PANews reported on December 8th that, according to FinanceFeeds, the Central Bank of Argentina (BCRA) is considering lifting the long-standing ban on traditional financial institutions offering cryptocurrency trading and custody services. This policy shift would move from an explicit ban to regulated integration, primarily driven by Argentina's unique economic environment and surging demand for digital assets. Current regulations prohibit banks from participating in crypto trading, aiming to reduce risk and curb the use by unregulated entities. However, the government of President Javier Milei, which supports market-oriented and crypto-friendly policies, is evaluating a new regulatory framework to allow banks to enter the market under strict rules.

This move aims to bring the massive cryptocurrency trading activity into the formal banking system, thereby providing a more secure and compliant channel, enhancing investor protection, and strengthening KYC and anti-money laundering (AML) controls. Furthermore, it will enable governments to more effectively track and tax crypto assets, while acknowledging their important role as an inflation hedge.