Argentina to Allow Banks Crypto Services in 2026

Argentina's central bank is preparing to lift a longstanding ban on financial institutions offering cryptocurrency services, a move set to take effect in April 2026 that could integrate digital assets more deeply into the nation's economy.

The Banco Central de la República Argentina, or BCRA, is drafting new regulations to allow banks to provide services such as trading and custody of cryptocurrencies to their clients. This policy shift ends a prohibition imposed in May 2022, when the central bank restricted banks from facilitating crypto operations due to concerns over financial risks and money laundering. Sources close to the BCRA indicate that the rules will require banks to adhere to stringent know-your-customer and anti-money laundering standards, as well as oversight from the National Securities Commission. Approved digital assets under the framework are expected to include major cryptocurrencies like Bitcoin, Ethereum, and stablecoins such as USDC and USDT, with operations conducted through segregated units to ensure compliance and liquidity.

The change reflects a broader pivot in Argentina's financial approach following the 2023 election of President Javier Milei, whose...