Argentina is moving to loosen capital market rules under a draft deregulation bill that would allow common investment funds, or FCI, to allocate assets to Bitcoin and other cryptocurrencies. The proposal would also permit virtual assets to be used as collateral. The draft was prepared by Economy Minister Federico Sturzenegger and is awaiting President Javier Milei’s signature before being sent to Congress. It also introduces funds for qualified investors, sets out how oversight would be divided between the national securities regulator and the central bank, and opens the door for stocks, convertible bonds and other securities to be issued, stored and traded through crypto networks. The measure points to a broader effort to reshape how regulated investment vehicles and digital assets can interact in Argentina’s capital markets.
Argentina is advancing a plan to loosen capital market restrictions, with a draft bill that would allow common investment funds, known as FCI, to invest in Bitcoin and other cryptocurrencies. The proposal would also permit virtual assets to be used as collateral.
The measure comes from a deregulation bill drafted by Economy Minister Federico Sturzenegger. The draft is currently awaiting President Javier Milei’s signature before it is submitted to Congress.
FCI funds would be allowed to hold virtual assets
The bill explicitly allows FCI vehicles to allocate assets to virtual assets and would create funds for qualified investors.
Supervisory responsibilities are split between regulators
Under the draft, Argentina’s National Securities Commission would supervise FCI only for legality and technical solvency reviews. The central bank would have exclusive authority over infrastructure used for the registration or transfer of cryptocurrencies and tokenized assets.
Securities could be issued and traded on crypto networks
The draft also expressly allows securities including stocks and convertible bonds to be issued, stored and traded through crypto networks.
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