Bybit Gains VASP License in Argentina

Bybit getting the VASP license from the Financial Intelligence Unit of Argentina is a big boost to the exchange. This approval will allow Bybit to offer

Cryptocurrency exchange Bybit has secured a license to operate as a Virtual Asset Service Provider (VASP) in Argentina.

This authorization will enable Bybit to offer its full suite of services, including spot and derivatives trading, to residents of the South American country.

The exchange will also be permitted to launch crypto-backed payment cards in Argentina, which could further enhance the adoption and utilization of digital assets in the country.

Bybit is now among the major players in the Latin American market, and its entry into Argentina aligns with the country’s progressive approach to regulating cryptocurrencies.

This move is also part of Bybit's broader strategy to contribute to the development of the digital asset industry in the region.

Argentina has taken significant steps to integrate blockchain technology into its economy.

In March, the country legalized the use of cryptocurrencies in transactions and financial settlements, following a bill that was championed by pro-Bitcoin congressman Javier Milei.

This measure is aimed at tapping into the crypto economy to help resolve Argentina's current economic challenges.

Bybit's entry into the Argentine market and the services it offers are expected to further advance this goal.

The exchange's presence will provide Argentinians with greater access to the digital asset market, while crypto-backed payment cards will expand the use cases of cryptocurrencies in daily life.

Argentina's embrace of cryptocurrencies and blockchain technology is evident in its decision to house the headquarters of the Latin American Bank for Social Development (CAF) in Buenos Aires.

This move is seen as an attempt by the country to become a regional hub for crypto-related activities.

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