- The Argentine peso is the currency that will be used for the deposits.
- The platform would also alert investors to the dangers associated with dealing with it.
The Argentine public’s enthusiasm for Bitcoin and other cryptocurrencies has been on the rise as of late. The National Commission of Value (CNV), Argentina’s securities regulator, has given the green light to local exchange Matba Rofex to begin trading regulated Bitcoin index futures contracts.
Furthermore, locals may now speculate on the value of the leading cryptocurrency. Without actually owning any BTC thanks to index futures contracts. The Argentine peso is the currency that will be used for the deposits. The approval of the CNV is a step in a larger plan to encourage people to adopt cutting-edge technology. And use a wide range of financial services.
Political and Economic Uncertainty
Moreover, the worrisome inflation rate and political uncertainty in the nation may be contributing factors to the rising hunger. To initiate such transactions, the Argentine local exchange Matba Rofex must have a legal agreement with a PSP. That is registered with the Argentine central bank. Andres Ponte, the company’s president, is proud that it was the first regulated market in Latin America to provide BTC futures.
Due to the asset class’s notorious volatility, the platform would also alert investors to the dangers associated with dealing with it. In recent years, cryptocurrency use has skyrocketed in this South American nation. Perhaps the political and economic uncertainty has piqued their curiosity.
Last summer, it was reported that the price of purchasing Tether (USDT) using Argentinian pesos (ARS) had skyrocketed, as was the case on several local crypto exchanges including Binance and Lemon Cash. This occurred at the same time that Martin Guzman resigned as Minister of Economy, a development that portended more difficulties for the home economy.
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