Coinbase received approval from Argentina’s National Securities Commission (CNV), granting it a Virtual Asset Service Provider (VASP) registration. This registration allows Coinbase to operate within the country’s legal framework for virtual assets. The company has stated that it will continue to focus on providing a secure platform for users to trade and store crypto assets.
Alberti to Oversee Coinbase’s Argentina Operations
Matías Alberti has been appointed to lead Coinbase's operations in Argentina. Alberti has previous experience in the fintech sector, having worked with companies such as Buenbit and Clara. His role will involve overseeing Coinbase’s expansion in the Argentine market.
“Matías brings a wealth of experience and a deep understanding of the local market. We’re confident in his leadership as we work to bring crypto services to millions of Argentinians,” commented Fabio Plein, Director for the Americas at Coinbase.
Research Shows Widespread Crypto Support in Argentina
Research commissioned by Coinbase indicates that many Argentinians view cryptocurrency as a potential solution to these challenges. The findings show that 87% of Argentinians believe crypto could help them achieve greater financial independence, and 76% consider it a way to address issues like inflation and high transaction costs.
We're approved to launch in Argentina. ????????This is an important step in our international strategy and another key chapter in our mission to increase economic freedom around the world. pic.twitter.com/bfudgiDuVD
— Coinbase ????️ (@coinbase) January 28, 2025
Additionally, 79% are open to receiving payments in cryptocurrency, and approximately 5 million Argentinians use crypto daily.
Coinbase is also prioritizing education in Argentina. The company plans to launch local initiatives to promote financial literacy and help users navigate the cryptocurrency market. These efforts are intended to ensure that users can effectively understand and utilize digital assets.
Coinbase Appeals for Clarity on Regulations
In a separate development, Coinbase has petitioned the Second Circuit Court of Appeals to determine if its platform’s trades fall under federal securities laws. The company argues that its blind bid-ask system does not meet the criteria of the Howey test, as reported by Finance Magnates.
This legal battle could impact the broader crypto industry. The SEC paused its case after the Southern District of New York’s stay, allowing Coinbase to seek higher court guidance. The outcome could set a precedent for crypto regulation.
This article was written by Tareq Sikder at www.financemagnates.com.
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