by Andy
Legal Requirements for Tokenising Assets in Argentina
Through General Resolution No. 1069, Argentina's CNV has placed the country at the forefront of regional RWA regulation. Here is the legal architecture required, the regulators involved, and how to prepare your documentation without delays.
Following the rollout and expansion of General Resolution No. 1069 by the Comisión Nacional de Valores (CNV),Argentina boasts a trailblazing Latin American framework granting legal equivalence between digital tokens and traditional marketable securities. Understanding how these legal gears mesh before launching saves costly rework and accelerates time to market.
- The ring-fenced legal vehicle Regulation mandates that the underlying asset be housed within a recognised legal entity prior to token issuance. The two workhorse structures are:
- Financial trust (Fideicomiso Financiero): The gold standard for real estate, agribusiness, and infrastructure, legally insulating the asset from the operator's corporate balance sheet.
- Special Purpose Vehicle (SPV): Well suited to ongoing operating businesses or dynamic corporate structures.
- CNV registration and oversight Issuances falling under this regime apply for authorisation as marketable securities, filing an offering prospectus detailing the asset, risk factors, economic entitlements, and distribution waterfall. The framework incorporates a supervised Regulatory Sandbox designed to safeguard legal certainty and investor protection for issuers and savers alike.
- Distribution via registered VASPs (PSAVs) Primary placement and secondary trading must be routed through platforms registered as Virtual Asset Service Providers (Proveedores de Servicios de Activos Virtuales – PSAV) under CNV and Financial Information Unit (UIF) supervision. This guarantees rigorous identity checks (KYC) and anti-money-laundering (AML) compliance across all investors. Crucially, the asset owner need not become a regulated PSAV itself—it can plug directly into already-licensed distribution platforms.
Core documentation to fast-track approval A standard file requires clean title deeds and legal due diligence on the asset, audited financial statements, the trust deed or SPV articles, the offering prospectus, and compliance protocols. Experience shows that having your paperwork in order upfront is the single biggest lever for shortening regulatory sign-off.
What about neighbouring markets like Chile or Ecuador? While neither yet has a direct statutory equivalent to RG 1069, both jurisdictions permit compliant tokenised offerings by pairing established fiduciary or corporate vehicles with blockchain rails, tailored to local private-placement or public-offering rules.
This content is provided for informational purposes only and does not constitute investment advice. All investments carry risk.