Buenos Aires: Corrupt Currency Banned in Argentina
According to the details, the Central Bank of Argentina has issued an order to all financial institutions to stop all transactions related to corrupt currency and assets.
Banks in Argentina recently added the option to buy and sell bitcoins and other cryptocurrencies on their platforms in view of the growing popularity of bitcoin and other cryptocurrencies around the world.
A statement issued by the Central Bank of the Republic of Argentina (BCRA) said that not all banks and financial institutions allow their clients to conduct operations related to digital assets.
According to the statement, banks cannot provide cryptocurrency transaction services to their customers as they have not been regulated by the central bank.
The ban on cryptocurrency transactions will also apply to all assets whose returns are determined on the basis of changes in cryptocurrencies.
Earlier this week, Argentina’s largest private bank, Banco Galicia, added the option to buy and sell cryptocurrencies on its platforms.
Another private bank, Borough Bank, also offered its customers the option to buy cryptocurrencies such as bitcoin, ether, USD coin and ripple.