Coinbase Hits Pause on Argentina’s Peso On-Ramp

Coinbase will switch off peso-based funding and withdrawals for customers in Argentina on Jan. 31, 2026, removing the ability to move money between local bank accounts and the exchange while leaving crypto features available.

Users will have 30 days to finish any remaining Argentine peso (ARS) activity tied to USDC, including buying or selling USDC with pesos and withdrawing pesos to local banks. After the cutoff, those peso rails will no longer be supported, effectively limiting the platform in Argentina to crypto-to-crypto transactions.

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A Deliberate Pause

Coinbase said trading and transfers between digital assets will continue as normal, including buying, selling, sending and receiving crypto. The company told customers their funds are not impacted by the change and said the decision should not be read as a permanent exit. 

Forbes Argentina reported that Coinbase described the move as a “deliberate pause” after an internal review, with the goal of returning later with a more sustainable local product.

The rollback comes as Argentina’s crypto market is still dealing with fallout from high-profile controversy and shifting policy signals. 

In February 2025, President Javier Milei publicly backed the Solana-based LIBRA memecoin, which surged to a peak market capitalisation of about US$4.5 billion (AU$6.8 billion) before dropping more than 90% after wallets linked to the project sold more than US$107 million (AU$163 million). 

The episode prompted congressional scrutiny, and a committee reported in November 2025 that Milei provided “essential collaboration” to the project. Milei has denied wrongdoing.

Note that the Banco Central de la República Argentina is weighing whether to let traditional banks trade crypto assets, according to a report by La Nación.

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