CryptoBudha
    Demo
    What's Hot

    Crypto Mining Farm Uncovered in Russia’s Oldest Prison – Mining Bitcoin News

    May 22, 2022

    What Does a Risk Analysis Say About Blocknet (BLOCK) Sunday?

    May 22, 2022

    NFT Artist Beeple’s Twitter Account Hacked in Phishing Scam

    May 22, 2022
    Facebook Twitter Instagram
    • ABOUT US
    • CONTACT US
    • TERMS OF SERVICES
    Facebook Twitter Instagram
    CryptoBudha
    • Home
    • Cryptocurrency

      China Can’t Seem to Stop Bitcoin Mining

      May 22, 2022

      USA finance and payments live updates: Bitcoin drops, $400 monthly check car owners, Child Tax Credit 2022, S. – AS USA

      May 22, 2022

      Bitcoin Pizza Day With Knoxville Bitcoin Network

      May 21, 2022

      Coinbase Leads Users Astray From Bitcoin

      May 21, 2022

      Weighing whether cryptocurrency, sports and fans are a good combination

      May 20, 2022
    • Blockchain

      This Week on Crypto Twitter: Terra Conspiracy Theories Swirl as All Eyes Turn to Do Kwon

      May 22, 2022

      The blockchain promising to make Africa Web3 leader

      May 22, 2022

      Blockchain and digitization to take center stage at Davos By Cointelegraph

      May 21, 2022

      Action News Troubleshooters: Experts issue warning to protect your cryptocurrency accounts from hackers

      May 21, 2022

      Is Flow (FLOW) crypto rising on Coinbase news?

      May 20, 2022
    • ICO

      What’s a Web3 Project Really Worth? Here’s How to Tell.

      May 22, 2022

      Terra Crashed Spectacularly. Here’s How It Launched.

      May 22, 2022

      Changpeng Zhao Named Biggest Loser in History – Trustnodes

      May 21, 2022

      3 red flags that signal a crypto project may be misleading investors

      May 21, 2022

      What is Pre-Sale and Why is it Different from Other Tokensale Phases

      May 20, 2022
    • NFT

      NFT Artist Beeple’s Twitter Account Hacked in Phishing Scam

      May 22, 2022

      The Notorious B.I.G.’s digital ghost is here to sell you NFTs

      May 22, 2022

      Magic Eden Gets Sassy To Opensea On Twitter About Solana NFTs

      May 21, 2022

      CanaBoyz — Newest play2earn NFT Game

      May 21, 2022

      Footpatrol Enters the Metaverse with Exclusive ComplexLand NFT Raffle

      May 20, 2022
    • Metaverse

      What Do Community DAO and Metaverse Projects like Axie Infinity, FIREPIN, and Decentraland Have in Common? – CryptoMode

      May 22, 2022

      Cannes Brings the Metaverse to the Film Industry – Virtual Reality Times

      May 22, 2022

      Notorious B.I.G. Is Headed to the Metaverse – The Hollywood Reporter

      May 21, 2022

      Metaverse Platform Metarix Announces Diamond Partnership

      May 21, 2022

      Meta Says Metaverse Will Be Worth $3T

      May 20, 2022
    • More
      1. Analysis
      2. Regulations
      3. Mining
      4. View All

      What Does a Risk Analysis Say About Blocknet (BLOCK) Sunday?

      May 22, 2022

      Business News | Stock and Share Market News | Finance News

      May 22, 2022

      With Cardano [ADA] approaching a short-term resistance, here’s what you can do

      May 21, 2022

      IOTA price analysis: IOTA as a Trust Anchor – The Coin Republic

      May 21, 2022

      Why crypto tax is the first step to regulation of virtual currency

      May 22, 2022

      International Monetary Fund joins battle for control

      May 22, 2022

      Cryptocurrency Is ‘Based on Nothing,’ Should Be Regulated, ECB’s Lagarde Says – Regulation Bitcoin News

      May 21, 2022

      Crypto Has Made Unlikely Allies of Two US Senators, Who Say Regulation is Needed Now More … – Latest Tweet by Bloomberg

      May 21, 2022

      Crypto Mining Farm Uncovered in Russia’s Oldest Prison – Mining Bitcoin News

      May 22, 2022

      These companies are using blockchain to improve ESG compliance for the mining industry

      May 22, 2022

      Vitalik Butterin says ‘The Merge’ of Ethereum is near us, can happen in August

      May 21, 2022

      Crypto Isn’t “Adding to Society”

      May 21, 2022
    CryptoBudha
    Home»Regulations»Central Bank of Argentina Bans Private Banks From Offering Cryptocurrency Services – Regulation Bitcoin News
    photo_2022-05-06_16-38-18.jpg
    Regulations

    Central Bank of Argentina Bans Private Banks From Offering Cryptocurrency Services – Regulation Bitcoin News

    adminBy adminMay 7, 2022No Comments4 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Central Bank of Argentina has taken steps to ban private banks from providing cryptocurrency services to domestic customers. This action takes place after the two banks have begun offering cryptocurrency purchase services from the app. This measure is said to be aimed at reducing the risks associated with crypto assets.

