- A new framework would permit trading, custody, and approved coins.
- Banks would be required to comply with strict KYC, AML, and securities regulator rules.
- High inflation has driven people toward Bitcoin and stablecoins.
Argentina is preparing a major shift in how its financial system treats digital assets. Regulators are developing a plan that could allow banks to offer Bitcoin and other crypto services for the first time in three years.
This move represents a significant change in a country where cryptocurrencies have become a daily tool for people trying to cope with runaway inflation, and it reflects a broader effort to bring informal crypto activity into regulated channels.
The proposal remains under review, but internal planning indicates Argentina wants its banking sector to play a formal role in access, custody, and regulatory compliance for cryptocurrencies.
Banks and crypto rules are evolving
The Central Bank of the Argentine Republic (Banco Central de la República Argentina) has restricted banks from handling cryptocurrencies since May 2022.
The restriction was introduced to contain financial risks and prevent money laundering during a period of economic instability.
That policy is now being reconsidered as authorities reassess how digital assets fit into a financial system grappling with persistent inflation and growing demand for stable alternatives.
Since December 2023, the arrival of President Javier Milei has shifted the national conversation.
His administration has promoted financial freedom, arguing that people should be able to choose different forms of money, including Bitcoin.
That stance has influenced regulators’ approach to the existing ban and accelerated work on a new regulatory framework.
New framework plans take shape
Reports indicate the central bank is crafting a system that would allow banks to integrate cryptocurrencies into their service offerings.
The proposal includes access to trading, custody options, and a whitelist of approved coins limited to assets such as BTC, ETH, USDC, USDT, and XRP.
Banks would need to follow stringent rules set by the securities regulator (CNV), implement enhanced KYC and AML procedures, and operate crypto activities through legally separate units with additional capital, security, and liquidity requirements.
The approach represents a transition from a prohibition to a controlled, regulated participation.
Argentina would be among the first highly inflationary economies to regulate crypto within traditional banks rather than leaving those services to informal platforms.
The change also aims to close regulatory gaps and improve transparency around the transactions that citizens already rely on to protect their savings.
Inflation pressures drive demand
Crypto adoption has surged in Argentina over the past three years as households seek ways to preserve value.
With inflation reaching 1,427% in 2023 and continuing to rise more than 2% each month, many people have turned to Bitcoin and dollar-pegged stablecoins to manage daily expenses, store wealth, and avoid exposure to peso depreciation.
Regulators now want that activity to operate under formal safeguards.
Allowing banks to support crypto services would create a safer environment, reduce reliance on unregulated exchanges, and help authorities strengthen financial monitoring.
It would also establish a more structured relationship between digital assets and traditional banks during a period of economic stress.
Timeline points toward 2026
While approval is not final, experts indicate the updated rules could be ready around April 2026, and technical work on the framework has already begun.
If implemented, Argentina could become a notable example of how a country facing extreme inflation integrates cryptocurrencies into conventional financial channels.