Argentina has a bank-based financial system supervised by the Banco Central de la República Argentina (BCRA). The BCRA authorises banks and other financial entities, registers payment service providers and authorises foreign exchange operators. The Comisión Nacional de Valores (CNV) regulates capital market agents and, since 2024, keeps the registry of virtual asset service providers. Argentina is known for a large digital wallet sector and wide use of crypto-assets.
Risk flagStandard
FATFNot listed
EU AML high-risk listNot listed
EU tax listNot listed
Licence regimes6
CurrencyARS
S&P ratingB-
Next electionOctober 2027
Argentina is not on the FATF grey or black lists after the 17 to 19 June 2026 plenary (no October 2026 plenary outcome yet). It is not on the EU high-risk third country list (Delegated Regulation (EU) 2016/1675 as last amended by Delegated Regulations (EU) 2026/46 and 2026/83, in force 29 January 2026). It is in neither Annex I nor Annex II of the EU tax list revised by Council conclusions of 9 October 2026. Checked 13 October 2026.
Government and politics
Government
Federal presidential republic
President
Javier Milei · since December 2023
President
Javier Milei (La Libertad Avanza (LLA))
Governing parties
La Libertad Avanza (LLA), Backed in Congress by PRO, parts of the UCR and allied provincial blocs
Last election
Legislative midterm (127 Deputies and 24 Senate seats), 26 October 2025
Next election
General (presidential and legislative), October 2027. The Electoral Code sets the fourth Sunday of October, 24 October 2027. A government bill to eliminate the PASO primaries is pending in the Senate.
Legislature
National Congress: bicameral, Chamber of Deputies (257 seats) and Senate (72 seats)
Legal system
Civil law
Economy and finance
Population
47.5m (2025)
GDP
USD 683.6bn (2025)
GDP per person
USD 14,399 (2025)
Currency
Argentine peso (ARS), managed float within a band: since April 2025 the peso floats between a floor and a ceiling at which the BCRA buys or sells dollars; since January 2026 both limits move monthly in line with the latest INDEC inflation figure
Central bank
Banco Central de la República Argentina (BCRA)
Credit rating
S&P B- (stable) · Moody's B3 (positive) · Fitch B- (stable) (as of July 2026)
A large agricultural and energy exporter, stabilizing after years of high inflation through fiscal surpluses. Banks are supervised by the BCRA and capital markets by the National Securities Commission (CNV).
Bank
Autorización para funcionar como banco comercial (commercial bank authorisation)
Minimum capitalBasic minimum capital of ARS 5,000 million for banks. Other financial entities need ARS 2,500 million, except cooperative credit unions. Finance companies that carry out foreign trade operations directly must meet the bank figure. The actual requirement is the higher of this basic amount and the sum of the credit, market and operational risk charges (Capitales mínimos, points 1.1 and 1.2).
TimelineNot published
AuthorityBanco Central de la República Argentina
Basic minimum capital of ARS 5,000 million for banks. Other financial entities need ARS 2,500 million, except cooperative credit unions. Finance companies that carry out foreign trade operations directly must meet the bank figure. The actual requirement is the higher of this basic amount and the sum of the credit, market and operational risk charges (Capitales mínimos, points 1.1 and 1.2).
Law
Ley de Entidades Financieras nº 21.526, arts. 2 and 7; BCRA Texto ordenado "Autorización y composición del capital de entidades financieras", Section 2; BCRA Texto ordenado "Capitales mínimos de las entidades financieras", point 1.2
Fees
Evaluation fee equal in pesos to 10,000 UVA, paid with the application. After approval, an enabling fee equal in pesos to 80,000 UVA for banks, or 35,000 UVA for other classes except cooperative credit unions (Autorización y composición del capital, points 2.5 and 2.7). UVA is an inflation-indexed unit published by the BCRA.
Passporting
No passporting regime.
Key requirements
Prior BCRA authorisation before starting activity (Ley 21.526, art. 7)
Founders file a five-year business plan with an independent professional report (point 2.4.10)
Shareholders must prove the solvency and liquidity to pay in the committed capital (point 2.4.7)
Fit and proper checks on shareholders, directors and statutory auditors (point 2.4.8)
Capital fully subscribed at incorporation, at least 25% paid in cash, the rest within 60 days of authorisation (point 2.9.2)
Activity must start within one year of authorisation, or the authorisation lapses (point 2.8.2)
Sucursal de entidad financiera del exterior (branch of a foreign financial entity)
Minimum capitalThe requirements for new entities apply to branches as far as compatible (point 2.4.11). The basic minimum capital for banks is ARS 5,000 million.
TimelineNot published
AuthorityBanco Central de la República Argentina
The requirements for new entities apply to branches as far as compatible (point 2.4.11). The basic minimum capital for banks is ARS 5,000 million.
Law
Ley de Entidades Financieras nº 21.526, arts. 7 and 13; BCRA Texto ordenado "Autorización y composición del capital de entidades financieras", point 2.4.11
Fees
Same evaluation and enabling fees as a new entity (points 2.5 and 2.7).
Passporting
No passporting regime.
Key requirements
Favourable opinion of the home supervisor on opening the branch (point 2.4.11.4)
Description of the home country deposit guarantee scheme (point 2.4.11.3)
Home supervisor certificate that the bank is not a shell bank (point 2.4.12)
Branches are subject to Argentine law and courts (Ley 21.526, art. 13)
Registro de proveedores de servicios de pago (payment service provider registration), including PSP que ofrecen cuentas de pago (PSPCP, payment account providers)
Minimum capitalNot published
TimelineNot published
AuthorityBanco Central de la República Argentina (Superintendencia de Entidades Financieras y Cambiarias)
Law
BCRA Texto ordenado "Proveedores de servicios de pago", Sections 1, 2 and 4 (texto ordenado al 02/10/2026)
Passporting
No passporting regime.
