The BCRA, Argentina’s Central Bank, cited the rationale as a desire to “mitigate risks.”
The bank did not provide a detailed explanation, just saying it was for the clients’ safety.
The Central Bank of Argentina is cracking down on the cryptocurrency sector. The bank issued a statement yesterday saying that payment processors are no longer allowed to provide clients with access to cryptocurrencies like Bitcoin.
The BCRA, Argentina’s Central Bank, cited the rationale as a desire to “mitigate risks.” Several well-known businesses allow their customers to trade cryptocurrencies, such as the finance behemoth Ualá and the online marketplace Mercado Libre.
The Central Bank stated:
“Payment service providers that offer payment accounts may not carry out or facilitate transactions with digital assets, including cryptoassets, that are not regulated by the competent national authority and authorized by the Central Bank of the Argentine Republic (BCRA) to their customers.”
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