Argentina bans cryptocurrency under pressure from IMF

The Central Bank of Argentina has banned banks from conducting any transactions with unregulated digital assets. This happened 2 days after local banks offered their clients cryptocurrency transactions. This action of the regulator may be related to the plan to extend the $ 44 billion debt from the International Monetary Fund, according to which Argentina should do everything possible to avoid using cryptocurrencies. By the way, the IMF is also unhappy with the Central African Republic, which recently legalized bitcoin. Argentines need crypto due to the rapid growth of inflation and the depreciation of the peso. Inflation in the country rose by 6.7% in March, the highest rate in 20 years. In annual terms, inflation is a catastrophic 55%.