In Argentina, SatoshiTango made it clear that transactions to buy or sell cryptocurrencies, including the stablecoin DAI, will continue in the normal way. Cointelegraph consulted in view of the concerns that have recently arisen in this country due to recent cases of user dissatisfaction, such as Buenbit (suspension of DAI / USD business) or BBVA Bank (suspension of dollar accounts) in Spanish Matías Bari, co-founder and CEO of SatoshiTango, to learn more about his situation.
Bari said: “We work normally. In Argentina there is no limit to the purchase of cryptocurrencies, neither in pesos nor in dollars.“”
Then he added: “In the case of SatoshiTango, we are working in the currency of the country we are in for strategic reasons and our transactions have not been affected“”
“”We understand that the issue is caused by other issues related to each operator and the central bank, but it has nothing to do with buying / selling crypto“He remarked.
He also emphasized this The DAI operations launched in March now account for 15% of SatoshiTango’s movements.
SatoshiTango alternatives to avoid the “stocks”
Cointelegraph en Español reported on May 27 SatoshiTango urged users to use some options to circumvent the foreign currency purchase restriction in any way.
“”Don’t get caught up in the MEP dollar and CCL stocks: switch to the digital dollar now”Was one of the invitations that the signature made to the users.
It should be noted that MEPs and CCLs are two of the dollar quotes in Argentina (there are many more). MEP means “electronic payments market”. On the other hand, CCL is the abbreviation for the quote “cash with liquidation” or “cash with liquid”.
As the government increasingly restricted the purchase of US dollars, they invited the citizens of SatoshiTango to look for alternatives. One of them is the stablecoin DAI.
“”I have invested in the digital dollar: the Dai or Digital Dollar is a cryptocurrency that is tied to the value of the US dollar. You can redeem Dai for his dollar equivalent at any time“They referred to the signing.
Buenbit has discontinued DAI / USD operations
Argentina is a country with severe restrictions on the purchase of US dollars. In this context, some cryptocurrencies, especially in stable coins like DAI, saw an alternative to avoid the so-called “foreign exchange holdings”. However, Buenbit has also ceased DAI / USD operations for citizens of this country. This was reported to customers via email.
Control by the FIU
According to a July 13 article in El Cronista published by Mariano Gorodisch in Argentina, the Financial Investigations Unit (FIU) will collect information about agents involved in the crypto asset market to identify the most important ones Actors and the volume of transactions made. Gorodisch explained that this body is trying to control those who buy dollars with cryptocurrencies. According to this publication, operations with cryptocurrencies or virtual assets are specifically being pursued by the FIU.
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