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Argentina’s central bank steps in to block new crypto offerings from banks

Published 05/06/2022, 12:39 AM
Updated 05/07/2022, 02:40 AM
Argentina’s central bank steps in to block new crypto offerings from banks

The Central Bank of Argentina (BCRA) has put the kibosh on financial institutions offering crypto trading only days after two of the country’s largest banks signaled they were opening up to digital assets.

On Thursday, the BCRA said the move was to mitigate the risks crypto poses to users and “to the financial system as a whole,” citing crypto’s high volatility, use in money laundering and absence of regulatory safeguards.

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