The central bank of Argentina is reviewing the rules to allow local banks to offer trading and custody of Bitcoin, moving cryptocurrency activity to supervised channels.
The Central Bank of Argentina is reviewing a proposal that would allow commercial banks to offer Bitcoin services for the first time since the 2022 ban.
Authorities are studying a regulatory package that would allow banks to integrate cryptocurrency trading and custody into standard accounts. The measure signals a shift towards overseeing digital asset activity after years of growth on unregulated platforms.
The draft framework arises from internal debates in the government's digital assets working group. Although the text is not definitive, regulators have confirmed that the plan remains in effect.
They are evaluating risk controls, information standards, and the assets that banks could back. The list will likely include Bitcoin, major cryptocurrencies, and dollar-pegged stablecoins.
Argentine banks have shown interest in rejoining the sector. Before the 2022 restriction, several institutions tested cryptocurrency trading tools in their applications. As the review continues, banks are preparing their internal systems to act quickly if the central bank authorizes the change.
Argentina's renewed interest in access to Bitcoin comes after long periods of high inflation and strict currency controls. These conditions drove many residents towards digital assets, often using offshore exchange platforms or informal channels.
