Argentina, argentina bitcoin, argentina cryptocurrency, Argentina economy, bank account, Central Bank of Argentina, Latin America

As cryptocurrencies keep gaining adoption in Argentina, there are discussions on how the national regulatory bodies should regulate the industry. The Central Bank of Argentina (BCRA) seems to have taken a step forward in making the picture clearer.

Banks Should Provide Data Such as National Identification Numbers and Home Addresses

According to Infobae, the BCRA asked domestic banks to forward them information about its customers who deal with bitcoin (BTC) and perform any other kind of crypto transactions.

The measure aims to evaluate whether the crypto market “should be required for an even bigger regulation or not.†Citing sources inside the central bank, Infobae details that the BCRA has sent an internal mail to the associated banks, requesting them the following data:

That said, the Argentinean central bank backs up its decision by saying that they have “functions of supervising†domestic payment systems.

Inside the email, the BCRA asks for the national identification numbers, home address, and account types of the individuals involved in crypto-related transactions. Moreover, the measure covers the bank accounts used exclusively to trade with cryptocurrencies.

Concerns Over Future ‘Excessive Regulations’

The central bank issued the following statement about the matter:

Infobae claims that experts consulted by them have mixed opinions about the BCRA’s measure, with some considering it as a correct move, according to Ignacio Carballo, director of the Fintech Ecosystem of the University Católica Argentina:

What are your thoughts on the latest move announced by the Argentinean central bank? Let us know in the comments section below.

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