Argentina Crypto Banking Restrictions 2025: What You Need to Know

Argentina crypto banking restrictions are a set of 2025 rules that stop traditional banks from handling any crypto‑related activity. The move, driven by the Banco Central de la República Argentina (BCRA), aims to shield the country’s fragile foreign‑exchange reserves while still allowing a regulated crypto ecosystem to grow through licensed service providers.

Key Takeaways

• Effective Dec312025, banks cannot offer crypto custody, trading, or exchange services.
• All crypto operations must go through registered VASPs approved by the Comisión Nacional de Valores (CNV).
• Registration deadlines: individuals-July12025, local entities-August12025, foreign entities-September12025.
• VASP compliance includes FATF‑aligned AML/CFT rules, net‑worth thresholds, and monthly reporting.
• Crypto users now juggle fiat banking for pesos and a separate VASP platform for digital assets.

Regulatory Background

The groundwork began with Law27,739 (March2024), which gave the CNV oversight of virtual‑asset service providers (VASPs). In March2025, CNV Resolution1058/2025 formalised the banking ban and set the registration roadmap. The same year, the government lifted most currency controls on April142025, allowing free dollar purchases but keeping crypto out of the banking lane.

Simultaneously, the Securities Commission issued General ResolutionNo1069/2025, establishing a framework for tokenising real‑world assets. All of this happens under the watchful eye of the Financial Action Task Force (FATF), whose AML/CFT standards are baked into the VASP regime.

What the Banking Ban Actually Means

From a practical standpoint, the BCRA’s directive blocks every traditional bank from offering:

• Crypto custody services
• Exchange or trading platforms
• Direct crypto‑to‑peso conversion
• Any form of onboarding KYC for digital assets

Instead, users must open accounts with a VASP that is registered with the CNV. Those VASPs act as the bridge between fiat and crypto, handling all deposits, withdrawals, and on‑ramp/off‑ramp operations.

VASP Registration Requirements

CNV Resolution1058/2025 outlines a tiered registration process:

1. Individuals - submit a detailed KYC profile by July12025.
2. Argentinian legal entities - file incorporation documents, proof of capital, and a compliance manual by August12025.
3. Foreign entities targeting Argentine users - provide a local representative, AML program, and a memorandum of understanding with a local partner by September12025.

Beyond the deadlines, each VASP must meet a minimum net‑worth requirement, expressed in USD, that varies by service type (e.g., custodial services need at least $2million, exchange services $5million). The Financial Intelligence Unit (UIF) monitors compliance, demanding suspicious‑activity reports within 150days and monthly transaction aggregates.

Impact on Everyday Crypto Users

For the 30% of Argentinians who already hold digital assets, life gets a bit more complicated:

• Fiat money still moves through traditional banks, but any crypto purchase or sale must go through a VASP.
• Stablecoins dominate because VASPs readily support USDC, USDT, and local stablecoins pegged to the peso.
• Cross‑border transfers now incur a 5‑15% tax, and the tax must be reported through the VASP’s monthly filing.

Tourists and digital nomads entering Argentina need to remember that airport cash‑exchange kiosks won’t accept crypto, and they must locate a registered VASP for any crypto‑related need.

Consequences for Crypto Businesses

Start‑ups and established platforms face a dual‑stack challenge: they need a VASP license for crypto operations and a separate banking relationship for fiat handling. This separation raises operating costs and forces many small players to partner with larger VASPs or outsource compliance.

Critics argue that the added compliance burden could stifle innovation, especially for niche services like peer‑to‑peer lending or micro‑insurance that rely on low‑cost banking integration. On the flip side, the clear regulatory line protects investors and gives foreign institutions-like TRON’s staking service-a predictable environment, provided they work exclusively through the VASP channel.

Future Outlook

By the end of 2025, the bifurcated system should be fully operational. Analysts expect the following trends:

• Consolidation of VASPs into a handful of well‑capitalised players.
• Potential relaxation of the banking ban if foreign‑exchange pressures ease and the crypto market shows sustained stability.
• Increased public‑private collaboration on tax‑regularisation programs, especially as the “blanqueo” window closes on September302025.

Whether Argentina will become a regional model for regulated crypto ecosystems or a cautionary tale depends on how smoothly the VASP sector scales while keeping compliance costs in check.

Comparison: Banks vs. VASPs under Argentina’s 2025 Rules

Frequently Asked Questions