Argentina is preparing to allow banks to offer cryptocurrency services again, ending a three-year ban. The country’s central bank, known as BCRA (Banco Central de la República Argentina), is working on new rules that could take effect as early as April 2026.

This move comes as Argentina faces serious economic problems, including hyperinflation of over 270% and tight limits on how people can access foreign currency. The government is now turning to digital assets like Bitcoin and Ethereum as part of a solution.

Since taking office in late 2023, President Javier Milei has supported crypto-friendly reforms. Under his leadership, regulators are shifting from banning crypto to finding ways to manage it safely. The new plan would let banks offer services like trading and storing cryptocurrencies. This includes popular coins such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and XRP.

If approved, these services could be added directly into banking apps, making crypto easier for everyday users to access. However, banks would need to follow strict rules. They must run their crypto operations through separate legal branches, keep extra cash on hand, and follow high security standards.

All bank-related crypto services would need to follow strong Know Your Customer (KYC) and Anti-Money Laundering (AML) laws. These standards come from Argentina’s financial watchdog, the National Securities Commission (CNV). While not yet official, insiders say the final rules could be ready by April 2026.

Planning already began after a 2024 rule requiring crypto exchanges and platforms—called Virtual Asset Service Providers (VASPs)—to register with the CNV. Argentina is already a global leader in crypto use, especially among regular people. Between July 2024 and June 2025, Argentinians moved nearly $94 billion in crypto transactions—second highest in Latin America.

Many people in Argentina use crypto to protect their savings from the falling peso and high inflation. Most of this happens through informal or non-bank platforms. Bringing banks into the mix could make crypto safer, improve tax reporting, reduce fraud, and make digital assets more widely available.

Some of Argentina’s biggest banks—like BBVA Argentina, Banco Macro, and Grupo Financiero Galicia—have shown interest. If banks begin offering crypto services, it could reach over 20 million customers.

But there are still challenges. It’s important to keep competition fair between banks and existing crypto exchanges. Clear tax policies and smooth tech integration will also be necessary. Crypto companies like Lemon believe this change could help bring crypto to the masses, but experts warn it will only work if taxes are fair and risks are managed properly.

Other countries are moving in a similar direction. Brazil already has clear laws for crypto in banking. The U.S. and Europe are also expanding their regulations. While Argentina’s timeline could change, the current government is clearly pushing for more innovation in digital finance.

Crypto adoption in Argentina is driven by real need, not just speculation. With the peso losing value and government controls limiting access to U.S. dollars, people use cryptocurrencies like USDT and USDC as a safe place to store money and send payments across borders.

Unlike wealthier nations where crypto is mainly used for investing, in Argentina it’s used for everyday things like saving money, paying bills, or sending remittances. That’s why the country leads Latin America in crypto ownership.

About 20% of Argentinians—roughly 9 million people—own some form of cryptocurrency. Some surveys suggest the number could be closer to 30%, especially during periods of high inflation. Argentina ranks 15th globally for active crypto wallet users with around 10 million users, and about half of those use crypto every day.

From mid-2024 to mid-2025, Argentina processed $93.9 billion in on-chain crypto transactions, showing consistent growth from previous years. The country ranks 20th in the Global Crypto Adoption Index by Chainalysis, which looks at real-world use instead of just big investments.

Most of the crypto activity involves stablecoins like USDT and USDC. Around 62% of transactions are in stablecoins, much higher than the global average of about 45%. These coins are pegged to the U.S. dollar and help people avoid inflation while making fast cross-border payments.

People also use platforms like Ripio and Lemon Cash to convert pesos into crypto at over 6,000 local outlets. Young people and tech-savvy users are leading this trend, helped by growing digital literacy.

In 2025, new rules were introduced requiring all crypto platforms to follow international anti-money laundering standards set by the Financial Action Task Force (FATF). These rules aim to reduce risks from unregulated markets.

Looking ahead, the plan to let banks offer crypto services by April 2026 could bring millions of new users into formal digital finance. With over 15% adoption across Latin America and stablecoins driving most transactions, Argentina is becoming a model for how emerging economies can use crypto for financial inclusion.

Crypto in Argentina is no longer just a trend—it’s a practical tool for survival. And now, with government support and upcoming bank integration, it may become even more mainstream in everyday life.