Argentine Authorities Set Sights on Crypto Payments
Argentina’s central bank has put a stop to payment providers offering crypto transactions, aiming to limit the country’s payment-system exposure to digital assets. The move impacts fintechs and financial institutions alike, as both are now prohibited from facilitating crypto services through their apps.
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The central bank stated, “Payment service providers that offer payment accounts may not carry out or facilitate operations with digital assets, including crypto assets, that are not regulated by the competent national authority and authorized by the Central Bank of the Argentine Republic.”
The decision leaves the future of Argentina's local crypto industry uncertain, with payment providers remaining silent on the matter. The fintech chamber has called on the government to reconsider, claiming (https://twitter.com/CamaraFintechAr/status/1654505641006837765?s=20) that “it limits access to a technology that offers multiple benefits and opportunities for our society.”
Will this decision hinder the growth of Argentina's crypto market, or is it just a temporary obstacle?
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