Bybit’s registration as a Virtual Asset Service Provider was made possible by a law passed in July.
Cryptocurrency exchange Bybit has received registration as a virtual asset service provider (VASP) and card operator from Argentina’s Financial Information Unit (FIU).
In March, VASP registration was introduced in Argentina via legislation aimed at bringing the country into better conformity with the Anti-Money Laundering and Combatting the Financing of Terrorism requirements of the Financial Action Task Force (FATF). The FIU, which registered Bybit, is “in charge of analyzing, processing and transmitting financial intelligence information for the purposes of preventing money laundering and terrorist financing.”
Dubai-based Bybit, the second-largest crypto exchange by volume, began operating in Argentina in June 2022 and introduced the Bybit Card in July. The Bybit Card works like a debit card and crypto offramp, allowing users to withdraw from their ByBit accounts to pay in fiat currency.
