Argentina's central bank considers allowing crypto services at financial firms

The Central Bank of Argentina (BCRA) is considering allowing traditional financial institutions to offer cryptocurrency trading and custody services, FinanceSpeed reported. The move is reportedly aimed at strengthening Know Your Customer (KYC) and Anti-Money Laundering (AML) measures and facilitating taxation. The media outlet added that while the entry of these institutions into the crypto market would intensify competition for existing Virtual Asset Service Providers (VASPs) and improve service quality, the central bank would need to establish new regulations to manage the systemic risks of crypto integration.