Argentina put a name on the door for crypto service providers: PSAV, the register for virtual asset services. If you run an exchange, a custodian, an OTC desk, or a platform touching Argentine users, this is the framework you now have to care about. The question is simple: do you need to be on that register before you operate, and what changes in your day-to-day if you are?
There’s also a curveball for token listings. New coins under 90 days old need special treatment on platforms. And yes, there’s an exemption threshold for small natural-person activity measured in UVA. Let’s unpack what’s firm, what’s still evolving, and how to avoid getting tripped up on rollout.
| Aspect | What to Know |
|---|---|
| Obligation to register | Entities must be registered as PSAV before operating in scope, per RG 1058/2025 republished July 28, 2026 (Boletín Oficial). |
| Exemption threshold | Natural persons are exempt if their aggregated monthly activity is at or below 35,000 UVA (UVA 35.000). Corporate entities should not expect this carve-out (Boletín Oficial). |
| New-asset rule | Assets under 90 days since launch must appear in a distinct section with a clear warning. Platforms need UI and workflow changes (Boletín Oficial). |
| Registry status | As of mid-August 2026, the public register displays zero legal entities and zero natural persons listed (CNV — Registro PSAV). |
| Regulatory cadence | CNV continues to update market rules in July 2026, signaling active oversight while the PSAV regime advances (CNV — Marco Regulatorio). |
| Who’s in scope | Expect exchanges, custodians, brokers/OTC, and platforms facilitating crypto services for Argentine users to be captured. Details hinge on activity, not labels. |
| Key risks | Misapplying the UVA exemption, failing the 90-day warning, poor asset custody segregation, and not monitoring CNV updates. |
Core Concepts
The PSAV register is the Commission’s formal roster for firms that provide virtual asset services in Argentina. Registration is a gate. If your activity falls under the regime, you’re expected to be on the list before you operate. That principle is spelled out in RG 1058/2025, which the Boletín Oficial republished and clarified on July 28, 2026, reiterating pre-registration for in-scope entities and a limited exemption for natural persons under the 35,000 UVA monthly activity threshold (Boletín Oficial).
There’s a specific listing rule, too: assets less than 90 days from launch need to be shown separately with a clear warning, so users aren’t mixing them with established markets. This forces platforms to tag asset ages accurately and build warning banners and segregated sections (Boletín Oficial).
For context, the regulator has been busy. CNV’s regulatory index shows multiple fresh resolutions during July 2026, a sign that market supervision is very much active while the PSAV regime rolls out (CNV — Marco Regulatorio). And yet, the PSAV page shows zero entries so far. That combination tells you two things: the framework is real, and the onboarding window is still opening (CNV — Registro PSAV).
Key terms, without the fluff
- PSAV: The official register for virtual asset service providers active in Argentina.
- CNV: The Comisión Nacional de Valores, Argentina’s securities regulator, running the PSAV regime.
- UVA: A local inflation-linked unit used in rules and thresholds. The exemption cites 35,000 UVA per month for natural persons.
- 90-day new-asset warning: Platforms must place brand-new assets in a separate section with a clear risk notice.
- In-scope activity: It’s about what you do. Exchange, custody, brokerage, or facilitating crypto deals for Argentine users can trigger PSAV.
Step-by-Step Playbook
- Map your services to in-scope activities. List every product that touches Argentine users: spot, OTC, staking-like features, hosted wallets, token listings, and transfers.
- Decide the legal entity that will register. If you use a local subsidiary, confirm corporate documents, directors, and address. Cross-border branches should document presence and accountability in Argentina.
- Stand up AML, KYC, and sanctions controls. Have policies, screening vendors, and PEP/beneficial ownership checks ready to show. Document your risk assessment.
- Segment custody properly. Keep client assets off balance sheet, with clear reconciliation, cold/warm policies, and incident response. Prove segregation with procedures.
- Build the 90-day asset workflow. Track token launch dates, tag assets under 90 days, display them in a distinct section, and add a visible warning before order placement.
- Draft disclosures and terms. Update T&Cs, risk notices, and product pages to reflect PSAV status, listing rules, and any service limits in Argentina.
- Prepare the registration file. Assemble corporate records, UBO charts, compliance manuals, platform architecture notes, and key contacts to streamline application.
- Monitor CNV updates and the PSAV page. Track new resolutions and check the register as it populates, adjusting your plan to match fresh guidance.
