Argentina's Central Bank Will Not Push for Crypto Integration into Banking and Payment Systems in the Next Two Years

Odaily reports: Juan Curutchet, head of financial and foreign exchange institution supervision at the Central Bank of Argentina (BCRA), stated that it will not push for the integration of cryptocurrencies and digital assets into banking and payment channels in the next two years. The ban on crypto services by financial institutions introduced in 2022 will remain in effect.

Juan Curutchet pointed out that Argentina's current economic fragility is insufficient to support the advancement of such measures. Whether the ban will be lifted in the future depends on economic conditions, and the relevant topic may be discussed during a second Milei term.

Despite the ban remaining in place, Argentine banking groups are advancing institutional stablecoin projects through independent entities, aimed at programmable money, treasury management, payments triggered by on-chain events, and collateralized credit management.

In the 12 months ending June 30, cryptocurrency transaction value in Argentina exceeded $88.5 billion, making it the second-largest crypto hub in Latin America. (Bitcoin.com News)