Central Bank of Argentina issues new compliance rules for digital wallets
09/15 11:49
According to Bitcoin.com, the rise of digital money and crypto in Argentina is causing regulators to pay attention. The Central Bank of Argentina recently issued a set of rules to heighten the level of protection users of popular digital wallets in the country receive. Customers of Uala and other digital wallet providers will now have to be treated as financial users, having protections close to those offered to bank users.
This means that these entities will have to name customer support representatives and solve common problems in less than ten days. Also, the digital wallet companies will have to adapt their terms of service and conditions to fulfill requirements of the central bank regarding financial contracts.
In the same way, the companies will have to provide an easy way for users to revoke services already accepted by these products, and also to close their accounts with these companies in an easy way, a common issue cited by users.
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