The Central Bank of Argentina (BCRA) is considering lifting the cryptocurrency ban on banks and allowing them to provide account holders with services related to digital assets, according to Argentine newspaper La Nación.
The new rules for banks could be ready in April 2026, La Nación reported, citing sources close to the BCRA.
The central bank issued a law prohibiting banks from carrying out or facilitating operations for their clients with cryptocurrencies; However, after Javier Milei assumed the presidency in 2023, financial authorities have pivoted toward a more cryptocurrency-friendly stance.
The move is expected to further increase adoption in Argentina, a country that Chainalysys says is a global leader in popular cryptocurrency adoption, driven primarily by an economic crisis caused by triple-digit inflation, strict capital controls, and a fundamental distrust of the local peso. Chainalysis noted that Argentina ranked 15th among active crypto wallet users with 10 million.
Between July 2023 and June 2024, the country is estimated to have received $91 billion in on-chain transaction volume, making it the most active crypto market in Latin America. More than 60% of this activity involved stablecoins (such as USDT), which Argentines use as a crucial mechanism to dollarize their savings and protect their purchasing power against currency devaluation, the report adds.
In Latin America, Brazil has the most explicit and comprehensive laws that allow and regulate commercial banks to provide crypto services. Panama is permissive but lacks a central bank-driven framework. While becoming the first country in the world to make bitcoin legal tender nationwide in 2021, El Salvador recently (August 2025) implemented a new banking law for private banks to offer digital asset services exclusively to high net worth investors.
UPDATE (December 8, 15:35 UTC): Eliminates description of La Nación as “conservative.”
