Payment service providers that offer payment accounts (Proveedores de Servicios de Pago que Ofrecen Cuentas de Pago, PSPCPs) may not carry out transactions or allow their clients to make them when those transactions involve digital assets—including crypto assets—not regulated by a national authority or authorized by the BCRA.
According to current regulations, PSPCPs may not carry out the transactions mentioned above or offer them in their apps or websites.
Offering or allowing transactions refers to the availability of automated purchase buttons for users. Those interested should carry out these transactions on their own.
The measure adopted by the BCRA seeks to mitigate the risks associated with transactions with these assets that could affect the users of financial services and the national payment system. As from this regulation, the same rules apply both for PSPCPs and for financial institutions. The latter have already been subject to a similar restriction since May 2022, informed through Communication A 7506.
In May 2021, the BCRA and the National Securities Commission (Comisión Nacional de Valores, CNV) issued a document providing information on, and warning users about, the potential risks and implications of crypto assets. They also urged for caution to mitigate a potential source of vulnerability for users and investors.
May 4, 2023