Argentina is contemplating a significant policy shift that would allow local banks to engage more directly with cryptocurrencies, moving away from its previously restrictive approach. According to a report from La Nacion, the Banco Central de la República Argentina (BCRA) is considering permitting traditional banks to trade cryptocurrencies, although these claims have not been independently verified. The BCRA had previously banned financial institutions from offering crypto trading in May 2022, citing risks to users and the financial system. New regulations are reportedly in the works, with potential approval as early as April 2026. This change aligns with recent government actions, including finalized rules for virtual asset service providers and the registration of crypto exchanges like Coinbase and Binance in Argentina. The country's crypto sector has been expanding rapidly, surpassing Brazil in estimated user inflows by October 2024, driven by the peso's devaluation and high inflation rates. Despite past regulatory hostility, the landscape for cryptocurrencies in Argentina is evolving.
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