Argentina restricts access to dollar savings

The Central Bank of Argentina announced that it will restrict access to “saving dollar” requests to those who bought bitcoin or any other cryptocurrency in the last 90 days.

In addition to this, applicants must sign a commitment letter where they ensure that they will not acquire this type of asset in the following three months.

This measure was announced on July 21st, which establishes that cryptocurrency traders will not have access to foreign currency at the preferential sales rate that they established.

The savings dollar, also known as the solidarity dollar, is one that is publicly marketed through private Argentine banks for minor savers, whose rate is established based on the official exchange rate of the day added to additional taxes established by the government.

Those interested in acquiring the US currency under these conditions have a monthly limit of 200 dollars, this in order to avoid an overdemand of the currency and that this harms the Argentine peso.

K. Tovar

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Source: Diariobitcoin