Argentina Considers Allowing Banks to Trade Bitcoin, Potentially Expanding Crypto Adoption

• Argentina’s Central Bank is drafting rules to permit banks to offer crypto services, reversing prior prohibitions.

• Bank involvement may expand crypto access by utilizing established distribution channels and building user trust.

• According to industry estimates, daily crypto usage in Argentina is already six times the regional average, per data from Lemon exchange.

Discover how Argentina’s potential bank crypto trading rules could transform financial access. Explore adoption impacts and expert insights on bridging traditional finance with digital currencies today.

What is Argentina’s Plan to Allow Banks to Trade Cryptocurrencies?

Argentina’s Central Bank of the Argentine Republic (BCRA) is developing regulations that would enable traditional banks to engage in cryptocurrency trading, marking a significant policy evolution. This initiative aims to enhance accessibility to digital assets for millions of Argentinians through established banking infrastructure. By integrating crypto services, the measure seeks to foster financial innovation while maintaining regulatory oversight.

How Will Banks Implement Crypto Trading in Argentina?

To participate, banks must register as Providers of Virtual Asset Services (PSAVs) or collaborate with licensed crypto exchanges, as outlined by industry experts like Carlos Peralta from Bitso. This approach minimizes the need for banks to build extensive custody and tech systems from scratch. Supporting data from Lemon indicates that with over five million users already, banks could amplify crypto reach exponentially, potentially increasing daily transactions that are currently six times above the Latin American average.

Manuel Ferrari, President of Bitcoin Argentina, emphasizes the regulatory balance: “The final impact will depend on whether this opening adopts a modern vision or repeats historical limitations.” Sources within the BCRA note that discussions have persisted for years among regulators, bankers, and exchanges, reflecting a governmental push toward openness in digital finance. Julián Colombo from Bitso adds, “It would encourage more people to invest via their trusted banks, enhancing confidence.”

Frequently Asked Questions

What Challenges Might Banks Face in Offering Crypto Services in Argentina?

Banks in Argentina will need to navigate PSAV registration or partnerships with exchanges, alongside historical regulatory hurdles that previously halted services at institutions like Banco Galicia and Ualá. Experts stress the importance of fair taxation to ensure competitiveness, as unequal treatment has delayed broader adoption, per insights from Lemon and Bitso.

Could Crypto Trading by Banks Lead to Mass Adoption in Argentina?

Yes, allowing banks to trade cryptocurrencies could drive mass adoption by leveraging millions of existing accounts for seamless access to assets like Bitcoin and stablecoins. As Juan Pablo Fridenberg from Lemon notes, this fosters innovation and inclusion, with potential for daily crypto use to surge beyond its current high regional levels through trusted banking channels.

Key Takeaways

• Policy Shift: The BCRA’s proposed rules reverse past bans, enabling banks to trade crypto and integrate digital assets into mainstream finance.
• Adoption Boost: With banks like Galicia or Santander involved, access could multiply, building on Argentina’s already elevated crypto engagement per Lemon data.
• Implementation Focus: Success hinges on PSAV compliance, tech partnerships, and equitable taxation to avoid past pitfalls and promote innovation.

Conclusion

Argentina’s move to allow banks to trade cryptocurrencies represents a pivotal step toward financial modernization, blending traditional banking with digital assets for greater inclusion. By addressing implementation challenges and drawing on expert perspectives from figures like Manuel Ferrari and Juan Pablo Fridenberg, this policy could solidify Argentina’s position in global crypto adoption. Stay informed on these developments to navigate the evolving landscape of cryptocurrency trading in banking.

Argentina may let banks trade crypto, boosting everyday access, adoption, and bridging traditional finance with digital currencies nationwide.

Key Highlights

• Argentina, which previously prohibited banks from offering crypto, is now considering new rules to allow traditional banks to trade digital currencies.
• Bank involvement could multiply crypto access by leveraging millions of accounts and building public confidence in digital currencies nationwide.
• To offer services, banks will need to register as Providers of Virtual Asset Services (PSAVs) or partner with an already registered crypto exchange.

