Argentina’s central bank is reviewing a proposal that would let commercial banks offer Bitcoin services for the first time since the 2022 ban. Officials are studying a regulatory package that would allow banks to integrate crypto trading and custody into standard accounts. The measure signals a shift toward placing digital-asset activity inside supervised channels after years of growth in unregulated platforms. The draft framework follows internal discussions within the government’s digital-assets working group. Although the text is not final, regulators have confirmed that the plan remains active. They are evaluating risk controls, reporting standards, and which assets banks would be permitted to support. The list will likely include Bitcoin, major cryptocurrencies, and dollar-linked stablecoins. Banks in Argentina have shown interest in reentering the sector. Before the 2022 restriction, several institutions tested in-app crypto trading tools. As the review continues, banks are preparing internal systems so they can move quickly if the central bank authorizes the change. Shift Comes After Years of High Inflation and Currency Controls Argentina’s renewed focus on Bitcoin access follows long periods of high inflation and strict currency controls. These conditions pushed many residents toward digital assets, often using offshore exchanges or informal channels. As usage expanded, regulators struggled to monitor flows and enforce compliance requirements across the fragmented market. Because of this, officials have signaled an interest in bringing more crypto activity under direct oversight. They aim to improve data collection, strengthen anti-money-laundering checks, and reduce the reliance on unregulated intermediaries. By moving services back into banks, authorities expect clearer reporting structures and more consistent consumer protections. At the same time, the government has attempted to address public demand for flexible financial tools. While officials avoid commenting on the timing of any approval, the review reflects a broader policy effort to modernize rules without abandoning existing safeguards. This balancing act continues as the central bank weighs industry feedback. Banks Could Regain a Role in the Crypto Market If approved, the new rules would reverse the blanket ban that halted banking crypto services in May 2022. Banks would again be allowed to give customers the option to buy, sell, and hold Bitcoin inside familiar banking apps. This integration would place digital-asset activity alongside traditional products governed by Argentina ’s existing financial regulations. The shift would also pressure local crypto exchanges to maintain higher compliance standards. As banks adopt formal frameworks, independent platforms may need to adjust procedures to compete for users who prefer regulated environments. Consequently, the measure could reshape how digital-asset trading operates across Argentina’s broader financial system. For now, the central bank has not committed to a final deadline. Officials say the review remains ongoing, and approval will depend on completing the necessary supervisory tools. Nevertheless, the proposal marks the clearest sign since 2022 that banks may again handle Bitcoin under Argentina’s national regulatory structure.
