January 22, 2021

In Argentina, banned from buying bitcoin with credit cards

Argentina's Central Bank bans citizens from using credit cards to buy bitcoin and others cryptocurrencies, reports Cointelegraph.

The regulator also limited the possibility of using credit cards in some other areas.

“It is forbidden to buy BTC with this payment method. The only remaining alternative for these investments is to use funds transferred from your bank account, " - says the cryptocurrency section.

It is unclear whether the restrictions apply to debit and prepaid cards.

The Central Bank said that a set of measures is being introduced to preserve the country's foreign exchange reserves.

Earlier, in order to prevent capital flight from the country, the regulator reduced the limit on individuals buying foreign currency from $ 10,000 to $ 200 per month, which is why Bitcoin has grown in popularity in the country.

Recall that earlier the growth in the price of the first cryptocurrency in Argentina was led by restrictions on the purchase of currency, introduced now by former President Mauricio Macri in September