Argentina weighs letting traditional banks trade crypto: Report

Argentina's central bank, the Banco Central de la República Argentina (BCRA), is reportedly considering lifting its ban on traditional financial institutions offering cryptocurrency trading services, according to a report from La Nacion citing sources close to the organization. This potential shift would reverse a restrictive stance implemented in May 2022, when the BCRA banned institutions due to perceived risks to users and the financial system. While new rules are reportedly being drafted, their finalization timeline is unclear, though some industry representatives suggest approval could come as early as April 2026. This consideration aligns with recent regulatory moves, including the finalization of rules for virtual asset service providers and approvals for major exchanges like Coinbase, Binance, and Bybit to operate in the country. Argentina has seen booming crypto adoption, driven by high inflation and the weakness of the peso, leading it to become a major hub for crypto inflows in Latin America.

(Source：Cointelegraph)