Crypto Holding Legality in Argentina: What You Need to Know in 2026

Can you legally hold cryptocurrency in Argentina? Yes - but it’s not that simple. While you’re free to buy, sell, and store Bitcoin, Ethereum, or USDT in your own wallet, the rules around how you do it, who you do it with, and what you owe the government have changed dramatically since early 2024. If you’re holding crypto in Argentina, you’re not just riding a trend - you’re navigating one of the most complex, high-stakes regulatory environments in Latin America.

Crypto Is Legal to Hold - But Not as Money

Argentinians can legally own cryptocurrency. There’s no law banning you from buying Bitcoin or storing Ethereum in a non-custodial wallet. But here’s the catch: crypto is not legal tender. Only the Argentine peso, issued by the Central Bank, has that status. This isn’t just a technicality - it’s the foundation of how the government treats digital assets. Under Article 75, Section 11 of Argentina’s National Constitution, only the Central Bank can issue currency. That means crypto isn’t money. It’s a digital asset, treated like property or investment.

This distinction matters because it shapes everything else: taxes, banking, reporting. You can’t pay for coffee with Bitcoin at a local shop - not because it’s illegal, but because the law doesn’t recognize it as payment. But you can sign a contract that says payment will be made in Bitcoin. Decree 70/2023 made that clear. Private agreements involving crypto are legally binding. That’s why you’ll see people using USDT to pay rent, buy cars, or settle freelance work. It’s not a loophole - it’s the law.

Banking Ban: The Hidden Wall

Here’s where things get tricky. While you can hold crypto, you can’t easily move it through the banking system. On May 4, 2023, the Central Bank of Argentina (BCRA) banned banks from offering any crypto-related services. That means no bank accounts linked to Coinbase, no crypto purchases via debit card, no automatic transfers from your peso account to a crypto exchange.

This wasn’t about cracking down on crypto. It was about protecting foreign reserves. Argentina’s economy has been under pressure for years. Inflation hit 82.5% in 2024. People were rushing to buy dollars - and crypto became a cheaper, faster alternative. The BCRA saw this as a threat to its ability to control the flow of foreign currency. So they cut off the pipeline. Now, if you want to buy crypto, you have to use peer-to-peer platforms, registered VASPs, or cash-based methods. No bank transfers. No direct deposits. No easy exits.

It’s a paradox. Over 30% of Argentinians - about 15.3 million adults - own crypto, according to a 2025 Statista survey. But the banking system refuses to touch it. That’s why peer-to-peer trading dominates. Apps like Paxful and LocalBitcoins thrive. So do local VASPs like Buenbit and Satoshi Tango. They’ve become the unofficial financial infrastructure.

Registration Rules: VASPs Must Play by the Book

The big shift came with Law 27,739, passed on March 14, 2024. It created a new regulatory body: the National Securities Commission (CNV). Suddenly, anyone offering crypto services - exchanges, wallets, staking platforms - had to register. No more flying under the radar.

Under CNV Resolution 994/2024, a Virtual Asset Service Provider (VASP) is anyone who:

• Exchanges crypto for pesos or other crypto
• Manages crypto wallets for others
• Facilitates crypto transfers
• Provides custody services

These platforms must now prove they’re financially stable, have strong KYC systems, and report everything to the Financial Intelligence Unit (UIF). The deadline for registration? It’s staggered:

1. Individuals: July 1, 2025
2. Argentine companies: August 1, 2025
3. Foreign companies: September 1, 2025

And it’s not optional. If you’re a foreign exchange like Coinbase or Binance and you serve Argentinian users, you must register - even if you’re based in the U.S. or Singapore. The rule? If 20% or more of your revenue comes from Argentina, you’re under their jurisdiction. Over 100 platforms have already registered. Those who didn’t? They’re blocked from operating in the country.

Taxes: You Owe, Even If You Didn’t Sell

Holding crypto isn’t tax-free. Law 27,743 created the “blanqueo” program - a one-time asset regularization initiative. If you owned crypto before June 2024, you were required to declare it. Failure to do so could lead to penalties later.

