The Central Bank of Argentina is considering lifting the ban on banks' crypto businesses, allowing banks to conduct crypto trading and custody under a new regulatory framework. This marks an official shift from "prohibition" to "regulation." The move aims to bring the widespread use of BTC and stablecoins for storage and transactions into the compliance system, strengthen KYC/AML, and enhance tax traceability. If implemented, banks may directly compete with local trading platforms, driving down fees and reshuffling the industry. However, regulators will still need to formulate capital and liquidity risk standards to ensure system stability. (Financefeeds)
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The Central Bank of Argentina is considering lifting the ban on banks' crypto businesses, allowing banks to conduct crypto trading and custody under a new regulatory framework. This marks an official shift from "prohibition" to "regulation." The move aims to bring the widespread use of BTC and stablecoins for storage and transactions into the compliance system, strengthen KYC/AML, and enhance tax traceability. If implemented, banks may directly compete with local trading platforms, driving down fees and reshuffling the industry. However, regulators will still need to formulate capital and liquidity risk standards to ensure system stability. (Financefeeds)