Coinbase Expands in Argentina with VASP Registration and Local Leadership

Coinbase received approval from Argentina’s National
Securities Commission (CNV), granting it a Virtual Asset Service Provider
(VASP) registration. This registration allows Coinbase to operate within the
country’s legal framework for virtual assets. The company has stated that it
will continue to focus on providing a secure platform for users to trade and
store crypto assets.

Alberti to Oversee Coinbase’s Argentina Operations

Matías Alberti has been appointed to lead Coinbase’s
operations in Argentina. Alberti has previous experience in the fintech sector,
having worked with companies such as Buenbit and Clara. His role will involve
overseeing Coinbase’s expansion in the Argentine market.

“Matías brings a wealth of experience and a deep
understanding of the local market. We’re confident in his leadership as we work
to bring crypto services to millions of Argentinians,” commented Fabio Plein,
Director for the Americas at Coinbase.

Research Shows Widespread Crypto Support in Argentina

Research commissioned by Coinbase indicates that many
Argentinians view cryptocurrency as a potential solution to these challenges.
The findings show that 87% of Argentinians believe crypto could help them
achieve greater financial independence, and 76% consider it a way to address
issues like inflation and high transaction costs.

We’re approved to launch in Argentina. 🇦🇷This is an important step in our international strategy and another key chapter in our mission to increase economic freedom around the world. pic.twitter.com/bfudgiDuVD

— Coinbase 🛡️ (@coinbase) January 28, 2025

Additionally, 79% are open to
receiving payments in cryptocurrency, and approximately 5 million Argentinians
use crypto daily.

Coinbase is also prioritizing education in Argentina. The
company plans to launch local initiatives to promote financial literacy and
help users navigate the cryptocurrency market. These efforts are intended to
ensure that users can effectively understand and utilize digital assets.

Coinbase Appeals for Clarity on Regulations

In a separate development, Coinbase
has petitioned the Second Circuit Court of Appeals to determine if its
platform’s trades fall under federal securities laws. The company argues that
its blind bid-ask system does not meet the criteria of the Howey test, as
reported by Finance Magnates.

This legal battle could impact the broader crypto industry.
The SEC paused its case after the Southern District of New York’s stay,
allowing Coinbase to seek higher court guidance. The outcome could set a
precedent for crypto regulation.

This article was written by Tareq Sikder at www.financemagnates.com.