Argentina Moves to Restrict Crypto Payments to Illegal Online Gambling Sites

Argentina is preparing stricter rules for online gambling, with a new bill targeting banks, payment companies and cryptocurrency providers that support unauthorized betting platforms.

Argentina Online Gambling Bill Targets Crypto Payments

The government introduced the Bill for the Prevention of Gambling and Regulation of Online Gambling to Congress as part of a wider effort to reduce gambling addiction and strengthen oversight of digital betting platforms.

A major part of the proposal focuses on financial systems linked to gambling activities. Under the bill, authorities would have the power to block transactions connected to unlicensed online betting operators.

The proposal specifically states that financial institutions, payment service providers and virtual asset companies, including cryptocurrency firms, would be banned from offering services to unauthorized gambling platforms.

Crypto Exchanges Could Face New Compliance Rules

If approved, the law may require crypto exchanges and payment firms to identify and block transfers linked to gambling wallets or offshore betting sites that rely on crypto deposits.

The proposal also expands restrictions to digital advertising, meaning platforms promoting unauthorized gambling services could face penalties.

Argentina has already tightened oversight in this area. In March, a local court ordered a nationwide block on prediction platform Polymarket after concerns over unlicensed gambling activities.