Argentine Central Bank President says Cryptocurrencies Must Be Monitored

The President of the Central Bank of Argentia shared his point of view on the crypto and crypto market in a virtual meeting. 

A virtual meeting conducted by the Argentine Chamber of Fintech. And the main aim of this meeting was to do discussion on the crypto towards its negative and positive aspects.

Miguel Pesce, president of the central bank of Argentia, said that crypto is highly volatile and the Argentine bank noted earlier. 

Pesce said that here it is our main duty to monitor the crypto perfectly so that we can restrict the flow of money. And can stop the crypto transactions which are violating the rules of foreign money exchange.

The one thing we should  notice here is that Pesce is not against crypto. They want to make sure whether crypto is not violating the FEMA rule. And also in the meeting he shows his Support for the Fintech based company, blockchain technology adoption.

Pesce said that banks should change their working system according to the change in the present financial market and system and they should adapt the blockchain technology. 

“This is so, it is the rule of the Central Bank. One can receive the payment in the instrument or in the goods that he wants: in the same way that you can receive a payment in kind, you can receive a payment in cryptocurrencies.”

Well here we also should not think that Bitcoin is something strange for the citizens of Brazil. In the 2019 history, many of the Brazilian moved in the crypto and traded bitcoin at very high price and also very high volume  recorded. In 2019, most of the stock assets traders entered crypto because of the high stock market crash. 

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