The Central Bank of Argentina prohibits the purchase of Bitcoin by credit card
The Central Bank of Argentina prohibits the purchase of Bitcoin by credit card.;
Argentina has put in place numerous measures to protect its national currency and limit access to the USD for the people of Argentina.
It has set a new limit of $200 per month for dollar purchases for individuals with a bank account and $100 for the dollar amount that can be purchased in cash.
These limits are not cumulative.
Among these numerous restrictive measures, the purchase of Bitcoin BTC by credit card is now prohibited in Argentina as reported in the newspaper Infobae which lists all the measures taken by the central bank of Argentina.
Regarding the purchase of Bitcoin by credit card:
“The acquisition of cryptocurrency in its various forms.
No more Bitcoin can be acquired with this payment method.
The only alternative to this investment is to do it with funds transferred from a bank account.”
Measures aimed at Argentineans who would like to travel outside the country.
The Central Bank of Argentina can easily impose restrictive measures on the use of bank cards, local banks having to comply with the directives imposed by the central bank of the country.
Argentina, which has a $50 billion debt to the IMF and is trying to extricate itself from the economic problems it faces.
The protection and stability of the national currency are therefore a priority for the government of Mauricio Macri and Guido Sandleris the President of the Central Bank of Argentina.
Measures that go so far as to prohibit the purchase of Bitcoin BTC by credit card, the cryptocurrency can then be resold precisely against dollars abroad or in the country.
Argentina Central Bank also warns that, starting in November 2019, issuers of credit, debit or prepaid cards must obtain regulatory approval from the country’s central bank before issuing cards that would be used in cross-border settlements.