- A new system will allow trading, custody, and approval of cryptocurrencies.
- Banks must strictly comply with KYC, AML and CNV regulations.
- High inflation has driven people toward Bitcoin and stablecoins.
Argentina is preparing for significant changes 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 notable shift for a country where cryptocurrencies have become a daily tool for people managing inflation. It reflects broader efforts to bring informal crypto activity into regulated channels rather than leaving it to unofficial platforms.
The change is still under consideration, but internal planning indicates Argentina wants its banking system to play a formal role in providing access to cryptocurrencies, custody services, and compliance oversight.
Banks and crypto rules evolve
The Central Bank of Argentina (Banco Central de la República Argentina) restricted banks from dealing with cryptocurrencies in May 2022.
The regulation aimed to limit financial risks and prevent money laundering during a period of economic instability.
That policy is now at the center of a broader reassessment of 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 public conversation. His administration promotes greater financial freedom, arguing that people should be able to choose among different forms of money, including Bitcoin.
That political shift has influenced regulators’ approach to the existing ban and accelerated work on a new framework.
New framework proposals emerge
Reports indicate the central bank is designing a system that would allow banks to integrate cryptocurrency into their services.
The plan envisions trading access, custody options, and a list of approved coins limited to assets such as BTC, ETH, USDC, USDT and XRP.
Banks would be required to follow strict CNV rules, implement enhanced KYC and AML procedures, and channel crypto activities through legally separate units subject to additional capital, security and liquidity requirements.
This approach marks a shift from an outright ban to controlled participation.
Argentina would become one of the first high-inflation economies to regulate cryptocurrencies within mainstream banking industries instead of leaving them to informal platforms.
The change is also intended to close regulatory gaps and increase transparency around transactions that citizens already rely on to protect their savings.
Inflationary pressure fuels demand
Crypto adoption in Argentina has surged over the past three years as households search for ways to preserve value.
Inflation reached 1,427% in 2023 and continues to rise by more than 2% monthly, prompting people to turn to Bitcoin and dollar-pegged stablecoins to manage daily expenses, store wealth and avoid the peso’s 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 oversight.
It would also establish more structured relationships between digital assets and traditional banks during periods of economic stress.
Timeline points to 2026
Although approval is not final, experts suggest updated rules could be ready around April 2026, and technical work on the framework has already begun.
If enacted, Argentina could become a key example of how a country facing extreme inflation integrates cryptocurrency into traditional financial channels while aiming to increase transparency and consumer protection.