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Central Bank of Argentina Mandates Banks To Supply Crypto Investors NIN,  Home Addresses


Whether to regulates or intimidates operators of cryptocurrency in Argentina, its central bank has mandated other banks in the country to supply names, National Identification Numbers and home addresses of cryptocurrency operators in Argentina.

Argentina Central Bank, ACB, wants banks to supply data on: ”Information that allows identifying customers who have accounts for holding crypto assets or who have declared or are known to carry out purchase and/or sale cooperation and/or management of payments through/of crypto assets.

”As part of the process, the banks were consulted to determine the volume and depth of the use or purchase of crypto assets. It is a common practice to ask banks for information on different topics of interest before proceeding with the elaboration of regulations.

”The global phenomenon of cryptocurrencies, together with their benefits and potential risks for economic systems, is something that is currently being debated in all global organizations and forums. Since the genesis of every financial regulator must be to make decisions based on evidence, the study and proper monitoring of the crypto world becomes fundamental, just as the BCRA would be doing.”

This memo from ACB to banks is coming against the backdrop that cryptocurrencies keep gaining adoption in Argentina.

Many believe that the measure aims to evaluate whether the crypto market “should be required for an even bigger regulation or not.”

Citing sources inside the central bank, Infobae details that the BCRA has sent an internal mail to the associated banks, requesting them to do the aforementioned.

READ ALSO: Microstrategy’s Bitcoin Reserves Hits 91,579, Buys Additional $15m Monday

Infobae, reports that 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.

Other data requested include bank account types of the individuals involved in crypto-related transactions and bank accounts used exclusively to trade with cryptocurrencies.


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