The Argentine Central Bank has banned citizens …

Argentine Central Bank has banned citizens from buying bitcoins with credit cards

The central bank of the Argentine Republic has banned citizens of the country from using credit cards to buy bitcoin and other cryptocurrencies, writes Cointelegraph.

On October 31, the Central Bank of Argentina sent out a message that indicated several industries in which purchases using credit cards are prohibited or restricted..

“Acquisition of Bitcoin and Cryptocurrencies: It is forbidden to buy BTC through this payment method. The only remaining alternative for this investment is to transfer funds from a bank account, “the document says..

Whether it is forbidden to buy bitcoins using debit or prepaid cards, the regulator did not specify. He, however, stressed that the measures taken are critical to preserve the country’s foreign exchange reserves..

The Argentine Central Bank has banned citizens ...

Earlier this week, the Central Bank of Argentina announced a 50-fold decrease in the limit on the purchase of dollars per month for citizens – from $ 10,000 to $ 200. According to experts, the decision was due to the uncertainty prevailing in the market and is temporary – it is planned to lift the restriction in December.

Along with these events, the peer-to-peer platform Localbitcoins recorded the third-largest trading volume in Argentine pesos of all time, which was also facilitated by the depreciation of the fiat currency itself..

The Argentine Central Bank has banned citizens ...

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