Cryptocurrency exchange Coinbase has stopped its local fiat operations in Argentina less than a year after formally entering the market, reducing peso-based services and maintaining its crypto functionality.
According to a report by Forbes Argentina, Coinbase informed users that it will temporarily stop maintaining local services following a review of its operations. The company described the move as a “deliberate pause” aimed at reassessing its approach and returning with a more sustainable product offering.
The change mainly affects Fiat rails. Starting January 31, 2026, users will no longer be able to buy or sell USDC (USDC) using Argentine pesos (ARS) or withdraw funds to local bank accounts. Coinbase told users they have a 30-day window to complete peso-based USDC transactions and withdrawals before the deadline.
However, crypto-to-crypto activity remains operational. Users can continue to buy, sell, send and receive digital assets, and Coinbase said customer funds are not affected by the decision. The company also stressed that the pause does not imply a permanent departure from the country.
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Coinbase halts fiat rails in Argentina
In a post on
“It is not a signal against cryptocurrencies or stablecoins, but rather a demonstration of the structural challenges of integrating local financial systems in volatile markets,” he wrote.
Despite the pause in fiat operations, Coinbase plans to maintain a presence in the country through Base, its layer 2 Ethereum network. Forbes Argentina reported that Coinbase will continue to work with local partners, including crypto exchange Ripio, through initiatives related to Base.
Coinbase announced its launch in Argentina in early 2025 after spending much of the previous year preparing its market entry.
Cointelegraph reached out to Coinbase for comment but had not received a response at the time of publication.
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Argentina considers allowing banks to trade in cryptocurrencies
Argentina’s central bank is reportedly considering allowing traditional banks to deal in cryptocurrencies. The Central Bank of the Argentine Republic is drafting new rules that could allow banks to interact directly with digital assets, although the timeline and final scope are still unclear.
The move would mark a sharp break from 2022, when the central bank banned financial institutions from offering cryptocurrency trading after major banks explored digital asset services. At the time, regulators cited risks to users and the broader financial system.
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