Attorney Víctor Castillejo recently stated that the decision of the Argentine bank is an illegitimate action. The lawsuit seeks to pressure the bank to delete the data or not to link it to users.

Bitcoin traders recently filed a judicial appeal, called “habeas data”, against the Central Bank of the Argentine Republic (BCRA). The action seeks to stop the entity from collecting data on transactions related to Bitcoin and other cryptocurrencies.

Attorney Víctor Castillejo reported that information, stating that the decision of the monetary authority is an illegitimate action. According to the specialist, collecting data on all banking transactions related to Bitcoin goes against the privacy of users.

The BCRA’s Request for Personal Data Violates the Right of privacy

“Said information request violates the constitutionally protected rights of intimacy and privacy of those who buy crypto assets with their untainted money,” Castillejo explained.

They submitted file CAF 003776/2021 to the National Court in Administrative Litigation No. 10 under the jurisdiction of the National Chamber of Appeals in federal administrative litigation, according to judicial records.

Users Want the BCRA to Delete the Data or Not Link It to Them

The lawyer considers that no authority has the power to put together lists with data of people who acquire certain assets. He added that, if the BCRA had the authority, “that power would not allow it to avoid its obligations on protecting personal data.”

Those bitcoiners filed the lawsuit to pressure the bank to delete the data collected or not to link it to specific users. For example, people generally handle the amounts they trade and the number of transactions without indicating their first and last names.

The BCRA Requests Data to Regulate Bitcoin and Other Cryptocurrencies

In recent days, the BCRA requested from local Argentine banks information on those customers who conduct transactions related to Bitcoin. The measure would seek to determine whether it is necessary to implement new regulations on Argentina’s Bitcoin ecosystem.

Argentine financial institutions should send the data of those using the system to buy or sell Bitcoin, according to a leaked message. The BCRA requests that information by claiming its role of “surveillance of payment and securities systems.” People learned about the central bank’s decision on social networks and Infobae later confirmed it through official sources.

The Price of the Argentine Peso Led People to Turn to Bitcoin

Twitter user @pelonso533 questioned the measure by saying that “what the BCRA is doing is abusive. All they have to do is dedicate themselves to maintaining the value of the Argentine peso (ARS) to prevent us from turning to BTC.

Concerning “habeas data, it is a constitutional right that people have to protect themselves against the abusive use of their personal information. This violation also includes the handling of user data from computer systems of public or private institutions.

One of the main features of the pioneering cryptocurrency is precisely that of privacy. When central banks request users’ data that goes against the principles that Satoshi Nakamoto established when he created Bitcoin.

By Alexander Salazar


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