As you know, we have informed you several times in recent weeks that relatively extensive regulation of cryptocurrencies as such is planned in several countries of the world. Argentina sees no other way, and its central bank has asked all banks in the country for data on all cryptocurrency transactions, making Argentina another global government preparing to regulate them.
The Argentine Central Bank (BCRA) has thus decided, based on experts’ beliefs, that there may be potentially more than 2 million active users trading with cryptocurrencies in the country. However, BCRA emphasized that “at this stage of the initial regulation, the bank does not ask for data on buyers, but on companies that sell them.”
According to several experts, the central bank wants to focus on the so-called stablecoins that copy the price of the dollar. One senior employee of an unnamed Argentine crypto exchange also did not rule out this possibility and explained that it is quite possible that the BCRA wants to focus on tokens such as Tether (USDT) or Dai (DAI). The point is that the government and the central bank in the country lost the fight against hyperinflation last year. This set a cap on fiat transactions between the dollar (USD) and the Argentine peso (ARS) that individuals can make in banks and shops, as the central bank suspects that some individuals are using these stablecoins to circumvent strict rules on buying a dollar. In addition, the central bank also requested information on various crypto investment services as well as crypto mining services.