Argentina unveils tokenisation framework with year-long sandbox

Argentina’s securities regulator, Comisión Nacional de Valores (CNV), has introduced a new framework for asset tokenisation, aiming to modernise financial operations in the country.

The initiative allows digital representations of assets such as stocks, bonds, and mutual fund shares to be issued under legal recognition within a sandbox environment active for one year.

The CNV clarified that this framework includes partial or full digital representations of securities, including shares with dual listings, debt instruments, and certificates of participation in financial trusts.

These digital issuances will not require special authorisation beyond a general digitisation permit.

Registered virtual asset service providers (VASPs) will manage the offerings and ensure compliance with existing regulations.

“We are a regional beacon. Our goal is to lead in this field and ensure the country has all the latest technology,” emphasised CNV President Roberto Silva, highlighting the framework’s significance.

Silva also noted that public consultations during the sandbox period would refine the framework and address potential operational challenges.

The sandbox structure is designed to test and improve the tokenisation process while maintaining regulatory oversight.

It represents Argentina’s efforts to align with global trends in financial innovation while ensuring compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) standards.

This move follows Argentina’s broader push toward cryptocurrency regulation.

In March 2025, CNV implemented stringent rules for VASPs, requiring registration and adherence to cybersecurity and asset custody standards.

Companies failing to comply face operational bans.

The tokenisation framework is expected to complement these regulations by fostering innovation in digital finance.

Industry stakeholders have expressed cautious optimism about the initiative but raised concerns about overregulation potentially stifling growth.