Coinbase pauses Argentina operations less than a year after entering the local market.
The exchange has halted peso-based services while keeping cryptocurrency trading active. The move follows an internal review of its regional performance.
Coinbase confirmed that the pause affects fiat access but not on-chain activity. The company said Argentina remains important to its long-term strategy. It also stated that a return with improved services is planned.
Coinbase halts peso services but keeps crypto trading active
Coinbase informed Argentine users that peso transactions will stop at the end of January 2026. Users will no longer buy or sell USDC using local currency. The exchange did not provide a specific reason for the suspension.
The firm said crypto transfers and wallet activity will remain available. Users can still send and receive supported digital assets. Trading pairs that do not require pesos will also stay accessible.
A company spokesperson described the decision as a strategic pause. The review focused on product performance and sustainability in local conditions. Coinbase said the pause allows time to improve its offering.
The exchange entered Argentina after securing regulatory approval in 2024. It officially launched local services in January 2025. The sudden pause raised questions within the regional crypto community.
Argentina remains a key market despite the pause
Coinbase stressed that it continues to value Argentina as an innovation hub. The company linked this view to its mission of expanding economic freedom. Latin America remains a core focus for future growth.
Market analysts noted that interest in Argentina remains strong among crypto firms. The country has seen increased adoption amid currency instability. Both domestic and foreign companies have expanded operations.
Recent moves support this trend across the ecosystem. Ripio launched a peso-pegged stablecoin for local users. Nexo acquired Buenbit as part of its regional expansion strategy.
These developments highlight confidence in Argentina’s crypto demand. Observers said Coinbase’s pause contrasts with broader market momentum. Still, they view the decision as tactical rather than permanent.
Bitfarms halts mining after unexpected power outage
Coinbase was not the only firm to stop operations in Argentina. Bitcoin miner Bitfarms also suspended activity at its Rio Cuarto facility. The company cited an unexpected power outage.
The outage began on May 12, according to its first-quarter earnings report. The disruption involved Generación Mediterránea S.A., the local energy provider. The supplier was undergoing a financial restructuring process.
Bitfarms said the outage created uncertainty over power restoration. The company began exploring alternative options for the site. It warned of operational risks if the issue persists.
The Argentine facility generated about $6.9 million in first-quarter revenue. That figure represented around 10% of total revenue. Bitfarms said the halt could affect future performance.
Coinbase pauses Argentina operations at a time of active regional growth. The company insists the move is temporary and strategic. Market watchers will track whether improved services follow the pause.
