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%.

[Via]