Argentina’s central bank is reportedly drafting new rules that would let banks offer crypto services, marking a major reversal of its 2022 ban. The shift mirrors the U.S., where the SEC repealed SAB121 earlier this year, a move that triggered rapid institutional adoption.
If confirmed, this would be Argentina’s own “SAB121 moment.”
From Total Ban to Pro-Crypto Shift
In 2022, Argentina’s central bank (BCRA) introduced a strict rule called Communication A7506, which outright prohibited banks from offering or facilitating crypto services.
But the landscape changed after Javier Milei took office and appointed new leadership.
BCRA President Santiago Bausili has pushed for modernizing the financial system, arguing that banks and fintech should compete fairly and embrace new technology. BCRA is now preparing a regulation to ease restrictions and let banks re-enter the crypto market.
A Move That Mirrors the U.S.
The situation strongly resembles the United States:
- SAB121 in the U.S. restricted banks from holding crypto.
- Repealing it unlocked institutional adoption.
- Now Argentina is preparing a similar pivot.
But Argentina’s old rule was even harsher, an outright ban rather than an accounting restriction.
Removing it would be a major green light for TradFi.
Banks Are Ready for Crypto
Globally, banks are already moving:
- Citi and State Street will offer crypto custody in 2026.
- JPMorgan accepts crypto ETFs as loan collateral.
- European banks already let retail customers buy crypto directly.
Argentina’s banks may follow the same path once restrictions are lifted.
How This Affects Crypto Prices
A regulatory shift like this usually strengthens the crypto market. Here’s why:
1. More Adoption = More Demand
When banks enter crypto, new users and capital follow.
This typically supports $Bitcoin, $Ethereum, and large-cap assets.
2. Latin America Is a Hot Market
Argentina already has one of the highest crypto adoption rates due to inflation.
Allowing banks to participate could accelerate usage even more.
3. Positive Global Sentiment
After months of regulatory battles worldwide, another country easing restrictions is a bullish signal.
Short-Term Impact:
Likely mild upward pressure on $BTC and altcoins due to improved sentiment.
Medium-Term Impact:
If Argentina’s banks integrate trading and custody, expect a stronger adoption wave, potentially boosting market demand.
Source: https://cryptoticker.io/en/bullish-news-argentina-moves-to-lift-its-crypto-banking-ban/
