Amidst skyrocketing inflation, Argentina’s central bank has tightened crypto regulations, imposing new restrictions on financial institutions and payment providers from offering services related to digital assets.
The measures are aimed at reducing the use of cryptocurrencies for evading capital controls and managing inflationary pressures.
Argentina, one of the top adopters of cryptocurrencies in Latin America, has seen a surge in Bitcoin and stablecoin usage as citizens seek to preserve their wealth amid the country’s economic instability.
The central bank’s move has drawn criticism from crypto enthusiasts and businesses, who argue that it stifles financial innovation and limits access to alternative assets that can hedge against inflation.
