"Argentina's central bank, the Banco Central de la República Argentina (BCRA), is reportedly drafting rules that would allow commercial banks to offer bitcoin and crypto trading and custody services to customers. If approved, the new regulations could take effect as early as April 2026. The potential change would reverse a ban put in place in May 2022. At that time, the BCRA prohibited banks from carrying out or facilitating operations involving digital assets, citing concerns about financial stability and money laundering."
"Under the proposed framework, banks in Argentina could integrate crypto services directly into their apps and accounts, allowing for the trading and custody of select cryptocurrencies, including Bitcoin. These operations would be conducted through separate legal units subject to higher capital, security, and liquidity requirements. Additionally, banks would be required to fully comply with know-your-customer (KYC) and anti-money-laundering (AML) standards, in alignment with regulations set by Argentina's National Securities Commission (CNV)."
Argentina's central bank, the Banco Central de la República Argentina (BCRA), is drafting rules to permit commercial banks to offer bitcoin and crypto trading and custody services to customers, with possible implementation by April 2026. The proposal would reverse a May 2022 ban that barred banks from facilitating digital-asset operations over financial stability and money-laundering concerns. Banks would operate crypto services through separate legal units subject to higher capital, security, and liquidity requirements and would need to meet KYC and AML obligations aligned with the National Securities Commission (CNV). High inflation and currency controls have driven widespread crypto use, with about 10 million active wallets and roughly $91 billion in on-chain transactions between July 2023 and June 2024.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]