, Argentine depositary receipts (CEDEARs), debt securities or certificates of financial trusts (backed by real-world assets or other eligible assets, including, without limitation, securities issued by private entities with or without public offering, as well as public entities), and units of closed-end mutual funds (subject to the same criteria). VASPs play a central role in this regime, being responsible for the digital issuance, trading, settlement, and custody of the securities through their platforms and mobile applications.

Decree No. 353/2025 created the Open Finance System. The BCRA is currently preparing its regulatory implementation, drawing on precedents from Brazil, Mexico, and Colombia. According to press reports, the initiative is intended to grant users ownership of their financial data and the ability to voluntarily share it with banks, fintech companies, and other regulated entities. The primary goal is to promote financial inclusion by allowing individuals without a formal credit history or declared income to obtain improved access to loans, insurance, or investments through the creation of more complete financial profiles. The system will be governed by principles of transparency, explicit consent, and institutional reciprocity with mandatory participation for major banks and large fintech companies. The BCRA will serve as the enforcement authority, with the CNV, the Superintendence of Insurance, National Social Security Administration (ANSES), and the Agency for Access to Public Information also participating in supervisory roles.