    Central Bank of Argentina closes bank cryptocurrency offer

    The Central Bank of Argentina is strengthening its forgiveness regarding the link between crypto assets and private banks. Institutions issue documents dealing with the purchase of cryptocurrencies and the provision of trading services through these institutions and prohibit the promotion of such transactions for Argentine citizens.

    The Document explanation:

    Financial institutions use digital assets whose yields are determined based on crypto assets and registered variations, are not regulated by national authorities, and are approved by central banks, or clients perform operations. It cannot be promoted. Argentina (BCRA).

    In addition, financial institutions claim that the purpose behind this measure is to mitigate the risks faced by users and financial institutions when using these assets as a means of investment. This announcement will be made after two private banks in the country. Banco Galicia When Blue bankAnnounced that it will introduce cryptocurrencies as part of its provision of financial services to its customers.


    Other motives

    but, according to There may be other motives behind this ban by the central bank, according to some local media reports. Due to the fact that banks dealing with crypto assets are reportedly unregulated and therefore not illegal, the organization has already personally consulted with the central bank and gave a nod of approval.

    According to financial resources, cryptocurrency operations can also cause a demand for dollars that increases the breach between the official dollar price and the black market dollar called the “blue” dollar. Argentina has currency controls, which may have influenced the decision to suspend these businesses before they became more important to the economy as a whole.

    The difference between the official dollar and the blue dollar has not changed, and the latter is about 80% higher than the former, so recent trading volumes did not affect this exchange rate.

    Another possible reason for this measure is related to the transaction Argentina has entered into with the International Monetary Fund to pay its debt. Requirements It would be contrary to say that the country would stop using cryptocurrencies and allow private banks to offer these services.

    What do you think of the resolution issued by the Central Bank of Argentina that prohibits private banks from offering cryptocurrencies to their customers? Please let us know in the comments section below.

    Sergio Goshenko

    Sergio is a Venezuelan-based cryptocurrency journalist. He lags himself behind the game and states that he entered cryptocurrencies when prices rose in December 2017. Having a background in computer engineering, living in Venezuela and being influenced by the cryptocurrency boom at the social level, he offers another perspective: cryptocurrency success and it has no bank account How it helps people and those who are not well serviced.

    Image credit: Shutterstock, AIXabay, Wikicommons

    Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation for a purchase or sale, or a product, service, or company recommendation or approval. Bitcoin.com We do not provide investment, tax, legal, or accounting advice. Both the company and the author, directly or indirectly, with respect to any damage or loss caused or allegedly caused by or in connection with the use or trust of the content, goods or services described in this article. We are not responsible.

    More popular news

    In case you miss it

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    admin
    • Website

    Related Posts

    Why crypto tax is the first step to regulation of virtual currency

    May 22, 2022

    International Monetary Fund joins battle for control

    May 22, 2022

    Cryptocurrency Is ‘Based on Nothing,’ Should Be Regulated, ECB’s Lagarde Says – Regulation Bitcoin News

    May 21, 2022

    Crypto Has Made Unlikely Allies of Two US Senators, Who Say Regulation is Needed Now More … – Latest Tweet by Bloomberg

    May 21, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    banner
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    About Us:

    Your source for the serious news. cryptobudha is crafted specifically to exhibit the lest crypto related News. Visit our main page for more News or contact us

    Email : timeaustralian@yahoo.com

    We're social. Connect with us:

    Facebook Twitter Instagram
    Latest Posts

    A law professor on how blockchains, NFTs don’t protect virtual property

    April 22, 2022

    Solana’s SOL Highest Gainer Among Major Cryptos as Bitcoin Holds $47K – CoinDesk

    March 31, 2022

    BTC price hits 10-day high as trader says $42K is where Bitcoin ‘gets interesting’

    April 20, 2022
    Get Informed

    Subscribe to Updates

    Get the latest creative news about the crypto world .

    Facebook Twitter Instagram Pinterest
    • ABOUT US
    • CONTACT US
    • TERMS OF SERVICES
    © 2022 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.

    Subscribe
    Get the latest creative news about the crypto world.

    We are using cookies to give you the best experience on our website.

    You can find out more about which cookies we are using or switch them off in settings.

    CryptoBudha
    Powered by  GDPR Cookie Compliance
    Privacy Overview

    This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

    Strictly Necessary Cookies

    Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

    If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.