Argentina Central Bank to Permit Banks to Offer Crypto Services by 2026

TLDR

• Argentina Central Bank will permit banks to offer crypto services starting in April 2026, after lifting the current ban.
• The new policy aims to address economic challenges, including inflation and currency devaluation, by boosting crypto adoption.
• Argentina ranks 15th globally for active crypto wallet users, with over 10 million users and $91 billion in on-chain transactions.
• Over 60% of Argentina’s crypto transactions in 2023-2024 involved stablecoins, which protect against peso devaluation.
• Argentina is becoming the first major Latin American country to regulate banks offering cryptocurrency services.

The Argentina Central Bank is set to allow banks to offer cryptocurrency services starting in April 2026. This shift in policy follows Argentina’s economic struggles and is expected to boost crypto adoption. The change comes after the election of President Javier Milei, who supports a more crypto-friendly approach to finance.

Central Bank of Argentina to Lift Crypto Ban on Banks

The Central Bank of Argentina (BCRA) is drafting new rules to allow banks to provide digital asset services. According to a report by  La Nacion, these rules could come into effect by April 2026. The new policy will end the current ban, enabling banks to offer crypto-related services to their customers.

Under the previous regulations, banks were prohibited from facilitating cryptocurrency operations for their clients. However, President Milei’s election in 2023 marked a pivot towards a more open stance on cryptocurrencies. This policy shift aims to help the country adopt digital assets as a solution to economic challenges, such as inflation and currency devaluation.

Argentina Central Bank’s Crypto Adoption Strategy amid Inflation Crisis

Argentina has become a global leader in cryptocurrency adoption, driven by its economic crisis. The country’s triple-digit inflation and strict capital controls have led many Argentinians to use cryptocurrencies to preserve their savings. Over 60% of the on-chain transaction volume between July 2023 and June 2024 involved stablecoins like USDT, which help shield citizens from the devaluation of the Argentine peso.

According to Chainalysis, Argentina ranks 15th globally for active crypto wallet users, with over 10 million active users. The total on-chain transaction volume in the country during the same period reached $91 billion. This makes Argentina the most active crypto market in Latin America, showing the widespread demand for digital asset solutions.

Regional Crypto Regulations and Argentina Central Bank’s Shift

While Brazil leads the region in comprehensive crypto regulations, Argentina’s move marks a significant change. Argentina will be the first major Latin American economy to allow its central bank to regulate banks offering crypto services. Panama and El Salvador have more permissive regulations, but neither country has a central bank-driven framework for crypto services.

Other countries in the region are watching closely as Argentina Central Bank lays the groundwork for future regulatory changes. The Argentina Central Bank’s upcoming regulations could play a crucial role in shaping the future of cryptocurrency in Latin America.

The decision to allow banks to offer cryptocurrency services aligns with Argentina’s broader goal of adopting digital assets for economic stability. The policy change is expected to create new opportunities for financial innovation within the country.

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