Having imposed limits on purchases of US dollars, the Central Bank of the Republica Argentina (BCRA) announced that citizens are prohibited from using credit cards to buy Bitcoins (BTCs) or other cryptocurrencies. The news was reported by Cointelegraph Brazil on November 1st.
The measures have been published in a communication concerning the various sectors in which the use of credit cards is limited or prohibited. The cryptocurrency section reads:
“Acquisition of Bitcoins and cryptocurrencies: it is forbidden to buy BTC with this payment method. The only remaining alternative for this investment is to do so with funds transferred from a bank account. "
It is not clear if the rules are valid only for credit cards or even for debit and prepaid cards.
The BCRA states that these measures are essential to preserve the country's monetary reserves.
Bitcoin only part of a larger crackdown
According to experts, the central bank intends to block the entry of dollars into the country.
A few days ago, the BCRA reduced the amount of US dollars that Argentine citizens can buy each month. The maximum amount went from $ 10,000 to just $ 200.
This caused a spike in Bitcoin trading, which these latter measures seem to try to solve, at least partially.
Source link
https://it.cointelegraph.com/news/argentinas-central-bank-bans-bitcoin-purchases-with-credit-cards
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