Argentina is considering allowing local financial institutions to engage more directly with cryptocurrencies, marking a significant shift from its restrictive stance. The Banco Central de la República Argentina (BCRA) is reportedly considering allowing traditional banks to trade cryptocurrencies, with new rules potentially being implemented as early as April 2026.

This potential regulatory change aligns with recent moves by Argentina’s government to finalize rules for virtual asset service providers and require crypto service providers to register with local regulators since April 2024. Major crypto exchanges like Coinbase and Binance have received approval to expand services in Argentina, indicating a growing acceptance of cryptocurrencies in the country.

Argentina’s crypto industry has been booming, with the country overtaking Brazil as the top Latin American country in terms of estimated crypto inflows by users. Despite earlier hostility from regulators, the country’s extreme inflation and weak peso have driven significant crypto adoption. The central bank had previously banned payment providers from offering crypto transactions in May 2023.

Read more at Coin Telegraph: Argentina Weighs Letting Banks Back Into Crypto: Report