Coinbase wins the approval of work in the encryption market in Argentina

In a modern development, Coinbase was granted the approval of the National Securities Committee in Argentina (CNV) to work as a virtual asset service provider (VASP). A joint exchange of a Blog mail. Expansion is part of the exchange task to increase economic freedom worldwide. In 2023, Coinbase launched its services in Brazil as the first payment to the Latin American region.

This regulatory green light indicates Coinbase’s commitment to compliance and aims to enhance user protection in the legal framework of Argentina for virtual assets.

5 million users per day!

Coinbase pointed out that approximately 5 million Argentines use Crypto daily, as 76 % of adults are a solution to financial issues such as inflation and high transaction costs. Matìas Alberti, former Fintech CEO at Buenbit and Clara will lead Coinbase operations in Argentina.

Coinbase approval allows providing services such as buying, selling and storing encrypted currencies in one of the largest Latin American economies, and thus expanding its global scope.

Markets get competition

Moreover, Coinbase’s expansion in Argentina comes when the market becomes more competitive, as Binance also recorded in the country in October. Also, Argentina is preparing for some major changes because it plans to allow the circulation of the free currency by 2025, allowing transactions in different currencies, including cryptocurrencies such as bitcoin.

Coinbase’s launch in Argentina coincides with the growing international encryption cooperation. In December 2024, Argentina and El Salvador signed an agreement to enhance the encryption industry, paving the way for Argentina to become a major player in the global digital asset market.