Bitcoin

Read

Crypto exchange Bybit has been awarded a crypto services license by the Argentine General Inspectorate of Justice.
Crypto trading platform <a href="https://crypto.news/tag/bybit/" target="_blank" rel="noopener noreferrer nofollow">Bybit</a> says it has been awarded a virtual-asset services provider license by <a href="https://crypto.news/tag/argentina/" target="_blank" rel="noopener noreferrer nofollow">Argentina</a>‘s General Inspectorate of Justice just a few weeks after entering the market with its Mastercard debit card offering.
In an Aug. 15 <a href="https://www.prnewswire.com/news-releases/bybit-becomes-a-registered-vasp-and-card-operator-with-the-fiu-in-argentina-pioneering-digital-asset-services-302224147.html" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the crypto exchange that in addition to the VASP license, it has also become a card operator in Argentina to boost its services in the local market. Bybit chief executive Ben Zhou says with the license, the exchange is “committed to supporting Argentina’s economic growth and empowering its citizens through the payment capabilities and potential of blockchain technology.”
<h2 class="wp-block-heading" id="argentina-advances-crypto-regulation">Argentina advances crypto regulation</h2>
The licensing comes shortly after Bybit <a href="https://www.bybit.com/en/press/post/bybit-card-launches-in-argentina-delighting-users-with-a-10-000-ars-bonus-and-more-bltfd79689a056c90f4" target="_blank" rel="noopener noreferrer nofollow">launched</a> its Bybit Card in Argentina. According to Joan Han, Bybit’s sales and marketing director, the card program expansion was driven by Argentina’s rapid growth in digital assets, creating demand for innovative solutions to improve financial inclusivity and convenience.
Earlier this year, Argentina’s National Securities Commission <a href="https://crypto.news/argentina-introduces-national-registry-for-crypto-exchanges-to-enhance-market-integrity/" target="_blank" rel="noopener noreferrer nofollow">introduced</a> the VASP registry, following mandatory registration requirements announced in late March. Roberto E. Silva, chair of the CNV, noted the country’s expedited efforts to enhance compliance measures aimed at combating money laundering and terrorism financing.
Despite these efforts, the local crypto community remains wary of heightened government regulation. Manuel Ferrari, a member of the Argentinian NGO Directive and co-founder of the Money On Chain protocol, called the registry a “terrible idea” in a Forbes interview, asserting that Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) should be considered “money, not a security.”
Read more: <a href="https://crypto.news/decoding-argentinas-bitcoin-frenzy-reality-vs-rumor/" rel="noopener noreferrer nofollow"> Decoding Argentina’s Bitcoin frenzy: reality vs rumor </a>

Bybit secures VASP license, becomes card operator in Argentina

Table of Contents

crypto.news

Other articles published on Aug 16, 2024

Toncoin Price Nears All-Time High as TON Launches $40M Venture Fund

RingOfRings: HyperCycle’s Advanced Solution for Enhanced Crypto Security

ZachXBT claims 21 North Korea crypto devs are making $500K a month

Trump Picks Howard Lutnick for Key Role in Transition Team

New Price Challenges Hit Arbitrum and Bitcoin Cash; Investors Flock to BlockDAG Bonus System

Bitcoin Holders Reap Profits

Join our free newsletter for daily crypto updates!