Argentina’s Central Bank Considers Lifting Ban on Crypto Services
Key Takeaways
- Argentina’s central bank is planning to lift bans on various crypto services, including trading and custody services.
- Argentinian local medias report that the central bank is closely examining the possibility of issuing new rules to allow banks to enter the crypto sector.
- The entry of banks into the crypto sector enhances customer protection and strengthens investor trust.
- The change of rules allows crypto to play a substantial role in Argentina’s Financial infrastructure, making the country one of the most regulated crypto markets in Latin America.
Argentina’s Central Bank (BCRA) is considering allowing traditional banks to offer cryptocurrency services, including trading and custody. The authority is reviewing the plans to lift the bans to formalize and popularize the use of crypto and stablecoins in Argentina. According to the latest information, a regulation is being drafted on this subject, though further details and a specific timeframe have not yet been disclosed.
For several years, BCRA had banned traditional financial institutions like banks and payment companies from providing crypto-related services in Argentina. According to their regulatory compliance, no bank could legally let you buy, sell, and custody crypto, citing that crypto was seen as risky, highly volatile, and vulnerable to online attacks. While restricting the offering of cryptocurrency services, the BCRA also expressed concerns about money laundering and other illicit uses of cryptocurrency.
Argentinian local media La Nación reported on Monday that Argentina’s Central Bank (BCRA) is considering allowing traditional banks to trade cryptocurrencies. Experts noted that the measure could significantly boost the adoption of digital assets among Argentinians. A cryptocurrency exchange operating in the country further claimed that the proposal may be approved as early as April 2026. Allowing banks into the crypto sector will increase customer protection, formalize the crypto economy, strengthen investor trust, and empower KYC/AML controls. After the formal decision to lift the restrictions, Argentina will become one of the most regulated crypto markets in Latin America.
The policy reformation is not based on economic reality and hype; Argentina has been one of the countries with a large-scale use of cryptocurrency. Inflation and limited access to the U.S dollar forced people to move into digital assets like Bitcoin and various stablecoins. Wu Blockchain responded to the news and commented that the move marked a shift from prohibition to oversight, aiming to bring BTC and stablecoin use into compliance and strengthen KYC/AML. They added that, if approved, banks could compete with local exchanges, which might lower fees but would also require new capital and liquidity safeguards.
The Move Could Generate A New Wave Of Mass Adoption, Says The President Of The Ngo Bitcoin Argentina
Manuel Ferrari, the president of the NGO Bitcoin Argentina and co-founder of Money On Chain, has commented that the lifting of bans will offer easy access to Bitcoin and stablecoins, and it could generate a new wave of mass adoption in the cryptocurrency sector. According to him, the initiative from the BCRA is likely to attract many people who never took the first step into this sector and approached these technologies from familiar environments.
Manuel Ferrari also said that the Argentine banking system had decades of very rigid and restrictive regulation, and that the final impact would depend on whether the opening was carried out with a modern vision or if it repeated historical limitations. He added that if banks such as Galicia, Santander, or Nación began to offer easy access to Bitcoin or stablecoins, it could generate a new wave of mass adoption.
Cryptocurrency exchanges operating in Argentina have already started to celebrate the news. Bitso has been Latin America’s leading crypto-powered financial platform for a decade; Julián Colombo, Bitso’s director for South America, said that it would encourage many more people to invest in crypto, given the ease and confidence of doing so through their bank. Carolina Gama, Bitget’s country manager in Argentina, also commented on the news. She noted that the participation of established financial institutions typically increased public confidence and drove cryptocurrency adoption.
Argentina’s crypto community has already embraced the news, and they believe that crypto in Argentina is finally getting some respect from regulators instead of being pushed underground. Some others think that banks entering the crypto space could shake things up.
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