The Director of Communications and co-founder of the crypto trade Lemon Money of Argentina, Borja Martel Seward, denounced the banks BBVA and Santander, claiming that they blocked and hindered the operations of his firm
By means of his Twitter account, Martel Seward challenged the 2 banks to compete as an alternative of hindering his enterprise.
“First it was with Ualá and now additionally with Lemon. In the future the dinos are going to deign to compete? ». And he added: “@pbarbieri what will we do about it? Let’s go all collectively child!”, Referring to the CEO of the cost processor Ualá, Pierpaolo Barbieri.
Lemon’s CCO printed screenshots displaying messages from the banks BBVA and Santander, indicating that operations couldn’t be carried out from the App or had been conditional.
No extra points with different banks are recognized from the opposite crypto exchanges.. In one other remark, Borja Martel stated that the digital financial institution Brubank “has an awesome product” and indicated that his firm had no issues working with that entity.
- Nevertheless, the Central Financial institution of the Argentine Republic (BCRA) itself has already begun to tighten its regulatory insurance policies with exchanges in that nation, in response to the web site criptonoticias.com.
One thought can be to discourage the proliferation of unlawful crypto exchanges by imposing further working guidelines for conventional banks in a sort of “witch hunt,” Criptonoticias famous.
Lemon just lately launched a global VISA debit card so their operations mustn’t run into difficulties with the issuing financial institution. Nevertheless, the trade’s operations with conventional banks have been affected.
The Argentine banking authorities had already requested crypto exchanges this yr to offer info on customers who had been shifting some huge cash via these corporations.
Colombia and Brazil Have Comparable Issues
An analogous scenario is happening in different Latin American nations, with obstacles additionally being reported in Colombia. Nevertheless, the top of the Monetary Superintendency of Colombia, Jorge Castaño, reported that subsequent yr they are going to be resolved.
However, in Brazil, corporations that commerce cryptocurrencies needed to overcome comparable difficulties in 2018. Not solely had been their financial institution accounts closed, however the regulatory physique dismissed their complaints.
The central banks of some Latin American nations are pointing in the direction of the regulation of cryptocurrencies in 2022. On this regard, a number of payments have already been offered within the parliaments of Argentina, Colombia and Brazil.
The president of the Central Financial institution of Argentina Miguel Pesce, steered in early August that cryptocurrencies ought to be regulated. Pesce stated on the time that the financial institution was creating methods to stop novice buyers from taking dangers when investing in crypto belongings.
An analogous opinion was expressed by the president of the Central Financial institution of Colombia, Leonardo Villar. In line with the official, “cryptocurrencies are mechanisms which have components that may very well be attention-grabbing for the long run, however that should first be regulated.”
Whereas in Brazil, half of the inhabitants is asking for Bitcoin to be authorised as authorized tender.
- The issues that some trade corporations are experiencing resulting from measures taken by banking authorities to stop cash laundering and different crimes in Latin American nations may very well be short-term.
As cryptocurrencies are regulated, the development can be for the normalization of banking operations. Exchanges and banks must work collectively to not lose their share of the rising crypto market.
