Argentina To Lift 3-Year Crypto Ban as Central Bank Allows Banks to Offer Bitcoin Services

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Argentina, a nation where people use crypto as a daily tool to survive inflation, is considering lifting its 3-year ban on banks’ crypto activities, allowing trading and custody under a new regulatory framework. 

If approved, Argentina’s central banks would finally be allowed to let customers buy, sell, and even store cryptocurrencies directly from their banking apps.

Since May 2022, Argentina’s central bank, the Banco Central de la República Argentina (BCRA), has maintained strict regulations prohibiting traditional banks from dealing with crypto. The goal was to reduce money-laundering risks and avoid financial instability.

But under President Javier Milei, a known Bitcoin supporter, the country is rethinking that approach.

Since taking office in December 2023, President Milei has pushed for more financial freedom and believes people should be free to use different currencies, including Bitcoin, without heavy government controls.