The bitcoin exchange Binance is preparing to expand its services in inflation-hit Argentina. Reuters reports.<\/p>\n
The platform will allow buying and selling digital assets directly through local pesos. Previously, Binance operated in the country solely as an intermediary.<\/p>\n
The company’s representative in South America, Maximiliano Hinz, said that Argentina is a key market for the exchange.<\/p>\n
\n“This launch is tied to the existing public demand here,” he added.<\/p>\n<\/blockquote>\n
The demand for cryptocurrency among locals may have been driven by inflation, which this year surpassed 100%.<\/p>\n
Argentina does not regulate cryptocurrency exchanges, but the central bank has repeatedly warned about the risks associated with them.<\/p>\n
Earlier, the local central bank restricted<\/a> crypto traders’ access to the unified foreign-exchange market and the ability to buy U.S. dollars at the official rate.<\/p>\n
On March 27, CFTC<\/span> filed a suit<\/a> against Binance and its CEO Changpeng Zhao, accusing them of unregistered derivatives trading, providing services to U.S. citizens and to those under sanctions, and failing to comply with anti-money-laundering rules.<\/p>\n
Zhao did not agree<\/a> with the characterization of many of the charges, noting that the suit contains \\”an incomplete account of the facts\\”.<\/p>\n
In the early hours of April 3, the prices of BNB and Bitcoin fell<\/a> on rumors that Interpol had issued a red notice for the Binance CEO.<\/p>\n