"CSP for this implementation could not be acquired" CryptographicException error during instantiation

RSACryptoServiceProvider.UseMachineKeyStore = true;

CspParameters CSPParam = new CspParameters();
CSPParam.Flags = CspProviderFlags.UseMachineKeyStore;
RSACryptoServiceProvider rsa = new RSACryptoServiceProvider(CSPParam);
				

using System;
using System.Xml;
using System.IO;
using System.Text;
using System.Security.Cryptography;
using System.Security.Cryptography.Xml;

namespace XmlSample
{
    public class XmlDigitalSigning
    {
        public enum SigType 
        {
            Detached = 1,
            Enveloping = 2,
            Enveloped = 3
        }
 
        public SignedXml Sign(String Uri, RSACryptoServiceProvider rsa, SigType type)
        {
            // Create the SignedXml message.
            SignedXml xmlSign = new SignedXml();
            // Set the RSA key for signing.
            xmlSign.SigningKey = rsa;

            // Create a Reference to point to the to-be-signed content.
            Reference reference = new Reference();

            if (type == SigType.Detached)
            {
                reference.Uri = Uri;
            }
            else if (type == SigType.Enveloping)
            {
                XmlDocument doc = new XmlDocument();
                DataObject obj = new DataObject();
                doc.Load(Uri);
                obj.Data = doc.ChildNodes;
                obj.Id = "MyObjectId";
                reference.Uri = "#" + "MyObjectId";
                xmlSign.AddObject(obj);
            }

            // Add the Reference to the SignedXml message.
            xmlSign.AddReference(reference);
            // Add a KeyInfo element to the SignedXml message.
            KeyInfo keyInfo = new KeyInfo();
            keyInfo.AddClause(new RSAKeyValue((RSA)rsa));
            xmlSign.KeyInfo = keyInfo;

            // Compute the XML Digital Signature.
            xmlSign.ComputeSignature();
            return xmlSign;
        }

        public bool Verify(String signedxmlFile)
        {
            bool bResult = false;
        
            FileStream inputStream = new FileStream(signedxmlFile, FileMode.Open);
        
            // Load the XML.
            XmlDocument doc = new XmlDocument();
            XmlTextReader xtr = new XmlTextReader(inputStream);
            doc.Load(xtr);

            // Get RSAKeyValue Element from the signed XML.
            SignedXml signedXml = new SignedXml();
            XmlNodeList rsaKeyValueNodes = doc.GetElementsByTagName("RSAKeyValue");
            XmlElement rsaKeyValueElement = (XmlElement) rsaKeyValueNodes.Item(0);
            String rsaKeyValueString = rsaKeyValueElement.OuterXml;

            // Remove the KeyInfo node from the SignedXml signature.
            XmlNodeList KeyInfoNode = doc.GetElementsByTagName("KeyInfo");
            XmlElement keyInfoElement = (XmlElement) KeyInfoNode.Item(0);
            XmlElement signatureElement = (XmlElement) keyInfoElement.ParentNode;
            // Console.WriteLine("****");
            // Console.WriteLine(keyInfoElement.OuterXml);
            // Console.WriteLine("****");
            // Console.WriteLine(signatureElement.OuterXml);
            // Console.WriteLine("****");
            signatureElement.RemoveChild(keyInfoElement);
            // Console.WriteLine(doc.DocumentElement.OuterXml);
            // Console.WriteLine("****");

            // Use machine key store.
            CspParameters cspParams = new CspParameters();
            cspParams.Flags = CspProviderFlags.UseMachineKeyStore;
            RSACryptoServiceProvider rsaKey = new RSACryptoServiceProvider(cspParams);
            rsaKey.FromXmlString(rsaKeyValueString);

            // Set the keyInfo.
            KeyInfo keyInfo = new KeyInfo();
            keyInfo.AddClause(new RSAKeyValue(rsaKey));
            signedXml.KeyInfo = keyInfo;

            // Load the signature.
            signedXml.LoadXml(doc.DocumentElement);

            AsymmetricAlgorithm key;
            if (signedXml.CheckSignatureReturningKey(out key)) 
            {
                bResult = true;
            } 
            else 
            {
                bResult = false;
            }
        
            return bResult;
        }
    }
    class XmlSampleCode
    {
        static void Main(string[] args)
        {
            int nArgs;

            // args[1] - XML file to be signed
            nArgs = args.Length;
            if (nArgs < 1)
            {
                Environment.Exit(-1);
            }
            for (int i = 0; i < nArgs; i++)
            {
                Console.WriteLine("Args[{0}] = {1}", i, args[i]);
            }
            try
            {
               CspParameters cspParams = new CspParameters();
               cspParams.Flags = CspProviderFlags.UseMachineKeyStore;
               RSACryptoServiceProvider rsa = new RSACryptoServiceProvider(cspParams);

                XmlDocument xmlOutput = new XmlDocument();
                XmlDigitalSigning digSign = new XmlDigitalSigning();
                SignedXml xmlSign;

                xmlSign = digSign.Sign(args[0], rsa, XmlDigitalSigning.SigType.Enveloping);
                XmlTextWriter xmltw = new XmlTextWriter("EnvelopingSig.xml", new UTF8Encoding(false));
                xmltw.Formatting = Formatting.Indented;
                xmlOutput.InnerXml = xmlSign.GetXml().OuterXml;
                xmlOutput.WriteTo(xmltw);
                xmltw.Flush();
                xmltw.Close();

                if (digSign.Verify("EnvelopingSig.xml"))
                {
                    Console.WriteLine("Signature has been verified successfully");
                }
                else
                {
                    Console.WriteLine("Signature verification failed");
                }
            }
            catch (Exception e)
            {
                Console.WriteLine("\nException Information : \n\n{0}", e.ToString());
            }
            return;
        }
    }
}