Argentina’s Central Bank to Permit Banks to Offer Crypto Services Starting in 2026

Argentina’s Central Bank— Banco Central de la República Argentina, or BCRA is actively drafting new regulations to lift a three-year ban on banks providing cryptocurrency services, with implementation targeted for as early as April 2026.

This move represents a significant policy shift toward greater integration of digital assets into the traditional banking system, driven by the country’s ongoing economic challenges, including hyperinflation exceeding 270% and strict capital controls.

Under President Javier Milei, who assumed office in late 2023 and has publicly advocated for crypto-friendly reforms, regulators have pivoted from prohibition to structured oversight. Banks would be authorized to offer trading, custody, and related services for major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and XRP.

These services could be integrated directly into banking apps, making crypto more accessible to everyday users. To mitigate risks, banks must operate crypto services through separate legal units with enhanced capital reserves, liquidity requirements, and security protocols.

All activities will adhere to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) standards, aligned with guidelines from Argentina’s National Securities Commission (CNV). While not yet officially confirmed, sources close to the BCRA indicate that the rules could be finalized and take effect by April 2026.

Internal planning is already underway, building on 2024 regulations that required Virtual Asset Service Providers (VASPs) like exchanges to register with the CNV. Argentina ranks as a global leader in grassroots crypto adoption, processing $93.9 billion in transaction volume from July 2024 to June 2025 second in Latin America per Chainalysis.

Citizens have turned to crypto as a hedge against peso devaluation and inflation, often via informal channels. Formalizing bank involvement aims to enhance safety, improve tax compliance, reduce reliance on unregulated platforms, and boost liquidity.

This development positions Argentina as a potential model for other inflation-plagued economies blending traditional finance with digital assets. Local banks like BBVA Argentina, Banco Macro, and Grupo Financiero Galicia have expressed interest, potentially accelerating adoption among the country’s 20+ million banking customers.

However, challenges remain, including ensuring fair competition with existing crypto exchanges via equitable tax policies and finalizing technical integrations. Industry voices, such as those from local exchange Lemon, hail it as a “key driver for mass adoption,” while experts caution that success hinges on balanced taxation and risk management.

For comparison, Brazil already has comprehensive bank-crypto laws, and similar expansions are underway in the U.S. and Europe. The BCRA has not issued an official announcement, so timelines could shift, but the momentum reflects a clear pro-innovation stance under the current administration.

Argentina stands out as a global leader in cryptocurrency adoption, particularly in Latin America, where economic instability—marked by hyperinflation (around 85% annually in 2025), peso devaluation, and strict capital controls—has driven citizens to digital assets as a hedge and alternative to traditional finance.

Unlike wealthier nations where crypto is often speculative, in Argentina, it’s a practical tool for savings, remittances, and daily transactions. This grassroots momentum has positioned the country as a model for emerging markets, with adoption rates far exceeding global averages.

Approximately 19.8% of the population about 9.1 million people out of 46 million owns cryptocurrencies, making Argentina the top in Latin America ahead of Brazil (18.6%). Some surveys report up to 29.4% ownership in high-inflation contexts, though 19.8-22.8% is the consensus for active holders.

Around 10 million active crypto wallet users, ranking Argentina 15th globally. Daily users are estimated at 5 million, reflecting high engagement for remittances and payments. $93.9 billion in on-chain value received from July 2024 to June 2025, second in Latin America and contributing to the region’s $1.5 trillion total over three years.

This marks a 40% regional increase in transactions, with Argentina’s stable at high levels despite volatility. Earlier data showed $91 billion, indicating steady growth. 20th on Chainalysis’ 2025 Global Crypto Adoption Index, which weights grassroots usage by population and purchasing power parity. This reflects broad retail participation rather than institutional dominance.

61.8% of transactions involve stablecoins (e.g., USDT, USDC), far above the global 44.7% average, used for hedging inflation and cross-border payments. Over half of exchange purchases in Argentina are stablecoins, with retail-sized transfers (<$10,000) growing fastest.

With inflation eroding savings and capital controls limiting USD access, crypto offers dollar-pegged stability and borderless transfers. Remittances and freelance payments are key use cases, with platforms like Ripio and Lemon Cash enabling peso-crypto conversions at 6,000+ informal outlets.

Younger demographics and rising digital literacy amplify this, alongside President Milei’s pro-crypto stance, which has spurred regulatory easing like VASP registration under the CNV.

Barriers include regulatory uncertainty (e.g., potential 30% tax on undeclared assets) and security risks from informal channels, but 2025’s VASP rules align with FATF standards for AML/CFT. Trends point to institutional integration: Banks may offer services by April 2026, potentially onboarding 20M+ customers.

Latin America’s 15.2% average adoption up from prior years underscores Argentina’s influence, with stablecoins powering 70% of bot-driven transfers in AI/e-commerce. Overall, these stats highlight crypto’s role in financial inclusion, with projections for sustained 18-20% quarterly growth in ownership.