- A new framework would enable trading, custody, and approved coins.
- Banks would be required to follow strict KYC, AML, and CNV regulations.
- High inflation has driven people toward Bitcoin and stablecoins.
Argentina is preparing for a major shift in how its financial system treats digital assets, with regulators developing a plan that could allow banks to offer Bitcoin and other cryptocurrency 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 inflation, and signals a broader effort to bring informal crypto activity into regulated channels.
The change is still under review, but internal planning indicates Argentina wants its banking system to play a formal role in access to cryptocurrencies, their custody, and regulatory compliance.
Banks and crypto rules evolve
The Central Bank of the Argentine Republic (Banco Central de la República Argentina) has restricted banks from processing cryptocurrencies since May 2022.
The regulation was designed to limit financial risks and prevent money laundering during a period of economic instability.
That policy is now the focus of a broader reassessment of how digital assets fit into a financial system struggling with persistent inflation and growing demand for stable alternatives.
Since December 2023, the arrival of President Javier Milei has changed the tone of the discussion.
His administration supports financial freedom and argues that people should be able to choose different forms of money, including Bitcoin.
That shift has influenced how regulators approach the existing ban and accelerated work on a new framework.
New framework plans emerge
Reports indicate the central bank is developing a system that would allow banks to integrate cryptocurrencies into their services.
The plan includes trading access, 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 activities through legally separate units with additional capital, security, and liquidity requirements.
This approach marks a shift from an outright ban to controlled participation.
Argentina would be one of the first inflation-hit economies to regulate crypto within mainstream banking rather than leaving it to informal platforms.
The change also aims to close regulatory gaps and improve transaction transparency for assets citizens already rely on to protect their savings.
Inflationary pressures drive demand
Crypto adoption in Argentina has risen rapidly 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 to manage daily expenses, store funds, and avoid 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.
At the same time, it would establish a more structured relationship between digital assets and traditional banks during a period of economic stress.
Timeline points toward 2026
Although approval is not final, experts suggest updated rules could be ready around April 2026, and technical work is already underway.
If the proposal moves forward, Argentina could become a leading example of how a country facing extreme inflation integrates cryptocurrencies into conventional financial channels.