Bit2Me Receives Approval as Virtual Asset Service Provider in Argentina

Bit2Me Secures Approval as a Virtual Asset Service Provider in Argentina

Bit2Me, a prominent cryptocurrency exchange based in Spain, has recently announced that it has received official approval as a Virtual Asset Service Provider (VASP) from Argentina’s National Securities Commission (CNV). This significant milestone was shared by the company in a statement released on Friday.

This authorization not only underscores Bit2Me’s commitment to operating within local regulatory frameworks, but it also instills confidence among both investors and Argentine financial institutions. The company’s proactive approach to compliance sets a precedent in the fast-evolving crypto landscape.

In March 2023, the CNV initiated a registry for virtual asset service providers, which is a mandatory requirement for companies wishing to engage in crypto activities within Argentina. As of now, the registry has approved a total of 79 companies, according to the official list published by the CNV.

Earlier in June 2023, Bit2Me successfully completed a funding round that raised $15 million, which is aimed at bolstering its footprint in Spain while also accelerating its expansion efforts throughout Latin America. The company has already made significant strides, including the acquisition of a majority stake in the Peruvian crypto firm Fluyez in 2022.

Additionally, in the same year, Bit2Me secured approval from the Bank of Spain to act as a provider of services for converting virtual currencies to fiat currencies and to oversee the custody of digital wallets within the country. This dual recognition from Argentine and Spanish authorities further solidifies Bit2Me’s reputation as a trusted player in the cryptocurrency market.