Argentina could soon open its banking system to cryptocurrencies, a shift in financial policy. The Central Bank (BCRA) is reportedly considering rules that would let traditional banks trade cryptocurrencies, potentially increasing access to digital assets for Argentinians.

The BCRA is currently drafting a regulation, though it has not confirmed a timeline. A cryptocurrency exchange in Argentina predicts possible approval by April 2026. The measure could also bridge the gap between conventional banking and crypto markets.

Sources close to the Central Bank reveal the idea has circulated for years among regulators, bankers, and exchanges. The government has long promoted a more open approach toward crypto use, signaling an appetite for financial innovation.

Banks could drive mass adoption

Experts highlight that allowing banks to trade cryptocurrencies would significantly expand adoption. Manuel Ferrari, President of Bitcoin Argentina, explained, “The Argentine banking system has decades of very rigid and restrictive regulation, and the final impact will depend on whether this opening is done with a modern vision or if it repeats historical limitations.”

Ferrari added, “Even so, the positive aspect is enormous: if banks like Galicia, Santander, or Nación begin to offer easy access to Bitcoin or stablecoins, it could generate a new wave of mass adoption.” Currently, daily crypto usage in Argentina is six times higher than the regional average, according to Lemon.

Other specialists point to the sheer scale of bank distribution channels. “Assuming all banks want to start offering crypto, they would have distribution channels authorized by the Central Bank of Argentina (BCRA) with millions of bank account numbers (CBU) in each one,” they said. Considering Lemon has about five million users, large banks could multiply crypto exposure several times over.

Exchanges welcome collaboration

Cryptocurrency exchanges operating in Argentina also support the initiative. Juan Pablo Fridenberg, Director of Public Affairs at Lemon, stated, “We believe that a more open financial ecosystem will be a key driver for the mass adoption of digital assets in Argentina, promoting innovation, expanding financial inclusion, and strengthening the country’s competitiveness.”

Similarly, Julián Colombo from Bitso noted, “It would encourage many more people to invest in crypto, given the ease and confidence of doing so through their bank.” Bitget’s country manager, Carolina Gama, added that participation from established financial institutions typically increases public confidence.

Banks themselves view crypto products as complementary, not competitive. A representative from a major private bank said, “We don’t consider crypto products as substitutes, but rather as complementary and necessary for the evolution of banking.” Consequently, a convergence between traditional finance and crypto appears likely.

Implementation challenges

Offering crypto services will require banks to register as PSAVs (Providers of Virtual Asset Services). Carlos Peralta from Bitso explained, “Banks would be required to open a company and register it as a PSAV, or partner with an already registered crypto exchange.” Most banks are expected to choose the latter, avoiding heavy investment in custody and technological infrastructure.

Historical attempts provide cautionary lessons. Banco Galicia, Brubank, and Ualá briefly offered crypto services but halted operations due to BCRA restrictions. Ferrari warned, “The initial implementations were rudimentary. Withdrawals, transfers, or deposits to other wallets were not possible.” Hence, regulation design and technology integration will determine success.

Industry insiders further stress that fair taxation is essential. According to Lemon and Peralta, exchanges must have equal tax treatment to avoid being at a competitive disadvantage; this is a key factor that has delayed large-scale adoption.

Beyond banks: Crypto in daily life

This might not end there, and the integration might extend beyond banking. State-owned YPF of Argentina is considering crypto settlements at its gas stations, after introducing dollar settlements. Settlements could use intermediaries such as Lemon, Ripio, or Binance-a system similar to the existing dollar transfer scheme using QR codes and exchange rates from Banco Nación.

This adoption showcases the wider effort by the government to include digital currencies in its financial architecture. These steps could fundamentally transform the outlook of Argentina’s financial industry. If banks start trading in cryptocurrencies, crypto can become more available in daily life. Its impact will depend on clear rules, practical technology, and fair taxes.

Also Read: Coinbase Returns to India After 2 Years Ahead of 2026 Fiat On-Ramp

Follow Coinotag on Google News to Stay Updated!

TAGGED:ArgentinaCryptocurrency