Argentina's National Securities Commission (CNV) has decided not to intervene in the LIBRA case but instead plans to introduce stricter regulations for Virtual Asset Providers (PSAV). The agency aims to ensure market stability and protect investors with these new regulations. The CNV will focus on companies that facilitate crypto operations and not individual investors. The decision not to intervene in the LIBRA issue is due to the lack of legal rules covering token promotions on decentralized platforms. Critics argue that this regulatory gap allows fraudulent schemes to thrive. The LIBRA scandal resulted in a market cap crash, impeachment discussions, and investor losses, leading to scrutiny of the government's inner circle. Argentine lawyers have filed a complaint with the DOJ & FBI, urging an investigation into President Milei. Although the CNV has chosen not to intervene directly, growing political and public pressure may lead to a regulatory shift. This incident highlights weaknesses in Argentina's cryptocurrency oversight.



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