Argentina - Money laundering controls are threatening parts of Argentina’s crypto sector
Big, international exchanges like Binance and Bitso will likely take over the lion’s share of the market as a result.
Lawmakers passed proposed AML legislation in the lower house of Argentina’s congress on 19 April. The law, set for debate in the Senate, could make small exchanges, P2P crypto transactions illegal.
The law proposes a more decentralized Unit for Financial Investigation (UIF) and an autonomous technocrat to run the show. It also proposes more reporting of suspicious activity and KYC-related issues to the UIF.