Yesterday the Central Bank of Argentina (BCRA) announced measures to discourage financial institutions from offering services related to digital assets, including cryptocurrencies.
This follows the launch on Monday of cryptocurrency offerings by Argentina’s largest private bank, Banco Galicia, and neobank Brubank. The service was added alongside other investments in their banking apps. These banks could now possibly be forced to stop these offerings.
The BCRA says that it aims to protect customers and the financial system as a whole by mitigating the risks that it believes are associated with digital assets, such as high volatility, cyberattacks, and money laundering.
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