Bybit has registered as a Virtual Asset Service Provider (VASP) and card operator in Argentina in a move that furthers its expansion plans into the Latin
Cryptocurrency exchange Bybit has registered as a Virtual Asset Service Provider (VASP) and card operator in Argentina as part of its expansion into the Latin American country.
The world's second-largest crypto exchange by trading volume was included in the Argentinian VASP registry as part of its policy to adhere to local regulations and provide a secure and compliant platform for its users.
Bybit offers Argentinian users access to a diverse range of digital assets and cryptocurrency-backed payment cards.
“Bybit is committed to supporting Argentina’s economic growth”
Ben Zhou, Co-Founder and CEO of Bybit, said: “We are excited to become a registered VASP and card issuer in Argentina, and take compliance seriously. This achievement marks a significant step forward in our mission to provide accessible and secure digital asset services to users worldwide and our commitment against financial crime. Bybit is committed to supporting Argentina’s economic growth and empowering its citizens through the payment capabilities and potential of blockchain technology.”
As a registered VASP, Bybit now adheres to Argentina's stringent anti-money laundering (AML) and counter-terrorism financing (CFT) regulations.
The move follows Argentina's IGJ recently approving Bitcoin and USDC to be included in local companies' social capital.
Argentina is the first country to approve crypto for corporate capital
The General Inspection of Justice (IGJ) of Argentina recently approved the use of Bitcoin (BTC) and USD Coin (USDC) as part of a company's social capital and for capital raises. This approval marks a significant legal milestone in the country, being the first instance where cryptocurrency has been officially recognized as a valid form of corporate capital in Argentina.
The approval was granted after the law firm Allende and Brea registered a company with a modest initial capital contribution of around $303, split between 195 USDC and 0.00457621 BTC. The process involved creating new crypto wallets on platforms like Lemon Cash and Ripio for both the company and its token-holding partner. These platforms were essential in providing real-time valuation certificates for the cryptocurrency, which is a requirement under Argentina's General Law of Companies (LGS) for precise asset valuation in capital-related transactions.
This move is seen as a pioneering step, reflecting Argentina's growing acceptance of digital assets. The IGJ's approval has been praised for aligning with technological advancements, potentially setting a precedent for the future use of cryptocurrencies in corporate finance both in Argentina and potentially in other regions as well.
The above is the detailed content of Bybit Registers as a Virtual Asset Service Provider (VASP) and Card Operator in Argentina. For more information, please follow other related articles on the PHP Chinese website!

为了进一步推动Web3开启开放、简单、公平的未来愿景,BybitWeb3宣布与Solana(SOL)发展最快的去中心化金融(DeFi)协议之一KaminoFinance建立合作关系。BybitWeb3的使命是建立一个以可访问性和协作为特色的去中心化生态系统。我们与KaminoFinance的合作代表着BybitWeb3用户将有机会探索和参与Solana生态系统的发展。Bybit用户将受益于Solana领先的DeFi应用程序KaminoFinance,该应用程序以其流动性、杠杆和借贷服务而享有盛誉

Argentina is gradually modernizing its law framework to open to new technologies and cryptocurrency. Last week, the Justice Ministry of Argentina reported that a company had been registered using cryptocurrency funds, marking it as the first time thi

Bybit has launched bbSOL, the world's first exchange-backed liquidity staking token on the Solana blockchain. BbSOL allows users to stake their Solana (SOL) on Bybit's Web3 platform in exchange for bbSOL tokens.

Bybit, the second-largest cryptocurrency exchange by trading volume, will be listing the $DOGS token on its Spot trading platform on August 26, 2024, at 12:00 UTC.

Bybit has announced the launch of bbSOL, an innovative Liquid Staking Token (LST) on the Solana blockchain, marking the first LST developed by a centralized exchange on this network.

ETH Kipu Foundation, an organization focused on supporting and developing the Ethereum ecosystem in Latam, has partnered with the Ministry of Education

A new report analyzing the performance of tokens across multiple cryptocurrency exchanges has uncovered data that suggests Bybit is the top competitor for Day 1 price surges.

全球三大加密货币交易所Bybit宣布,BybitWeb3将率先推出BTCLayer2季度活动,与MerlinChain合作举办的空投活动,将发放总值$100,000的$MERL空投奖励。Bybit联合创始人兼首席执行官BenZhou表示他们很高兴与新兴的Layer2领域关键参与者MerlinChain展开合作。这次空投提供了用户探索BTCLayer2潜力的绝佳机会,也为这一蓬勃发展的生态系统增添了一份力量。2024年3月18日上午10点至2024年4月18日上午10点(协调世界时)将举办一场精彩

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

Safe Exam Browser
Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

Dreamweaver CS6
Visual web development tools

PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool
