#阿根廷央行不推加密入银行支付
$ETH
🚨 Argentina’s central bank throws cold water on crypto: Don’t expect it to enter bank payments! But Argentinians are busy buying crypto—how long can this wall hold?
Folks, Argentina’s central bank put it bluntly this time: banks won’t be allowed to touch crypto for the next two years. Since May 2022, the BCRA has prohibited financial institutions from providing crypto-asset services to customers, either directly or indirectly. In May 2023, it went further, banning payment service providers from processing digital-asset transactions.
But reality is starting to chip away at this wall.
Argentina is one of the world’s biggest crypto-adoption markets—one in every five people uses cryptocurrency. 94% of crypto transactions involving pesos go into stablecoins; essentially, “buying crypto = buying dollars.” In 2001, the government froze bank deposits and forcibly converted them into pesos, destroying Argentinians’ trust in the banking system. In 2019, foreign-exchange controls limited dollar purchases to $200 a month, making stablecoins a lifeline for getting around the restrictions.
The central bank blocks the way; banks find a workaround.
Two major banking groups, BIND and Petersen, are developing peso stablecoins through licensed virtual-asset subsidiaries. They’re targeting institutional treasury management and on-chain settlement, neatly sidestepping the ban on banks dealing with crypto. This isn’t a violation—it’s regulatory arbitrage: the bank owns the subsidiary, the subsidiary operates the business, so it’s inside the system but outside the ban.
Argentina isn’t alone.
Mexico’s central bank also maintains a “healthy distance.” Since 2021, it has prohibited banks and fintech companies from offering crypto services, warning that stablecoins pose systemic risks. Several central banks in Southern Africa have also taken similarly restrictive positions.
But while you can shut the doors of banks, you can’t shut down people’s desire for dollars and a way out.
Crypto adoption in Argentina hasn’t declined because of the ban. Instead, after inflation cooled, it became an everyday habit. Downloads of the Lemon wallet continue to grow, and USDC salary payments haven’t disappeared even as inflation has eased.
The more they try to block it, the more it shows how useful it is. The more they ban it, the more it shows how hard it is to replace. 🐾
⚠️ These are personal views and do not constitute investment advice.
$ETH
🚨 Argentina’s central bank throws cold water on crypto: Don’t expect it to enter bank payments! But Argentinians are busy buying crypto—how long can this wall hold?
Folks, Argentina’s central bank put it bluntly this time: banks won’t be allowed to touch crypto for the next two years. Since May 2022, the BCRA has prohibited financial institutions from providing crypto-asset services to customers, either directly or indirectly. In May 2023, it went further, banning payment service providers from processing digital-asset transactions.
But reality is starting to chip away at this wall.
Argentina is one of the world’s biggest crypto-adoption markets—one in every five people uses cryptocurrency. 94% of crypto transactions involving pesos go into stablecoins; essentially, “buying crypto = buying dollars.” In 2001, the government froze bank deposits and forcibly converted them into pesos, destroying Argentinians’ trust in the banking system. In 2019, foreign-exchange controls limited dollar purchases to $200 a month, making stablecoins a lifeline for getting around the restrictions.
The central bank blocks the way; banks find a workaround.
Two major banking groups, BIND and Petersen, are developing peso stablecoins through licensed virtual-asset subsidiaries. They’re targeting institutional treasury management and on-chain settlement, neatly sidestepping the ban on banks dealing with crypto. This isn’t a violation—it’s regulatory arbitrage: the bank owns the subsidiary, the subsidiary operates the business, so it’s inside the system but outside the ban.
Argentina isn’t alone.
Mexico’s central bank also maintains a “healthy distance.” Since 2021, it has prohibited banks and fintech companies from offering crypto services, warning that stablecoins pose systemic risks. Several central banks in Southern Africa have also taken similarly restrictive positions.
But while you can shut the doors of banks, you can’t shut down people’s desire for dollars and a way out.
Crypto adoption in Argentina hasn’t declined because of the ban. Instead, after inflation cooled, it became an everyday habit. Downloads of the Lemon wallet continue to grow, and USDC salary payments haven’t disappeared even as inflation has eased.
The more they try to block it, the more it shows how useful it is. The more they ban it, the more it shows how hard it is to replace. 🐾
⚠️ These are personal views and do not constitute investment advice.