A compliant platform suspends Argentine fiat currency services, retaining cryptocurrency trading functions.

Source: CryptoNewsNet Original Title: Coinbase pauses local fiat rails in Argentina less than a year after its arrival Original Link:

A compliance platform suspends local fiat services in Argentina

A compliance platform announced the suspension of its local fiat operations in Argentina, less than a year after officially entering the market, as part of a strategic adjustment. The company notified users that it will temporarily withdraw local services for maintenance and operational assessment, and promised to return in a more sustainable product form.

This move primarily affects fiat channels. Starting from January 31, 2026, users will no longer be able to buy or sell USDC with Argentine Pesos (ARS), nor withdraw to local bank accounts. The company has given users a 30-day window to complete peso-based USDC transactions and withdrawals.

However, crypto-to-crypto trading activities remain operational. Users can continue to buy, sell, send, and receive digital assets. The company emphasizes that user funds are unaffected by this decision, and that the suspension does not mean a permanent exit from the Argentine market.

According to Ana Gabriela Ojeda, a well-known figure in the Latin American Web3 space, similar decisions usually stem from the increasing complexity of local fiat operations—including regulatory uncertainty, reliance on intermediary banks, high compliance costs, and limited trading volume. She stated, “This is not a rejection of cryptocurrencies or stablecoins, but a reflection of the structural challenges of integrating the local financial system in a volatile market.”

Despite the suspension of fiat operations, the platform plans to maintain a presence in Argentina through its Ethereum layer-2 network. Reports indicate that the company will continue collaborating with local partners, including certain exchanges, to advance related initiatives.

The platform announced its entry into the Argentine market in early 2025, after spending considerable time preparing for market entry.

Argentina’s Central Bank considers allowing banks to trade cryptocurrencies

The Central Bank of Argentina (Banco Central de la República Argentina) is considering permitting traditional banks to engage in cryptocurrency trading. The central bank is drafting new regulations that may allow banks to directly trade digital assets, though the specific timeline and scope remain unclear.

This move marks a significant shift from 2022, when the central bank banned financial institutions from providing crypto trading services, citing risks to users and the broader financial system. The decision follows exploration of digital asset services by several major banks.