- A new regulatory framework would allow trading, custody and approved coins.
- Banks would be required to follow strict KYC, AML and CNV rules.
- High inflation has driven people to choose Bitcoin and stablecoins.
Argentina is preparing a major shift in how its financial system treats digital assets. Regulators are working on a plan that could allow banks to offer Bitcoin and other crypto services for the first time in three years.
The move marks a notable change for a country where crypto has become an everyday tool for people trying to cope with inflation. It also signals a broader effort to bring informal crypto activity into regulated channels.
The proposal remains under review, but internal planning indicates Argentina wants its banking system to play a formal role in the custody, trading and compliance of crypto assets.
Banks and crypto rules evolve
Since May 2022, the Central Bank of the Argentine Republic has restricted banks from dealing in cryptocurrencies.
The regulation was introduced to limit financial risks and prevent money laundering during a period of economic instability.
That policy is now the focus of a wider reconsideration about how digital assets fit into a financial system grappling with persistent inflation and rising demand for stable alternatives.
Since December 2023, the arrival of President Javier Milei has reshaped the conversation.
His administration has promoted economic freedom and argued that people should be free to choose different forms of money, including Bitcoin.
That shift has affected how regulators approach the current ban and accelerated work on a new framework.
New framework plans take shape
Reports indicate the central bank is developing a system that would allow banks to integrate crypto into their services.
The plan would include trading facilities, custody options and a list of approved coins, limited to assets such as BTC, ETH, USDC, USDT and XRP.
Banks would need to comply with strict CNV rules, implement enhanced KYC and AML procedures, and operate crypto business through legally separate entities subject to additional capital, security and liquidity requirements.
The approach represents a shift from prohibition toward controlled participation.
Argentina would be among the first severely inflationary economies to regulate crypto within mainstream banking rather than leave it to informal platforms.
The change also aims to close regulatory gaps and improve transparency around transactions that citizens already rely on to protect their savings.
Inflation pressure drives demand
Crypto use has grown rapidly 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 by more than 2% each month, people have turned to Bitcoin and dollar-pegged stablecoins for everyday spending, savings and to avoid exposure to peso depreciation.
Regulators now want that activity to take place under formal safeguards.
Allowing banks to support crypto services would create a safer environment, reduce reliance on unregulated exchanges and help authorities strengthen financial oversight.
It would also establish a more structured relationship between digital assets and traditional banks during a period of economic strain.
Timeline points to 2026
Although approval is not final, experts suggest the updated rules could be in place around April 2026. Technical work on the infrastructure is already underway.
If the proposal moves forward, Argentina could become a key example of how a country facing extreme inflation integrates crypto into conventional financial channels.