Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
A certain compliant platform suspends Argentine Peso trading and exits in disappointment less than a year later.
Source: Yellow Original Title: Coinbase Ends Argentine Peso Trading Less Than a Year After Launch in Argentina
Original Link:
Certain compliant platform suspends Argentine Peso trading
A certain compliant platform has notified Argentine users that it will cease offering Peso to USDC trading services starting January 31.
The exchange launched local currency operations in Argentina last year after obtaining regulatory approval, and now less than a year later, has announced this decision. Users have 30 days to convert and withdraw their Pesos until the deadline.
It is worth noting that cryptocurrency pairs on the platform for crypto-to-crypto trading remain fully available.
What happened
Around January 3, a certain compliant platform notified users that the ability to buy USDC with Pesos and withdraw to local bank accounts would no longer be available. The company did not disclose specific reasons for suspending fiat operations.
The exchange entered the Argentine market on January 28, 2025, after receiving approval from the National Securities Commission of Argentina. The exchange hired Matías Alberti, who has extensive experience with companies like Buenbit and Clara, to lead regional operations.
A study by the certain compliant platform shows that 87% of Argentinians see cryptocurrency as a way to achieve financial independence.
The Argentine cryptocurrency market was shaken in February 2025 when the president promoted the LIBRA meme coin. The token surged to a market cap of over $4 billion before crashing more than 85% within hours. According to researchers, the losses from this scandal ranged between $100 million and $251 million.
Why this matters
Reportedly, the Central Bank of Argentina is drafting regulations to allow traditional banks to offer cryptocurrency trading and custody services. According to local exchanges, the new regulations may be approved around April 2026.
Ana Gabriela Ojeda, a Latin American Web3 voice, pointed out that such decisions often stem from the complexities of fiat operations. Unclear regulations, reliance on correspondent banks, high compliance costs, and limited trading volume often drive these exits.
A certain compliant platform emphasized that this suspension does not mean a permanent exit from the market. The exchange continues to develop Base in Argentina—its Ethereum Layer 2 network.