The directory of the Central Bank of Argentina is reportedly producing a new set of regulations to better understand what's happening with the funds of digital wallets and improve their KYC measures.
The Central Bank of Argentina is reportedly working on a new group of regulations seeking to control the totality of the digital wallets in the country. This new legal framework is directed at stopping fraud said to be facilitated by these tools. According to leaks on local media, the publication of the law is imminent.The Central Bank of Argentina has its sights on the use of digital wallets.
producing a new set of regulations to better understand what’s happening with the funds in these wallets and improve their KYC measures. Regarding how this will be implemented, it stated:It is not about prohibiting anything, but about applying the same rules that banks must comply with today in relation to knowing their customers.
the funds in digital wallets of taxpayers with debts. Almost 10,000 taxpayers are expected to have their digital wallets confiscated in the coming months.that the first case of these seizures has already happened. The first confiscation was reportedly requested by the AFIP and a judge authorized the institution to take control of the funds in the digital account to pay debts accumulated by the user.
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