In Creole - what is a PSAV?
A PSAV is any person or company that offers services related to cryptocurrencies or virtual assets . This includes everything from exchanges (crypto exchanges) , platforms that store cryptocurrencies , to applications that allow you to send or receive virtual assets , among others. If your business somehow manages, manages, or facilitates crypto transactions , this regulation will be of interest to you.
What does this new regulation seek?
The main objective is to strengthen the security , transparency , and stability of the crypto ecosystem. This includes protecting consumers, preventing abuse, and preventing money laundering and terrorist financing.
Who does it apply to?
The resolution applies to all individuals or legal entities, local or foreign, that provide services such as:
- Exchange between virtual assets and fiat money (pesos, dollars, etc.),
- Transfer of virtual assets,
- Custody and administration of virtual assets,
- Among other activities defined by the CNV.
Mandatory registration
All PSAVs must register with the CNV before beginning operations. Those already operating must comply with the new requirements within the established timeframes.
Classification and heritage support
The CNV classifies PSAVs according to the activity they perform and requires a minimum capital , which varies between USD 35,000 and USD 150,000 , depending on the type of service provided.
Safety and prevention
AVSPs are required to implement robust cybersecurity measures, secure custody systems , and active policies to prevent money laundering and terrorist financing . This includes know-your-customer (KYC) procedures and internal controls.
Transparency and customer service
PSAVs must provide clear and accurate information , adequately manage risks, and have effective channels for customer service and complaint resolution. The goal is to protect users without hindering innovation.
Reports, audits and those responsible
The obligation is established to:
- Submit periodic reports to the CNV,
- Conduct annual audits of accounting systems and statements,
- Appoint a Regulatory Compliance Officer and a
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