NGO Bitcoin Argentina condemns the BCRA’s ban on cryptocurrency operations by financial institutions

NGO Bitcoin Argentina condemns the BCRA’s ban on cryptocurrency operations by financial institutions

The non-profit organization, NGO Bitcoin Argentina, issued a statement, expressing its disagreement with the measure taken by the BCRA, Central Bank of the Argentine Republic, on the prohibition of cryptocurrency operations by banks, issued on May 5.

After Banco Galicia and digital bank Brubank make new crypto services available to their customers on their homebanking platforms, The Central Bank of the Argentine Republic, ruled in a statement, where it prohibited carrying out operations with crypto assets.

Consequently, the crypto community reacted and made its discontent public, alleging that there is no legal provision that justifies the decision. In this regard, the Bitcoin Argentina statement states that:

“The NGO highlights that the reasons put forward for this prohibition are not only opportunistic, but are not framed within the legal requirements and prohibitions of Commercial Banks, and represent an enslavement of their freedoms and reduce the options of citizens to protect your capital and the fruit of your effort at your discretion.”

Also, dHe stressed that the new services offered by these financial entities allowed the acquisition of digital assets “in an easy, legal, totally blank way, paying taxes and with custody carried out by duly regulated banking entities”.

Lastly, the organization urged the national State to “to fully enter the 21st century and that the complete and express legalization of Bitcoin would have as a consequence both an improvement in tax collection as well as an increase in the level of individual freedom so that the administrators can save in the means they wish”, they expressed.

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