The exchange states that its policy is to operate with the local fiat currency of each country. They explain that they adapt to the “current situation” of the place where they operate.
In recent days, Bitcoin and cryptocurrency exchange Bitex eliminated the possibility of sending US dollars to bank accounts in Argentina. The platform will reject and will not process the requested transfers, as they informed their users through e-mail communication.
Concerning explanations about the matter, María Eugenia Vázquez said that the online company Bitex decided to serve in Latin America operating in the local currency of each country.
Besides, she made it clear that the change “does not impact the operation of the Bitex International C.V. market with US dollars or the upload and download of balance in Argentine pesos.”
This explanation is in line with the objective that they had set in August 2018, when they started operations in Argentina, Uruguay, Chile, and Paraguay. “Bitex’s goal is to provide simple and efficient access to Bitcoin in local currency,” said Manuel Beaudroit, who served as the company’s marketing director.
Bitex Users’ Reaction
Until now, the reaction of users has been of understanding, according to Bitex. “They understood that we work to provide the best service while adapting to the current situation of each country in which we operate,” they stated.
Even so, some expressed their disagreement on social media. Among them, renowned bitcoiner Franco Amati commented on Facebook that “it would be good sometime to see a company saying things the way they are and explaining the reason for that. However, deep inside we know where the thing comes from.”
“Current Situation” in Argentina
The current Argentine situation to which Bitex refers is a progressive increase in state restrictions to access the US fiat currency. Also, some maintain that the government is preparing to restrict the possibility of accessing US dollars through the sale of cryptocurrencies (which is known as the “Bitcoin dollar”).
Several months ago, there was a circulating rumor that no exchange was confirmed officially. According to the unfounded report, the government intimidates (or “squeezes”) Argentine exchanges so that they stop operating with US dollars.
Even so, attorney Ricardo Mihura Estrada, a member of the NGO Bitcoin Argentina, explains that “there is no limitation to buy Bitcoin or any other cryptocurrency with US dollars.”
Alternatives to Operate with Bitcoin and USD in Argentina
Some months ago, another Argentine exchange, Buenbit, had canceled its operations in USD. However, a few days later it reversed the measure, and they are enabled again.
It is also possible to operate with this fiat currency through the bank at Decrypto, SeSocio, and Qubit. Concerning cash, they continue to accept SatoshiTango dollars (only in the City of Buenos Aires, since the user make the withdrawal of the banknotes in person) and at the Athena ATM located in the Walmart Constituyentes supermarket.
By Willmen Blanco
