A week after the Central Bank limited the supply of cryptocurrencies through virtual wallets, the fintech Ualá suspended operations with this type of assets and announced that the 300,000 accounts opened for such transactions must settle them in the next 30 days.
Pierpaolo Barbieri, head of the company, reported the steps to be followed by his customers on Twitter. "Communication "A" 7759 of the BCRA (Central Bank) recently published prohibits virtual wallets (PSPCP) as @uala_arg offer crypto assets," he explained. "This forces us to suspend the possibility of trading Crypto, where we already have more than 300,000 open accounts. It hurts us a lot."
According to Barbieri, "all the people who have opened an account to trade crypto via Ualá have already been notified. Those who had investments will be able to decide when to liquidate their holdings in the next 30 days."
Although it is an official decision in which it had no interference, the company added that customers who sell their cryptocurrencies "will also receive an extra 5% on the amount sold in compensation and gratitude for their trust."
The businessman minimized the impact that the Central Bank's decision will have on his entire business. "Crypto is just one of the proposed investments in our ecosystem. More than 2 million people access the capital market daily via Ualá, investing in a Common Investment Fund (FCI), MEP Dollar and CEDEARs of global companies and funds. These products will continue to operate as normal," Barbieri tweeted.
Our >5 million users challenge us every day to continue creating the best financial ecosystem in Latin America. More open, more transparent, more accessible. Our commitment to that mission guides and motivates us. Full thanks for the trust and support.
What the standard says
"Payment service providers that offer payment accounts (PSPCP) may not carry out or facilitate operations with digital assets, including crypto-assets, that are not regulated by the competent national authority and authorized by the Central Bank of the Argentine Republic (BCRA)," the agency reported on May 4.
There are more than 100 digital wallets that were registered with the Central Bank as (PSPCP) payment service providers offering payment accounts. And within this universe, only a handful currently provide the service of buying and selling cryptocurrencies.
Pierpaolo Barbieri. Photo: Fernando de la Orden -
"The regulations, therefore, prevent PSPCPs from carrying out this type of operations by themselves or offering to start them from their applications or web platforms," explained the Central. "By bidding or facilitating means the availability of automated purchase buttons for the user. Interested persons must carry out the operation on their own, "explained the official communication of the agency.
NE
See also
