New Argentine Central Bank risks strangling local fintechs

Argentina’s Central bank president pledged to cut interest rates to boost a free-falling economy and sanction a regulation for the Fintech activity. He only had informal contacts with the new BCRA leadership. The reason being, that this mechanism...

New Argentine Central Bank risks strangling local fintechs
Argentina’s Central bank president pledged to cut interest rates to boost a free-falling economy and sanction a regulation for the Fintech activity. He only had informal contacts with the new BCRA leadership. The reason being, that this mechanism was used by large companies for tax avoidance. Many supermarkets charged their customers with e-wallets and credited their funds to virtual accounts.