US EditionWhy You Can't Buy More Official Dollar Through Virtual Wallets
18 Articles
18 Articles
This Tuesday, September 30, it was announced that it will no longer be possible to buy official dollar through virtual wallets. Santiago Bausili, the president of the Central Bank (BCRA) confirmed this. So many people wonder why this operation can no longer be done, as several chose this means to acquire the foreign currency.Why did virtual wallets stop selling official dollar? Virtual wallets and fintech had to stop selling retail dollar after …
The decision to force virtual wallets to “turn off” the dollar purchase and sale operation is interpreted as a further restriction on the Central Bank’s ability to defend the peso price until the October 26 elections. “It’s hard not to read it as a further restriction, no matter how interpretive, one more obstacle/difficulty to arbitrations, which is what exchange restrictions are always looking for. Because arbitrations are archienemies of segm…
The government of Javier Milei and Luis Caputo is determined to maintain the scheme of exchange bands until the elections of October and although the system cracks everywhere, they cling to it in the hope that inflation will not spread. In that line, yesterday the purchase and sales of official dollars were restricted to virtual wallets, a payment modality widely used in recent years, especially among the younger ones, so the measure brought unr…
After hours of uncertainty, in a context of the rise of the dollar and rumors of new restrictions of the Central Bank, the holder of the BCRA Santiago Bausili went out to explain why two important virtual wallets stopped the sale of the official exchange rate. And he clarified that they will no longer be able to offer it on their platforms. Bausili’s statements came after Cocos Capital and Mercado Pago suspended the sale of the official dollar, …
The president of the Central Bank, Santiago Bausili, tried to de-emphasize the measure by ensuring that the only authorized entities for this operation "always were the banks and exchange houses", which is not consistent with reality. The news generated a wave of uncertainty and crossovers on social networks.
The president of the Central Bank, Santiago Bausili, clarified that the court of the sale of the official dollar in Mercado Pago and Cocos Capital was due to an erroneous interpretation of the current regulations and that it does not imply any new measure or restriction for the people. “There was no measure taken today. In regulatory terms nothing changes for human persons in the exchange market,” he said in a television interview. The clarifica…
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