Coinbase Launches Operations in Argentina Following Regulatory Approval
Coinbase has officially launched in Argentina after receiving approval from the National Securities Commission (CNV). This follows its registration as a Virtual Asset Service Provider (VASP), enabling it to operate under Argentina's digital asset regulatory framework.
Key points include:
- Matías Alberti, formerly of Buenbit, will lead Coinbase's operations in Argentina.
- High inflation and debt defaults have driven Argentinians towards cryptocurrencies.
- Research indicates 87% of Argentinians see blockchain as a means to financial independence.
- Approximately 5 million Argentinians use cryptocurrencies daily.
- 76% view crypto as a solution to financial issues; 80% are open to receiving payments in digital currencies.
Coinbase aims to enhance financial empowerment through education initiatives and compliance with local regulations, including strict Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) rules.