NBW News Argentines Are Investing in Crypto As a Hedge Against Inflation
- Argentina is showing strong demand for cryptocurrency despite apparent federal efforts to limit its use.
- In May, Argentina’s central bank (BCRA) prohibited banks from offering cryptocurrency services that are not regulated by it. The move came shortly after one bank, Banco Galicia, launched a new crypto trading service.
- Reuters reported on Monday that many Argentines living in Buenos Aires and elsewhere are investing in crypto as a hedge against inflation, which is hovering around 60%.
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