Argentinian Central Bank to Lift Freeze on Bank Fee Increases: Sets the Ceili...
The Central Bank of the Argentine Republic says starting in January 2021, financial institutions will be able to increase the fees or commission they levy for services rendered. In its November 5 update, which effectively ends the February 19 freeze on any fee hikes, the central bank says such increases should not exceed 9% each month. Furthermore, the country’s regulations require financial institutions to communicate any intention to increase such commissions 60 days in advance. In the update, the central bank provides a list of the types of financial services where the....
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The Argentinian government has taken the first steps in the launch of its own central bank digital currency (CBDC). A new decree identified the number 207/2022 gives new faculties to the Argentinian mint to involve in the investigation, development, and issuance of digital currencies. This puts Argentina on the trail of countries like Brazil and Mexico, that are already involved in the development of their e-currencies.
Argentina Prepares the Field for a CBDC
The government of Argentina is preparing the legal field for future issuance of its own central bank digital currency, the....
The Argentinian Central Bank has issued a new set of restrictions that are affecting citizens and companies that have purchased cryptocurrency to use it as a hedge against currency devaluation. The bank will only sell dollars at an official rate to individuals and companies that have not purchased crypto for at least 90 days prior to the operation, with the objective of curbing the rise in the exchange rate.
Argentinian Crypto Users Excluded From Buying Dollars in Official Markets
The Argentinian government is trying to stop the escalade that the exchange rate of the blue dollar,....
Despite what seems to be a promising bitcoin ecosystem developing in South American, the Argentinian Central Bank has gone ahead and issued a warning on the perils of getting involved with digital currencies - the biggest of which being bitcoin. The warning makes reference to issues that have long been discussed by central banks. Digital currency is most certainly not backed by any central authority (by design), and as such, aren't considered to be legal tender. Despite that, merchants are still finding themselves tremendously interested in the promise that bitcoin holds. No excessive fees....
Brubank, one of the first Argentinian digital banks approved by the central bank of the country, is getting into the cryptocurrency business. The company announced it is now allowing customers to make cryptocurrency investments via its platform, giving them the ability to purchase crypto assets in its app. This is reportedly the second financial institution that is providing these services in the country. Brubank Introduces Cryptocurrency Services Private Banks in Argentina are starting to see the value of offering cryptocurrency services to their customers amidst a crypto boom in the....
A Nigerian Federal Court judge recently ruled that the two frozen bank accounts belonging to Rise Vest Technologies, which is accused of trading cryptocurrencies, must be reopened. CBN’s Bank Account Freeze Order Dismissed In a ruling that overturns the Central Bank of Nigeria (CBN)’s August 17 decision to freeze the bank accounts, Judge Taiwo Taiwo is quoted by The Nation insisting that the central bank could not simply rely on a mere circular when deciding to close an account. In addition, the news outlet quotes the judge explaining in his ruling that the CBN’s....