ME News reports that on July 24 (UTC+8), the Argentine government is advancing efforts to relax capital market regulations, proposing to allow Collective Investment Funds (FCIs) to invest in Bitcoin and other cryptocurrencies, and permitting virtual assets to be used as collateral. This initiative stems from a draft “Deregulation Bill” prepared by Minister of Economy Federico Sturzenegger, which is currently awaiting signature by President Javier Milei before being submitted to Congress. The draft explicitly permits FCIs to allocate assets to virtual assets and establishes “qualified investor” funds. The National Securities Commission’s oversight of FCIs is limited to reviews of legality and technical solvency; the central bank will have exclusive authority to regulate infrastructure for registering or transferring cryptocurrency and tokenized assets. The draft also explicitly allows securities such as stocks and convertible bonds to be issued, stored, and traded via blockchain networks. (Source: ODAILY)
Argentina Proposes Easing Capital Market Controls to Allow Fund Investments in Cryptocurrencies
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Summary
The Argentine government is moving to relax capital market restrictions, aiming to allow mutual investment funds (FCI) to invest in Bitcoin and other digital assets. The draft “Deregulation Bill,” spearheaded by Economy Minister Federico Sturzenegger, will be submitted to President Javier Milei for approval before reaching Congress. The proposal introduces a new framework for “qualified investors,” with the National Securities Commission overseeing FCI compliance. The central bank will oversee crypto infrastructure, and the bill also permits blockchain-based trading of securities. Although the draft does not specify capital gains tax details, the regulatory shift appears to align with the direction of MiCA (EU Markets in Crypto-Assets Regulation).
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