Argentina’s National Securities Commission (CNV) approved General Resolution No. 1069, which establishes the country’s first regulatory framework for asset tokenization using blockchain technology. This measure, regarded as pioneering at the regional level, aims to modernize the capital markets and position Argentina as a benchmark for financial innovation.
Roadmap to Digitize Physical Assets
The first stage of the framework specifically covers the tokenization of financial trusts and closed-end mutual funds with public offerings, whose underlying assets are not securities traded in authorized markets but rather physical goods or rights with measurable economic value.
It is worth noting that the initiative falls under the framework established by Law No. 27,739 and officially recognizes the digital representation of tradable securities through Distributed Ledger Technology (DLT) as a valid and additional modality alongside traditional certificated or book-entry forms.
As Roberto E. Silva, president of the CNV, explained, “We have enacted a pioneering and innovative regulation for Argentina; it is a fundamental step that once again places the country at the regional and global forefront.” Silva also emphasized that “this work, developed over months, positions us as leaders in this field worldwide,” and noted that “many of the contributions received during the public consultation were incorporated into this first resolution.”
Sebastián Negri, vice president of the CNV, stated, “The framework is a concrete response to the growing demand for digitalization observed among both issuers and investors, and it has been designed with strong standards of legal certainty.”
A new Token Ecosystem
Operationally, the scheme stipulates that the digital representations of the securities must be derived from instruments previously issued in traditional form and deposited with a Central Securities Depository (CSD). It will not be necessary for these assets to be listed on secondary markets.
Tokens will be generated by entities specialized in blockchain technologies—which may or may not be registered as Virtual Asset Service Providers (VASPs)—and their commercialization, administration, custody, and digital environment will be under the responsibility of VASPs registered with the CNV.
Negri explained that “investors will be able to operate in digital environments with the assurance that the representation of their economic rights is backed by real assets, under clear rules.”
Sandbox in sight: One year of Regulated Trial
Initially, the framework will be implemented within a regulatory sandbox for a period of one year. During that time, issues under this innovative modality may be carried out. Once that period ends, no new issuances will be permitted under this scheme until its continuation or regulatory adaptation is defined, although transactions already executed will retain full validity.
If an approved issuance is not digitally represented within a maximum period of two years, it will automatically be excluded from the framework.
A key feature of the Argentine model is that investors will be able to request at any time the conversion of their tokens into a traditional form of representation, thereby guaranteeing functional equivalence and the availability of the underlying economic rights.
Global mirror: Argentina joins the Worldwide Trend
The CNV emphasized that this regulation seeks to ensure that digital instruments comply with standards of security, traceability, verifiability, transferability, and immutability. “This work, developed over months, positions us as leaders in this field worldwide,” Silva stated.
From an international perspective, the creation of a regulated tokenization framework in Argentina aligns with trends already seen in Switzerland, Singapore, Luxembourg, and the United Arab Emirates, where financial regulators have designed specific regimes for digital assets.
For example, Switzerland’s DLT Law came into force in 2021 and set precedents in Europe for the tokenization of shares and bonds. Likewise, the Monetary Authority of Singapore (MAS) promotes pilot projects for the tokenization of bank deposits and real estate.
Although in the United States the official stance remains divided between the SEC and the CFTC, during the Trump administration there was skepticism about the use of cryptocurrencies, even while acknowledging that technological development could “have value if regulated responsibly.”
These international references reinforce the strategic potential of Argentina’s new framework in a global landscape still seeking to reconcile innovation with investor protection.
For institutional investors and foreign communications agencies, this regulation opens an opportunity to get ahead of an emerging market with high regional growth potential.
According to estimates by consultancy firm Fortune Business Insights, the global tokenization market could expand from USD 3.95 billion in 2025 to over USD 12.8 billion in 2032, driven by the digitalization of real estate, financial, and productive assets.
This projection is complemented by data from the blockchain ecosystem that foresee a volume exceeding USD 390 billion in tokenized assets by 2032, as more countries implement clear and secure regulatory frameworks.
A new financial hub with Latin American DNA
In this context, Argentina aims not only to accompany this trend but also to attract investment projects, international partnerships, and fintech platforms interested in leveraging the local regulatory sandbox.
The possibility of issuing tokens backed by real assets with official recognition and CNV oversight represents a key differentiator compared to other Latin American markets that are still in early regulatory stages.
With this initiative, the country seeks to establish itself as a regional hub for financial innovation, fostering the development of new investment vehicles and facilitating the inclusion of retail and institutional investors in segments that, until now, have presented high barriers to entry.
The approval of this framework marks a milestone in the development of Argentina’s capital markets and lays the foundation for a more agile and transparent ecosystem. For companies, fintechs, and international funds, the new framework represents a gateway to transactions backed by real assets, with the efficiency and traceability enabled by emerging technologies.
Communicating means producing: opportunities and challenges
Assets tokenization is not merely a technological trend—it also represents a phenomenon that challenges economic journalism and the work of risk analysis, compliance, and strategy teams.
In a context of high macroeconomic volatility and growing financial digitalization, the CNV’s decision aims to send a signal of predictability and innovation.
The possibility for physical assets to be converted into digital representations validated by the regulator introduces a key layer of trust, especially in a country where cycles of uncertainty often erode the credibility of new investment instruments.
The challenges are multiple. From an operational perspective, issuers and investors will need to adapt to a custody and traceability architecture that requires specific technical capabilities.
This includes ensuring the interoperability of blockchain platforms with traditional records, auditing the integrity of smart contracts, and guaranteeing that each token accurately reflects the existence and valuation of the underlying assets.
At the same time, the CNV faces the challenge of supervising this ecosystem with human and technological resources that match its complexity.
A reference for other Latin American countries
Among international consultancies, law firms, and investment funds, Argentina’s regulation is seen as a controlled trial of a hybrid regulatory model.
Several analysts maintain that this sandbox could serve as a reference for other Latin American countries considering the creation of state-supervised tokenization schemes.
Argentina’s experience will be closely watched by multilateral organizations, venture capital firms, and specialized media seeking to understand its real impact on financial inclusion and the development of new investment vehicles.
For economic media and communications agencies, the key will be to clearly explain what it means to tokenize real assets, why it can change the rules of the game, and how investors can manage the associated risks.
The convergence between traditional financial language and the blockchain ecosystem opens a field of analysis and coverage with international projection.
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