[Argentine Central Bank: No Near-Term Crypto Banking Integration, 2022 Ban Remains in Place] According to a report by Jinse Finance on October 11, citing Bitcoin.com, Juan Curutchet, head of financial institutions and foreign exchange institutions at the Central Bank of Argentina (BCRA), stated that cryptocurrencies and digital assets will not be integrated into the banking and payment systems in the short term, adding that "there will be no changes this year." However, he noted that this could be a possibility during the "second term of Milei." This statement contradicts earlier rumors about potential regulatory relaxation for digital assets, with some banks claiming that a draft allowing banks to offer crypto services is being prepared. This means that the regulation introduced by the BCRA in 2022, which prohibits financial institutions from providing crypto services, will remain in effect, and its repeal will depend on the economic situation before the elections. Curutchet acknowledged that the current economic fragility limits the scope for progress but believes these issues remain on the "to-do agenda." Despite the ban, several banking groups are still advancing their own stablecoin projects through independent entities, offering programmable currency functions such as treasury management, on-chain event-based payments, and collateralized credit management to circumvent existing restrictions. According to Chainalysis, Argentina received over $88.5 billion in crypto value in the 12 months ending June 30, making it the second-largest crypto hub in Latin America. - [Original Link](https://news.(bitcoin.com)/regulation-and-legal/argentinas-central-bank-rejects-near-term-crypto-banking-integration/)