The Central Bank of Argentina (BCRA) is considering the possibility of lifting the cryptocurrency ban on banks, allowing them to offer digital asset services to their clients, as reported by the Argentine newspaper, La Nacion.
According to La Nacion, the revised regulations for banks may be finalized by April 2026, based on information from sources connected to the BCRA.
Previously, the central bank established a law banning banks from engaging in or facilitating cryptocurrency transactions for their customers. However, with Javier Milei taking office in 2023, financial authorities have shifted towards a more welcoming approach to cryptocurrency.
This new measure is anticipated to further enhance cryptocurrency adoption in Argentina, a country that, according to Chainalysis, holds a leading position in grassroots cryptocurrency adoption, primarily due to an economic crisis characterized by triple-digit inflation, stringent capital controls, and a deep-seated skepticism towards the local peso. Chainalysis highlighted that Argentina ranks 15th in the world for active cryptocurrency wallet users, with a total of 10 million.
From July 2023 to June 2024, Argentina is projected to have processed $91 billion in on-chain transaction volume, making it the most active crypto market in Latin America. Notably, over 60% of this activity involved stablecoins (such as USDT), which Argentines utilize as a vital means to dollarize their savings and safeguard their purchasing power against currency devaluation, the report notes.
In Latin America, only Brazil has established explicit and comprehensive legislation that allows and regulates commercial banks to offer cryptocurrency services. Panama is permissive but lacks a framework guided by a central bank. El Salvador, having made bitcoin legal tender nationwide in 2021, recently (August 2025) introduced a new banking law allowing private banks to exclusively provide digital asset services to high-net-worth individuals.
