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Argentina Central Bank Is Concerned by Digital Currencies, but Believes They Can Be Used for Payments

The president of the Central Bank of Argentina (BCRA) is concerned about digital currencies, although his worries aren’t related to those that accept them as payments.

Miguel Pesce is against crypto due to its volatility, the fact that it can fall victim to cyber-attacks, and because they don’t have a status of legal tender.

“We believe that we have to do [the] work of education, explaining to the population what these instruments are about to avoid generating situations in which, due to misinformation, someone makes an investment over which he has no control.”

The statement was made at an event organized by a local fintech organization, where he further criticized the term “crypto” itself as it “refers to something hidden, opaque.” However, he added that:

“One can receive payment in the instrument or in the goods one wants: in the same way that one can receive a payment in species, one can receive a payment in cryptocurrencies.”

 

Still, even if citizens choose to receive payments in digital currencies, converting them to the peso may be needed.

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