The Central Bank of Argentina (BCA) has taken measures aimed at preserving, increasing and protecting the country’s official foreign currency reserves, namely, it has banned the purchase of cryptocurrencies by credit cards.
The central bank’s measures turned out to be quite successful – they have reached the highest historical level of bitcoin trading against pesos (ARS).
Bitcoin trading volume just hit a new all-time high in Argentina.
Last week, the Central Bank restricted both the purchasing of bitcoin with credit/debit cards & limited how much US dollars citizens could buy at $200 a month.
Bitcoin is doing exactly what is was designed to do.
— Rhythm (@Rhythmtrader) November 4, 2019
BCA noted that it is still possible to buy a cryptocurrency via transferring to a bank card. Suppliers of bitcoin ATM find Argentina promising for their field of activity.