Who has to register, and who may be exempt
Start with the obvious cases. If you are a company operating an exchange or custody service marketed to or used by people in Argentina, expect to be in-scope. The rule says entities must be registered before operating, which sets the baseline (Boletín Oficial).
The exemption is narrower than it sounds: it’s for natural persons whose aggregated monthly activity does not exceed 35,000 UVA. That’s not a free pass for companies, and it’s not a blanket exemption for all individuals either. If you’re a sole proprietor running a de facto brokerage or a market-making side gig, tread carefully and document volumes if you believe the UVA threshold keeps you out of scope (Boletín Oficial).
Cross-border questions always pop up. If you’re an offshore platform serving Argentine residents, your marketing, onboarding flows, language support, and local partnerships will all be looked at. In practice, user-facing activity aimed at Argentina is what matters more than where your servers sit.
Operating choices under PSAV rules
Two areas will soak up most of your implementation time: custody operations and token listing workflows.
On custody, the safest pattern is old-school: client assets ring-fenced, with reconciliation files and address whitelisting. If you mix house and client balances, get ready to explain your control stack. On listings, the 90-day rule nudges you to think in product tracks: an “established assets” track and a “new listings” track with risk flags.
| Listing approach | Pros | Cons | Best for |
|---|---|---|---|
| Hold new assets for 90 days | Simplest compliance, fewer UI changes | Lost early trading volume, slower market response | Small platforms, thin compliance budgets |
| List immediately in a segregated section with warnings | Keeps growth optionality, hits the rule directly | Requires reliable launch-date data, UI build, QA | Mid to large exchanges prioritizing new flows |
| Curate only post-90-day assets | Low complexity, consistent user experience | Limited asset menu, potential churn to rivals | Brokerage-style apps targeting mainstream users |
Pro tip: automate token age checks at the data-layer, not just the UI. If the feed tags an asset under 90 days, your listing tool should force it into the “new” section and attach the warning copy by default.
Bitget press image announcing PSAV registration in Argentina — shows the exchange’s market‑entry graphic and illustrates an exchange publicizing its CNV PSAV registration (useful visual of an exchange obtaining PSAV status). — Source: Bitget (press release)
Pitfalls & Red Flags
- Assuming the UVA carve-out covers companies. The text references natural persons. Don’t stretch it to corporate entities without explicit backing.
- Guessing on token launch dates. If your age data is wrong, your “new asset” disclosures will be wrong. Source dates systematically and log updates.
- Commingling client and house assets. Even if common in crypto, it increases regulatory and operational risk. Segregate and document reconciliations.
- Copying an overseas license. A license elsewhere doesn’t substitute for PSAV registration if you target Argentina. Local obligations still apply.
- Ignoring CNV cadence. CNV posted several July 2026 updates. Expect tweaks, FAQs, or clarifications and adjust promptly (CNV — Marco Regulatorio).
- Waiting for the first mover. The register shows zero entries now. That’s not a reason to delay prep; it’s a window to get your file in order (CNV — Registro PSAV).
Frequently Asked Questions
Does my exchange need to stop onboarding Argentine users until we’re on the PSAV list?
The rule says entities must be registered before operating in scope. If you are already active, talk to counsel about interim risk controls while you prepare a filing. Expect the safer approach to align operations with registration timelines (Boletín Oficial).
What counts toward the 35,000 UVA threshold for natural persons?
The exemption refers to aggregated monthly activity. That implies you should track your total crypto activity volume across services if you wish to rely on it. The carve-out is for natural persons, not companies (Boletín Oficial).
How exactly do we define “launch age under 90 days” for an asset?
Use a consistent, documented method. Many platforms anchor to the protocol’s mainnet or token genesis date, or the first public distribution. Whatever you adopt, apply it uniformly, and show the warning in a dedicated section for those assets (Boletín Oficial).
We’re licensed abroad. Can we serve Argentina without PSAV registration?
Foreign authorization typically does not replace local obligations if you target Argentine users. The activity and user base in Argentina are what matter for PSAV, not just your server or legal domicile.
Where can I see if any firms have registered yet?
Check CNV’s public PSAV page. At the time of writing, it shows zero legal entities and zero natural persons listed, so watch for updates as applications are processed (CNV — Registro PSAV).
Will CNV publish more details or FAQs?
CNV’s July 2026 activity suggests ongoing refinements are likely. Keep an eye on new General Resolutions and related notices for clarifications that could affect timing and documentation (CNV — Marco Regulatorio).
