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Argentina Banned Bitcoin Purchasing With Credit Cards

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The Central Bank of Argentina has forbidden citizens to buy Bitcoin and other cryptocurrencies with credit cards. The regulator also limited the possibility of using credit cards in some other areas.

Acquisition of Bitcoin and cryptocurrencies: It is prohibited to purchase BTC with this payment method. The only remaining alternative for this investment is to do so with funds transferred from a bank account.

It is unclear whether the restrictions apply to debit cards too. The Argentina's Central Bank said that a set of measures is being introduced to preserve the country's foreign exchange reserves.

Earlier, in order to prevent capital outflows from the country, the regulator reduced the limit on individuals buying foreign currency from $ 10,000 to $ 200 per month, against which the popularity of  Bitcoin has grown in the country.

Recall that earlier the growth in the price of the first cryptocurrency in Argentina was led by restrictions on the purchase of currency, introduced now by former President Mauricio Macri in September.