The exchange halts peso operations but keeps digital asset trading active.
Coinbase has decided to temporarily suspend fiat currency operations in Argentina, less than twelve months after officially entering the South American market. The move specifically affects services based on the Argentine peso, while all other functionalities remain operational.
According to Forbes Argentina, the exchange informed its users that it would take a step back from local services following a review of its operations in the country. The company described the move as a “deliberate pause”, aimed at reassessing its strategy and returning to the market with a stronger and more sustainable long-term offering.
The change primarily impacts the channels for converting between traditional currency and digital assets. Starting January 31, 2026, Coinbase Argentina users will no longer be able to buy or sell USDC using Argentine pesos (ARS), nor withdraw funds to local bank accounts. The platform has given users a 30-day window to complete peso transactions and withdrawals before the deadline.
Despite the suspension of fiat services, crypto-to-crypto trading remains fully operational. Users can continue to buy, sell, send, and receive digital assets without restrictions. Coinbase also reassured clients that deposited funds are unaffected by this decision and emphasized that the pause does not signal a permanent exit from the Argentine market.
Meanwhile, the Argentine central bank is reportedly considering allowing traditional banks to operate with cryptocurrencies. The Banco Central de la República Argentina is reportedly working on new regulations that could enable banks to engage directly with digital assets, although the timing and final scope remain uncertain.
This potential move would mark a reversal from 2022, when the central bank prohibited financial institutions from offering crypto trading services, after several banks had begun exploring digital asset-related offerings. At the time, regulators justified the ban by citing risks to users and the overall stability of the financial system.
