The Central Bank of Argentina Hit Crypto Traders Hard
The Central Bank of Argentina has restricted the sale of US dollars at the official rate to cryptocurrency traders. Not only persons trading in cryptocurrency, but also innocent investors fell under the restriction.
Any persons who purchased Bitcoin within 90 days before the release of restrictions for Argentine pesos are subject to them. This way the Central Bank of Argentina is trying to prevent the outflow of capital outside the country and inflation.
The situation with the national currency in the country is really tense – according to last month’s data, the annual inflation rate was 64%. Therefore, the Central Bank introduced these restrictions, and also raised the interest rate.