Now, every time you sell crypto for pesos or another asset, you owe income tax. The rate? It’s progressive, based on your total annual income. But here’s what most people don’t realize: even swapping Bitcoin for USDT counts as a taxable event. The tax agency treats every trade as a sale. You’re not just taxed on profits - you’re taxed on the value of what you traded away.

And then there’s the cross-border tax. Since April 2025, any transaction that moves crypto out of Argentina - like sending Bitcoin to a U.S. wallet - triggers a 5% to 15% tax. The goal? To track capital flight and discourage large-scale transfers. For small remittances, it’s a pain. For big investors, it’s a cost of doing business.

Stablecoins Rule - Because Inflation Is Real

You won’t find many Argentinians holding Bitcoin as a long-term investment. Why? Because they’re using crypto as a survival tool. Stablecoins - especially USDT - make up 68% of all crypto transactions in the country, according to Chainalysis. People aren’t buying Bitcoin to get rich. They’re buying USDT to avoid losing 80% of their savings in a year.

Imagine your salary is paid in pesos. By the time you get paid, it’s worth 20% less. So you convert part of it to USDT on a Friday. You hold it. You use it to pay for groceries next week. That’s not speculation. That’s inflation hedging. It’s not a luxury. It’s a necessity.

This reality has shaped the market. The total value of crypto held in Argentina is estimated at $2.4 billion USD as of Q3 2025. Monthly trading volume? Around $380 million. That’s not Wall Street-level activity - but for a country with a collapsing currency, it’s massive. And it’s growing.

Penalties Are Real - And Harsh

Ignoring the rules isn’t an option. Non-compliant VASPs face fines up to 10 million Argentine pesos - roughly $10,000 USD. Repeat offenders? They get banned. The UIF can freeze assets. They can refer cases to prosecutors. In extreme cases, individuals can face criminal charges.

Even if you’re just an individual holding crypto, you’re not immune. If you’re caught evading taxes or using unregistered platforms for large transfers, you could be flagged. The government has access to transaction data from registered VASPs. They’re cross-referencing it with bank records and customs data. This isn’t a rumor. It’s happening.

What’s Next? DeFi and the Sandbox

The government isn’t done. By Q2 2026, they plan to release specific rules for decentralized finance (DeFi) platforms. That means lending, borrowing, and yield farming could soon be regulated. The CNV is also launching a regulatory sandbox in March 2026. Think of it as a testing ground. Startups can operate under temporary rules while they prove their models. It’s a smart move - encouraging innovation without chaos.

But not everyone’s happy. Some experts warn the minimum net worth requirements for VASPs - up to $5 million USD for some services - will push out local startups. Others say the September 2025 deadline for foreign platforms is too tight. The IMF called Argentina’s approach a “model,” but local operators are struggling to keep up.

Practical Tips for Holding Crypto in Argentina

If you’re holding crypto here, here’s what you need to do:

• Use a registered VASP - not just for safety, but to avoid future legal trouble. Look for CNV registration on their website.
• Keep records - every trade, every transfer. You’ll need them for taxes.
• Declare your holdings - even if you think you’re below the threshold. The government already has data. Don’t wait for them to find you.
• Avoid bank transfers - they’re blocked. Use P2P, cash deposits, or crypto-to-crypto swaps.
• Use non-custodial wallets - like MetaMask or Trust Wallet - for long-term storage. VASPs can freeze or shut down. Your wallet? Only you control it.

And if you’re thinking about starting a crypto business? Register with the CNV. Pay the fees. Get the audits. It’s expensive. It’s slow. But it’s the only way to operate legally.

Argentina’s crypto scene isn’t about speculation. It’s about survival. People aren’t chasing moonshots - they’re trying to keep their money from vanishing. The government isn’t trying to stop them. It’s trying to control them. And for now, that’s working - unevenly, painfully, but effectively.