Argentina central bank director rules out crypto progress this year

Argentina is unlikely to make progress on new dollar or crypto measures this year as economic fragility continues to constrain the central bank’s agenda, Director Juan Ernesto Curutchet said at Pulso 2026.

While leaving the door open to future changes, Curutchet said progress would depend on a considerable reduction in perceived economic vulnerability and greater economic freedom.

Julián Colombo, Bitso’s director for South America, said Argentina could introduce changes under a potential second Javier Milei presidency, but warned that the country would be several years behind other markets.

The central bank director devoted much of his speech to the oversight of payment service providers, a sector that has expanded alongside digital payments in Argentina.

Curutchet said regulators must apply appropriate safeguards without burdening emerging companies with requirements designed for established banks. He highlighted reporting obligations, background checks on company owners and directors, and standards for auditing and corporate governance.

Argentina’s crypto policy under Milei remains a mix of pro-crypto rhetoric and limited regulatory change.

Milei has praised Bitcoin as an alternative to traditional monetary systems and supported economic liberalization, but banks and payment-service providers remain prohibited from offering crypto services under existing central bank rules.

Individuals can still access crypto through non-bank exchanges, wallets and peer-to-peer platforms, while virtual-asset service providers are subject to applicable registration and compliance rules.

Milei’s crypto stance also faced controversy in February 2025 after he promoted the LIBRA token, which later collapsed and prompted fraud allegations and a judicial inquiry. His office said he was not involved in the token’s development.