Argentinean Banks could give BTC Price Tracker options to Clients \ stacker news ~econ

https://twitter.com/Alerta140/status/1779598003919102069 El Gobierno analiza habilitar la compra de bitcoin y criptomonedas a través de bancos y billeteras virtuales. “Puede salir en cualquier momento, los bancos están muy interesados”.

Context: last year, the biggest traditional bank in Argentina (Banco Galicia) launched an option to buy BTC to all their clients. It was a Custodial BTC, non withraw option than to sell. Nevertheless it was a good option to sell your Argentinean Pesos and be tied to Bitcoin Price (which is now ATH in Argentinean Pesos by far). Only 3 days after the launch of this service, the leftist Government of Alberto Fernandez/Cristina Kirchner/Sergio Massa forbidden this option. All funds were given back.

Today, 3 months since the beggining of Javier Milei's administration, the government could allow it to all banks.

They already issued regulations (not that I am in favor) to all Banks and Fintechs to be in accordance to FATF, prior to open this possibility to banks.

It is not clear yet, if under this new administration, the services will be an only price tracker or ETF spots.

0 sats \ 1 reply \ @nym 15 Apr

I wonder if they will let the customers of the banks to self-custody their Bitcoin?

6 sats \ 0 replies \ @SwearyDoctor 15 Apr

i doubt it. If they offer paper btc, they can offer access, but the customers can't get the money out of the country that waz, which makes it much safer for a country in hyperinflation that already has a cash flow problem.