Argentina, a country battered by sky-high inflation, is restricting Bitcoin traders from buying U.S. dollars at the official exchange rate in a bid to tame capital flight.
In a Thursday announcement, the country’s central bank said that those who have bought Bitcoin or any other digital asset in the past 90 days with pesos will not be able to access the single free exchange market (Mercado Único y Libre de Cambio—MULC) and buy dollars at the official rate.
The idea is to stop money leaving the country—which can be easily done with cryptocurrency and dollars. If a person or company has pesos in their account, and they use them to buy U.S. dollars from a regulated exchange, they can then use those dollars to invest in cryptocurrencies such as Bitcoin.
Comunicado "A" 7552 del BCRA
El BCRA prohíbe a las empresas importadoras y personas humanas acceder al dólar oficial si compararon criptomonedas con PESOS en el día que solicitaron el acceso al mercado y en los 90 días previos.
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