Argentinean Central Bank Asks Local Banks for Information on Customers Who De...
As cryptocurrencies keep gaining adoption in Argentina, there are discussions on how the national regulatory bodies should regulate the industry. The Central Bank of Argentina (BCRA) seems to have taken a step forward in making the picture clearer. Banks Should Provide Data Such as National Identification Numbers and Home Addresses According to Infobae, the BCRA asked domestic banks to forward them information about its customers who deal with bitcoin (BTC) and perform any other kind of crypto transactions. The measure aims to evaluate whether the crypto market “should be required....
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The idea of the Argentinean central bank asking local banks for information on customers who deal with cryptocurrencies is generating controversy in the local industry. A new chapter in this story has been written, as a local lawyer has filed a class-action complaint before a national court to overturn such a ruling. Argentinean Central Bank Measure ‘Violates’ Privacy Rights, Says Lawyer According to Victor Castillejo, an Argentinean lawyer, the “habeas data” complaint filed argues that the Central Bank of the Argentine Republic (BCRA) decision to ask such data is....
The Argentinean Central Bank has joined the ranks of other central banks across the globe to issue a warning on cryptocurrencies. The official statement reads: While this may seem like an echo of warnings released by other central banks, this particular statement can be interpreted from various angles. First, the mention of cryptocurrencies not having “legal tender” status may be a caveat for not only citizens but financial institutions in the country to refrain from using these currencies. On the other side, the Central Bank is promising to study these “virtual coins” and potentially....
The Central Bank of Russia has started to examine the operations of Russian banks with cryptocurrency exchangers, according to local media. Transactions between individuals through these platforms are of particular interest as the regulator believes these carry risks of financial losses and fraud.
Central Bank Asks Russian Banks for Details on Crypto-Related Transactions
In late December, the Central Bank of Russia (CBR) sent commercial banks a new reporting form for transactions, seeking information about money transfers related to crypto exchange websites. These are mostly....
A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency.
Bank Alfalah Asks Customers to Avoid Conducting Crypto Transactions
Pakistani Bank Alfalah has reportedly started sending SMS alerts to its customers, asking them to avoid carrying out cryptocurrency transactions using its banking channels.
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The Bank of England has moved closer to adopting a negative interest rate policy. The central bank has asked commercial banks in the U.K. to provide details of how ready they are to deal with negative interest rates, asserting that for the policy to be effective, commercial banks need to be ready to implement it. Bank of England Engages Commercial Banks on Negative Interest Rates The Bank of England has asked commercial banks how ready they are to implement negative interest rates. This followed the central bank’s Monetary Policy Committee (MPC) revealing that it would assess the....