Coinbase to End Peso-to-USDC Trading in Argentina by January 2026, Maintains Crypto Trading
Coinbase announced on January 3, 2026, that it will end peso-to-USDC trading in Argentina effective January 31, 2026. Despite this change, crypto-to-crypto trading will remain active on the platform. Users will have a 30-day window to convert or withdraw their peso holdings.
Coinbase initially launched its operations in Argentina on January 28, 2025, following approval from the Comisión Nacional de Valores (CNV) to operate as a Virtual Asset Service Provider, with Matías Alberti appointed to lead regional operations. The move to end peso-to-USDC trading reflects a strategic retreat from local currency operations but does not indicate a complete exit from Argentina's cryptocurrency market.
The Argentine central bank is reportedly considering new regulations to permit banks to offer crypto trading and custody services, potentially to be approved around April 2026. Earlier CNV approvals had enabled CEDEAR ETFs for Bitcoin and Ethereum, signaling initial regulatory openness at the time of Coinbase's market entry.
The Argentine crypto environment has been marked by volatility, highlighted by the Libra meme coin scandal in February 2025, which was linked to President Milei and resulted in investigations and asset freezes.
Coinbase continues to support crypto trading in Argentina and is pursuing an 'everything exchange' strategy for 2026, aiming for global expansion that includes the launch of Kalshi for event-based markets.
