The Central Bank of Argentina has taken steps to tighten regulations on Bitcoin and other cryptocurrencies. The move comes amid concerns about the potential risks posed by cryptocurrencies to the country's financial system.
According to reports, the Central Bank has directed banks and payment providers to scrutinize cryptocurrency-related transactions more closely. Under the new rules, banks are required to report any suspicious or unusual cryptocurrency transactions to the Central Bank's Financial Information Unit (FIU).
The Central Bank has also reportedly instructed payment providers to suspend or cancel any transactions involving cryptocurrencies that are deemed to be high-risk or suspicious. The move is part of a broader effort by the Argentine government to crack down on money laundering and other illicit activities.
The move has garnered criticism from some in the cryptocurrency community, who argue that it could stifle innovation and prevent legitimate businesses from accessing financial services. However, others have praised the Central Bank's efforts to protect consumers and prevent financial crimes.
(By Mat Di Salvo)
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