Since 0.9.2's release, many users, mainly those who live in Brazil, have had problems running the VM version of PCSX2. After trialing this fix on the forum for the past 6 or so months, I figured it was about time we put it on the site!

So if any of you guys have enabled the permissions, logged out, then back in to find it still doesn't work, this should be your salvation!

Users with Athlon XP processors or any chip without SSE2 support, this isn't your problem. VM requires SSE2 to function correctly which is why you are getting crashes.

You can download the fix from here
If you still have problems check this thread