Key requirements
Registration, not a licence: the SEFyC issues a certificate and a registry number, which is required to operate (point 2.3)
Applies to non-bank legal entities that provide payment accounts, acceptance, digital wallet initiation, acquiring, aggregation and some other payment functions (points 1.2.1 and 2.1)
The corporate purpose must expressly cover the payment services (point 2.2.1)
The BCRA flags deficiencies within 10 business days; the applicant must cure them within 20 business days or the file lapses (point 2.3)
Operations must start within 12 months of registration (point 2.3)
PSPCPs must keep 100% of client funds in peso sight accounts at Argentine financial entities (point 4.1.2)
Inscripción en el Registro de Proveedores de Servicios de Activos Virtuales (PSAV registration)
Minimum capitalUSD 35k
TimelineNot published
AuthorityComisión Nacional de Valores
The CNV sets minimum net worth in US dollars by category (art. 9). USD 150,000 for exchange between virtual assets and fiat money, exchange between virtual assets, and custody or administration (categories 1, 2 and 4). USD 75,000 for transfer of virtual assets (category 3). USD 35,000 for services linked to an issuer's offer or sale of a virtual asset (category 5). The figure halves where volume traded or held in custody was under USD 2.5 million in the last 12 months. A firm in several categories meets the highest figure.
Law
Ley 25.246, art. 4 bis (inserted by Ley 27.739 of 2024); CNV Normas (N.T. 2013 y mod.), Title XIV, Chapter III, as replaced by CNV Resolución General 1058/2025
Fees
An annual CNV supervision and control fee applies to PSAVs. The amount was not confirmed in this check.
Passporting
No passporting regime.
Key requirements
Registration with the CNV before carrying out any PSAV activity (art. 1)
Legal entities must be a sociedad anónima or SRL formed in Argentina, or a foreign company registered locally as a branch or permanent representation (art. 6)
A foreign company must register if it uses a .ar domain, targets or advertises to Argentine residents, takes local funds through on-ramp partners, or earns over 20% of its volume in Argentina (art. 3)
Compliance officer for regulatory compliance and internal control, and a public relations officer (art. 6 and art. 21)
Segregation of client virtual assets from own assets and secure key custody (arts. 16 and 17)
Annual systems audit, including proof of reserves (art. 20)
Inscripción en el Registro de operadores de cambio: casa de cambio or agencia de cambio (foreign exchange house or agency)
Minimum capitalMinimum computable net worth of ARS 140 million for an exchange house (casa de cambio) and ARS 70 million for an exchange agency (agencia de cambio) (point 3.1)
TimelineNot published
AuthorityBanco Central de la República Argentina
Minimum computable net worth of ARS 140 million for an exchange house (casa de cambio) and ARS 70 million for an exchange agency (agencia de cambio) (point 3.1)
Law
BCRA Texto ordenado "Operadores de cambio", Sections 1, 2, 3 and 5 (texto ordenado al 20/03/2025)
Passporting
No passporting regime.
Key requirements
Any legal entity that deals regularly in the foreign exchange market needs prior BCRA authorisation through the registry (point 1.1)
Agencies are limited to buying and selling foreign notes, traveller's cheques and gold, and some related operations (point 1.2.1)
Exchange houses may carry out all operations allowed under the exchange rules (point 1.2.2)
Guarantee of at least 10% of the capital requirement, with proof of the origin of funds (point 5.1)
Application filed electronically with the entity's tax login (point 2.1)
Banco Central de la República Argentina (BCRA) · websitebanks, Payment service providers, FX brokers
Comisión Nacional de Valores (CNV) · websiteInvestment firms, Virtual asset service providers (VASPs), Funds
The BCRA sets several fees in Unidades de Valor Adquisitivo (UVA). The UVA is an inflation-indexed unit and its peso value is published daily by the BCRA. The basic minimum capital in pesos is not indexed, so the BCRA updates it by communication; the figures here come from the ordered text dated 11 September 2026. Payment service providers register with the BCRA. The rules opened set no minimum capital for them. PSPCPs may not offer or facilitate operations with digital assets, including crypto-assets, that no competent national authority or the BCRA has authorised (point 4.6). PSAV regime: Ley 27.739, published 15 March 2024, added virtual asset service providers to the anti-money laundering law and gave the CNV the registry. The CNV first set registration rules in RG 994/2024. RG 1058/2025 replaced them and entered into force 45 days after publication in March 2025. Its full requirements applied to firms already registered from 31 December 2025. The CNV regulates PSAVs only, not virtual assets, unless an asset is a security. Capital market agents: the CNV revised the minimum net worth matrix for agents by RG 1165/2026 and RG 1168/2026 in September 2026. The official text was not opened in this check, so the agent capital figure is null. Fund managers and other CNV registrations were not covered in this check. Online gaming was not covered in this check.
General information
About Argentina
Natural Earth boundaries. Map is indicative.
Status
Sovereign state
Capital
Buenos Aires
Area
2,780,400 km²
Official languages
Spanish
Time zone
UTC-03:00
Main exports
Soybean meal and pellets
Soybean oil
Corn
Soybeans
Crude petroleum
Beef
Gold
Pickup trucks
Main export partners
Brazil
China
United States
Chile
India
Sources for the country information(20)
Country information checked 13 October 2026. Licensing data updated 13 October 2026. Information only, not legal advice; requirements change. Regulatory notice.
