Argentina’s central bank is not preparing a near-term opening for crypto or other digital assets inside the country’s banking and payment infrastructure. The current restriction on banks handling crypto will stay in place for now, according to comments from a senior Banco Central de la República Argentina official.
Speaking at an event organized by the Argentine Payment Chamber, BCRA Superintendent of Financial and Foreign Exchange Institutions Juan Curutchet said there will be no change this year in the treatment of crypto and digital assets within banking and payment channels. He also suggested that any future deregulation would depend on broader economic conditions and, potentially, a second presidency for Javier Milei.
No policy shift expected this year
Curutchet said the central bank’s position will remain unchanged in the near future, ruling out an imminent rollback of the existing ban. His remarks indicate that banks will continue to be barred from integrating crypto into their regulated services and payment flows for the time being.
The comments reinforce a cautious official stance toward digital assets in the formal financial system. While crypto-related questions may remain part of the policy debate, the central bank is not signaling a short-term operational path for banks or payment providers to bring those assets into mainstream channels.
Economic conditions seen as the key constraint
According to Curutchet, the possibility of lifting the prohibition is tied to the state of Argentina’s economy ahead of the next presidential election. He said the country’s economic fragility limits the government’s room to move on these kinds of measures now.
That framing places any change in policy well beyond the current year and makes it conditional rather than assured. In his account, discussion of the issue is still warranted, but the practical conditions for acting on it are not yet in place.
Second Milei term mentioned as possible window
Curutchet said deregulation could become possible during a second Milei presidency, though he did not present that outcome as a confirmed plan. Instead, he described it as a scenario in which a different approach might be considered if economic circumstances allow.
That leaves the outlook for crypto integration in banking tied both to politics and to macroeconomic stability. For now, the central bank’s message is that neither factor supports a near-term policy reversal.
Banks are exploring workarounds outside regulated balance sheets
Even with the ban intact, banking groups are reportedly developing stablecoin initiatives through separate entities rather than inside regulated banks themselves. These efforts are aimed at offering programmable money functions while staying within the current restrictions.
The article says those projects are being designed for institutional money management, treasury operations, on-chain event-based payments, and collateralized credit management. The next confirmed step, however, is not a regulatory opening: the central bank’s prohibition remains in force, and no change is expected before year-end.
Source: news.bitcoin.com