Argentina’s SAB121—Central Bank Close to Lifting TradFi Crypto Ban

Argentina's central bank (BCRA) is reportedly drafting new regulations to ease restrictions that currently prohibit financial institutions from offering crypto operations or custody services, a move reminiscent of the U.S. SEC's repeal of Staff Accounting Bulletin 121 (SAB121). The previous restrictive measure, Communication A7506 from 2022, was issued under a different administration, but the current leadership under President Javier Milei favors embracing new financial technologies. The anticipated change in Argentina follows the U.S. repeal of SAB121, which required banks to list customer digital assets as liabilities, leading major Wall Street firms like Citi and State Street to prepare crypto custody services. Banks globally are increasingly integrating digital assets, and Argentina's potential move could significantly boost institutional crypto adoption there.

(Source：CCN)