Argentina Tightens Crypto Crime Grip with New Protocols

Argentina has recently introduced new protocols to combat crypto crimes, aiming to strengthen its security forces' capabilities in handling digital assets and investigating fraud, money laundering, and other criminal activities involving cryptocurrencies. The Ministry of National Security has created a General Protocol of Action for Cryptoasset Identification and Seizure, which will be implemented by the Federal Police and Security Forces across the country.

The new protocols, published in the Official Gazette, are a response to the increasing use of digital assets in criminal activities. They provide law enforcement with superior capabilities to track and oversee cryptocurrency-related evidence, enabling them to investigate organized crime, money laundering, and fraud more effectively. Security forces are now required to follow established procedures for every action involving cryptoassets, ensuring the proper identification, seizure, and preservation of digital assets discovered during search operations and raids.

The new regulation is a collaborative effort between the Cybercrime and Cyber Affairs Directorate of the Ministry of Security, experts from the Federal Police, and members of the Public Prosecutor’s Office of the Nation. The United Nations Office on Drugs and Crime (UNODC) also provided support in the development of the protocol. The guidelines aim to protect national security while promoting innovation in the financial sector, addressing the dual nature of digital currencies as both a monetary tool and a potential means for criminal activities such as money laundering, fraud, and terrorist financing.

The implemented measures provide law enforcement officers with specific operational guidelines to protect digital assets and prevent their fraudulent use by criminals. Argentina is taking significant steps towards safeguarding its financial system by adopting this new anti-crypto crime protocol, demonstrating its commitment to combating digital financial crimes and ensuring financial security.