Argentina Bars Bitcoin Traders From Buying us Dollars

Argentina’s Central Bank has said that those who have bought Bitcoin or any other digital asset in the past 90 days with pesos are prohibited from accessing the single free exchange market (Mercado Único y Libre de Cambio—MULC) and buying US dollars at the official rate. The move of the country`s regulator aims to stop money leaving the country—which can be easily done with cryptocurrency and US dollars. Considering the fact that Argentina has one of the highest inflation rates in the world (64%), the national authorities are trying to tighten currency controls and raise interest rates to get inflation under control. At the same time, local Bitcoin holders claim that the crypto asset works as a hedge against inflation because the supply of the digital coins is capped at 21 million.


CH-019660 (Webpage Portal) 2022-07-23 (Published) 2022-08-03 (Updated)