The central bank of Argentina has suspected several crypto companies of illegal financial transactions.
The regulator said in a statement about the beginning of an investigation into the activities of nine companies, which were allegedly engaged in mediation between investors.
They transferred fiat funds to cryptocurrency. After that, virtual coins were again converted into cash and entered the market in the form of investments. That is we are talking about money laundering, although the Central Bank did not name these companies.
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One source told reporters that a full list of fintech companies suspected of illegal transactions could be released next week. The media also found out that each startup took a commission from investors for their service when converting money into cryptocurrency through its service.
Such companies may be subject to sanctions. Note that against the backdrop of the financial crisis in Argentina, the demand for bitcoin has sharply increased, soaring in price on local crypto exchanges.