Argentina's VASP Framework: What CNV Resolution 1058/2025 Means for Enterprise Payments

Background

In late 2025, Argentina's Comisión Nacional de Valores (CNV) published Resolution 1058/2025, establishing the country's first formal registration framework for Virtual Asset Service Providers (VASPs). The resolution marked a significant step in Argentina's regulatory evolution—moving from a largely permissive "wait and see" posture to a framework that imposes affirmative registration obligations, AML/CFT compliance requirements, and operational standards on entities providing virtual asset services to Argentine users.

For enterprise finance teams doing business in Argentina—whether as local entities, foreign companies paying Argentine suppliers, or multinationals with Argentine subsidiaries—the resolution has direct practical implications.

What the Resolution Covers

CNV Resolution 1058/2025 defines a VASP as any natural or legal person that provides, as a business activity, one or more of the following services for or on behalf of third parties:

1. Exchange between virtual assets and fiat currencies
2. Exchange between one or more forms of virtual assets
3. Transfer of virtual assets
4. Safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets
5. Participation in and provision of financial services related to an issuer's offer and/or sale of a virtual asset

Any entity meeting this definition and serving Argentine users must register with the CNV, maintain an AML/CFT compliance program aligned with UIF (Unidad de Información Financiera) standards, conduct KYC/KYB verification on all clients, and maintain transaction records in accordance with CNV requirements.

What It Means for Enterprise Users

If you are an enterprise using a VASP-registered platform to make cross-border payments involving USDC, the registration framework actually works in your favor. A registered VASP has:

• Affirmative compliance obligations: They must conduct KYB verification on your business, which means the payment chain is verifiable end-to-end.
• UIF reporting obligations: Suspicious transactions must be reported, adding a layer of AML oversight.
• CNV oversight: Registered VASPs are subject to ongoing supervision, audits, and potential sanctions for non-compliance.

This is materially better than using unregistered platforms, which operate outside the regulatory perimeter and expose your business to counterparty risk.

Stabled's Architecture in Argentina

Stabled operates a non-custodial model. The actual fiat-to-USDC and USDC-to-fiat conversion services for Argentine users are performed by Sixalime SAU, which holds CNV VASP Registration No. 21 under Resolution 1058/2025. Stabled acts as a coordination platform—connecting your treasury management interface to Sixalime's regulated services.

This architecture means:

1. You transact with a CNV-registered entity for the regulated portions of each payment
2. Stabled never holds your assets (non-custodial)
3. Your payments are compliant with Argentine VASP regulations from day one

Practical Guidance for Finance Teams

If you are currently sending cross-border payments involving Argentine counterparties, you should ask your payment provider the following:

1. Are you registered with the CNV as a VASP under Resolution 1058/2025, or do you rely on a registered third party?
2. Do you conduct KYB verification on business clients?
3. How are transactions reported to UIF?
4. Do you maintain an AML/CFT program aligned with current UIF guidance?

If you cannot get clear answers to these questions, you are likely operating with an unregistered provider—which creates regulatory exposure for your business.

Conclusion

Argentina's CNV Resolution 1058/2025 is a positive development for enterprise finance teams. It creates a clear legal framework, establishes minimum compliance standards, and provides a way to distinguish legitimate providers from unregistered platforms. The enterprises that move quickly to align their Argentine payment flows with registered VASPs will be better positioned for regulatory developments to come.

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Questions about compliant payment infrastructure for your Argentine operations? Contact our team.