Coinbase has just received approval from Argentina's National Securities Commission (CNV) to expand its services in the country, where it has been operating since 2019.
The CNV has granted Coinbase a virtual asset service provider (VASP) registration, allowing the exchange to offer new services, including local payment methods in the Argentine peso.
Coinbase initially launched crypto-to-crypto conversions and trading in Argentina in 2019. With VASP registration, Coinbase can now operate within the country's legal framework for virtual assets and plans to gradually roll out more services in the coming months.
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A Coinbase spokesperson clarified that while the exchange previously operated without a license, it was not conducting illegal activities.
The spokesperson stressed the license allows Coinbase to offer a wider range of peso products, including local payment methods, which were previously limited.