The Argentine Central Bank checks companies that offer extraordinary returns” for investments in crypto-assets-

22. Dezember 2021

Krypto News Österreich

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The Argentine central bank has announced that inquiries about cryptocurrency investment companies. In particular, the bank stated that it was investigating companies that offer exceptional returns with cryptocurrency investments that are not appropriate. According to the bank, these companies could act as Ponzi systems and are currently examining the opportunity to take legal steps against them.

Central Bank of Argentina examines crypto investment societies

The central bank of Argentina gave a yesterday they explained the measures that they have against some Grab cryptocurrency investment companies. The institution announced that it is taking a close look at some companies that offer "returns through operations with crypto-assets and cryptocurrencies that are not compatible with reasonable parameters in financial transactions". The bank also indicates the use of these platforms, whose performance and risk of investment by the institute cannot be assessed.

In some regions of the country, the bank has already taken measures against these companies, checked it by the supervisory authority for financial and stock exchange companies and issued injunctive relief orders for these activities. The bank will now act against the administrators of these companies.

Concentrated activities

Some of these alleged operations focused on certain provinces of the country and used advertising campaigns as hangers to attract more investors. The Argentine central bank discovered in two provinces, La Rioja and Catamarca, such activities that aimed at gaining supporters for participation in "non -transparent asset management systems".

fraud in connection with cryptocurrencies are not new in Argentina, but have multiplied this year. The NGO Bitcoin argentina warned against this type of regulation at the beginning of the year with which Such groups find the advantages of Popularity from crypto-assets in the country. At that time Javier said Madariaga, CEO of the organization:

We see that pyramid or ponzi schemes are repeated with crypto in various provinces of the country, and the common denominator of these fraud is a mediator who promises a great economic return by providing a capital contribution that is not guaranteed at any investment.

In terms of these operations, the Argentine central bank has also started to take measures to control the increase in these activities. The institute announced that these companies will now contact them to ask them, no longer carry out investment activities, and check whether legal steps against the alleged Ponzi systems should be initiated.

What do you think of the examination that the Argentine central bank performs against crypto investment companies? Tell us in the comment area below.

sergio goschenko

sergio is a cryptocurrency journalist based in Venezuela. He described himself as late at the game and entered the cryptosphere when the price increase took place in December 2017. With a background in computer technology that lives in Venezuela and is affected by the cryptocurrency boom at the social level, it offers a different view of the crypto success and how it helps the non-banks and under-sector.

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