Wednesday, October 5

BCRA investigates alleged cryptocurrency scams

The Central Bank investigates the actions of companies that capture deposits and offer extraordinary returns through operations with crypto assets and cryptocurrencies that are not compatible with reasonable parameters in financial operations. The entity carried out inspections in several provinces and adopted cessation orders on these practices. In addition, it will initiate the corresponding summary and judicial actions to protect the public, the BCRA reported in a statement. On this occasion, advertising campaigns were detected in some provinces, such as La Rioja and Catamarca, aimed at attracting investors with little-transparent asset management schemes. “The BCRA ordered to intimidate the companies that are offered through web platforms not to carry out financial intermediation operations and analyzes if the criminal complaint for the presumption of a fraud maneuver assimilable to Ponzi schemes is appropriate,” remarked the monetary authority and He recalled that crypto assets can carry risks for savers.