Coinbase Halts USDC Deposits in Argentina
Coinbase notified customers Tuesday, Jan. 6, 2026 that it will stop accepting Circle’s USDC deposits from Argentina, saying the change is part of a broader review of its product lineup intended to “deliver the most efficient experience for users” in the country. The company specified the action applies only to Circle’s USDC on its platform and did not provide an end date or clear guidance on whether withdrawals or trading of existing USDC balances will be affected.
The move removes a common on‑ramp to dollar‑pegged stablecoins for Argentine users and could push traders toward other stablecoins, peer‑to‑peer markets, local OTC desks or alternative exchanges. In Argentina — where crypto is often used to hedge peso volatility and move value offshore — restricting USDC deposits may tighten liquidity and raise conversion costs. Users and market watchers will be looking for follow‑up details from Coinbase and Circle about operational or regulatory reasons and any planned timeline for reinstatement.