Regulatory Glossary

Virtual Asset: Digital representation of value used for payments or investments (Law No. 27,739).

PSAV (Virtual Asset Service Provider): Natural or legal person that provides exchange, transfer, custody, or financial services related to virtual assets.

Cryptocurrency: Asset with its own blockchain used as a means of payment or exchange.

Stablecoin: Private cryptoasset designed to maintain a stable value in relation to a fiat asset or another good.

Utility Token: Token that allows access to products or services.

Asset Token / Token of Assets: Represents assets or credit rights.

Commodity Token: Token backed by physical commodities that grants rights to ownership or physical redemption.

Negotiable Security: Homogeneous and fungible instrument, issued in series and capable of being traded in financial markets (Law No. 26,831).

Public Offering: Generalized invitation to carry out legal acts involving negotiable securities.

Private Offering: Offering of negotiable securities that meets specific requirements under CNV General Resolution 1016.

Tokenization: Digital representation of already existing negotiable securities under CNV General Resolution 1081.

Financial Intermediation: Regulated activity involving intermediation between the supply and demand of financial resources (Law No. 21,526).