Argentina’s government has drafted a deregulation bill that would let investment funds hold bitcoin and other digital assets, use crypto as loan collateral, and issue securities directly on a blockchain. The draft, prepared by Deregulation Minister Federico Sturzenegger and first reported on July 23, still needs President Javier Milei’s signature before it reaches Congress. If it passes, it would rewrite decades-old capital market rules and could open demand for billions of dollars in digital assets, according to early estimates cited in local media. Tokenization is the process of issuing a traditional asset, such as a stock or bond, as a digital token that can be traded and settled on a blockchain. The bill would apply that model to Argentina’s entire securities market.
Key takeaways
- An Argentine deregulation draft would allow investment funds to buy digital assets, subject to rules the securities regulator must still approve.
- The bill approves full tokenization of negotiable securities, covering issuance, custody, transfer, and sale on decentralized networks.
- Bitcoin and other digital assets could be pledged as loan collateral for the first time under national law.
- Smart contracts would gain full legal recognition, letting mortgages, rentals, and foreclosures execute automatically.
Published: July 24, 2026, 09:00 UTC
What the deregulation bill proposes
The draft would allow investment funds to put money into digital assets when doing so fits the fund’s stated investment policy. That single change could open demand for billions in crypto, according to estimates cited by Argentine outlet Clarin. The country’s National Securities Commission, known as the CNV, would still need to approve the specific rules governing which assets qualify.
“Today, crypto-assets are investment assets; it is a good thing to allow funds to invest in them, subject, of course, to regulations that the CNV must approve,” an unnamed source told Clarin. “It is not a case of just anyone going out to buy Bitcoin, nor is it just any crypto-asset.”
The bill also approves tokenization of all negotiable securities, including their issuance, custody, transfer, and sale using decentralized technologies. Under the draft, the Central Bank would exclusively regulate the registration and transfer infrastructure for cryptocurrencies and tokenized assets, while the CNV limits its review of funds to legality and technical solvency. The approach echoes moves elsewhere, such as Japan’s push to tokenize listed stocks.
Why it matters for funds and lenders
Argentina has one of the highest crypto adoption rates in Latin America, driven by years of inflation and currency controls. Letting regulated funds buy digital assets would give domestic and foreign investors a compliant route into a market many already use informally.
The collateral provision may prove just as consequential. Under the draft, loans could be secured with bitcoin and other digital assets, connecting the traditional lending system to crypto holders whose net worth sits mostly on-chain. That closes a gap for borrowers who hold wealth in tokens but struggle to access bank credit.
The bill fits a wider deregulatory agenda under Milei. His administration earlier exempted registered crypto exchanges from Argentina’s cheque tax, and the CNV already recognizes cryptocurrencies as part of a qualified investor’s net worth. The new draft extends that direction into the core of the capital markets, a sharper stance than the tax fights playing out in places like Illinois.
Smart contracts get legal force
A smart contract is self-executing code on a blockchain that carries out an agreement automatically once its conditions are met. The draft grants these contracts full legal recognition, meaning rental agreements and mortgages could be issued directly on-chain.
The practical effect goes further. Redemptions, automatic payments, and even foreclosures could occur without a judge’s ruling, because the smart contract would trigger those steps on its own. That prospect will draw scrutiny from consumer advocates and courts, since it shifts enforcement from the judicial system to code.
The document remains a draft and could change before Milei signs it or sends it to Congress. Lawmakers still have to weigh in, and the CNV must write the detailed rules that decide how far funds and lenders can actually go. For now, the text signals intent: Argentina wants decentralized technology at the center of how its markets raise, move, and settle capital. Full details appear in the original report.
Frequently asked questions
What would Argentina’s deregulation bill change for crypto?
It would let regulated investment funds hold digital assets, permit bitcoin as loan collateral, allow securities to be tokenized on a blockchain, and give smart contracts full legal recognition. The securities regulator, the CNV, must still approve detailed rules.
Is the bill already law?
No. It is an early draft prepared by Deregulation Minister Federico Sturzenegger. It needs President Javier Milei’s signature and then approval by Congress before any provision takes effect, and the text could change first.
Who would regulate tokenized assets?
Under the draft, Argentina’s Central Bank would oversee the registration and transfer infrastructure for crypto and tokenized assets, while the CNV would limit its review of investment funds to legality and technical solvency.
