Argentina may be on the brink of a major policy shift for crypto. The country’s central bank, Banco Central de la República Argentina (BCRA), is considering whether to allow traditional banks to offer cryptocurrency services—potentially reversing a strict 2022 ban that kept digital assets out of the formal banking system, according to a new report. The story, first flagged by La Nación and covered by Cointelegraph, says draft rules are in the works but timelines are still fluid. Some local exchange executives told La Nación that approval could arrive as early as April 2026, though that’s not confirmed.
What’s on the table
Per La Nación, sources “close to the organization” say the BCRA is working on a disposition to let banks “operate with cryptoassets,” a move that proponents argue would turbocharge adoption by bringing Bitcoin and stablecoins into familiar bank apps. The outlet notes that Argentina already counts millions of retail crypto users; banks like Galicia, Santander and Nación could eventually distribute access at much larger scale if the rules land.
Cointelegraph’s write-up adds useful context: in May 2022, the BCRA banned financial institutions from offering crypto services days after two of the country’s biggest banks said they would list Bitcoin and Ether in their apps. The central bank argued at the time that such products posed risks to users and to the financial system. That prohibition became the foundation of the current “bank-level” crypto ban.
The rulebook Argentina would be undoing
The 2022 measure came via Communication “A” 7506, which explicitly barred banks from carrying out or facilitating client transactions with “digital assets—including cryptoassets—unless authorized by a competent national regulator or the BCRA.” The text was published in the official gazette within days and has remained in force since. A year later, the BCRA extended similar restrictions to payment service providers through Communication “A” 7759.
If banks are now allowed back into crypto, it would represent a policy pivot from prohibition to supervision—putting regulated institutions at the front of on-ramps that Argentines already use informally. That shift mirrors trends in other markets where authorities prefer crypto exposure to flow through supervised entities subject to AML/CFT and consumer-protection rules.
Why now? Adoption surged while rules evolved
Argentina’s retail appetite for crypto—especially dollar-linked stablecoins—has ballooned amid chronic inflation and currency controls. Cointelegraph notes the country became a regional leader in user inflows by late 2024, as more consumers sought protection against peso volatility. Regulators didn’t ignore that shift: the National Securities Commission (CNV) launched a mandatory registry for Virtual Asset Service Providers (VASPs) in March 2024(General Resolution 994/2024) and tightened requirements further with General Resolution 1058/2025. Those measures formalized who can operate, what disclosures are needed, and how providers are supervised.
In short, Argentina now has the regulatory plumbing—a VASP registry and oversight powers—that didn’t exist when the BCRA slammed the brakes in 2022. Letting banks participate under that umbrella would bring activity into clearer view for supervisors.
How bank crypto could work in practice
Industry voices quoted by La Nación expect two models: (1) banks create or acquire a regulated VASP subsidiary; or (2) banks partner with an existing registered exchange (e.g., Lemon, Bitso) that handles custody and execution behind the scenes. The second option may be more likely near-term, given the cost and expertise required to build secure digital-asset infrastructure from scratch. Some banks are reportedly already setting up arrangements so they can “switch on” quickly if the ban lifts.
It’s also a chance to upgrade earlier, limited pilots. When Banco Galicia briefly offered crypto in 2022 (before the ban), users couldn’t withdraw to external wallets—hardly the open-finance vision. A fresh framework could encourage better portability and clearer redemption rights, especially for stablecoins that consumers use for day-to-day hedging.
What’s confirmed—and what isn’t
So far, the BCRA has not published a new resolution or official statement reversing the 2022 policy. The central bank’s communications archive lists the original measures, but there’s no public notice yet about a repeal or replacement. Any change would likely arrive via a new Communication “A” or related normative act—ideally with a transition timetable for banks and PSPs. Until then, the 2022/2023 prohibitions remain in effect.
Timelines remain speculative, too. While some market participants floated April 2026 as a possible approval window, that’s a private estimate reported by La Nación, not an official target. The only concrete signal today is that the BCRA is studying options and drafting rules.
Potential impact: access, transparency, and tax parity
If implemented, bank-facilitated crypto could normalize access for millions who prefer to transact inside their bank apps—boosting adoption, but also moving activity into KYC’d channels with clear audit trails. Exchanges told La Nación they welcome the move but want tax parity so banks and crypto-native firms compete on level terms (for example, exemptions around certain transaction taxes that previously disadvantaged exchanges).
For policymakers, the upside is better supervisory visibility and a chance to harmonize standards across banks, PSPs and exchanges using the CNV’s VASP framework. The challenge will be getting the balance right on custody risk, asset-selection policies (e.g., which stablecoins), disclosures, and consumer redress—lessons that global regulators have emphasized when banks touch crypto.
The bigger picture
Argentina’s debate illustrates a broader shift: regulators are moving from blanket bans toward risk-based rules that channel crypto demand into supervised rails. The VASP regime gives the CNV inspection and sanction powers; a bank-access model would bring a second line of oversight via prudential supervisors. Whether that combination reduces risk or simply re-routes it will depend on the fine print—reserve quality for stablecoins, segregation of client assets, and incident reporting cadence, among others.
Bottom line
Argentina hasn’t flipped the switch yet, but momentum is real. If the BCRA green-lights bank participation, it would mark the country’s most consequential crypto policy change since the 2022 clampdown—one that could make Bitcoin and stablecoin services as easy to reach as a checking account, under stricter rules than before. Keep an eye on the BCRA’s official communications feed and CNV guidance for the next steps.