Central Bank of Argentina announced on October 31, that citizens are now prohibited from using credit cards to buy Bitcoin (BTC) or other cryptocurrencies, all of these after the recent imposed limits on U.S dollar purchases. The news was initially reported on Nov. 1 by Cointelegraph Brazil.

All about the preservation of the remaining forex reserves.
The measures were published in a communication covering several industries in which credit card use was limited and in some cases, prohibited. The section referring to cryptocurrency reads:

“Acquisition of Bitcoin and cryptocurrencies: It is prohibited to purchase BTC with this payment method. The only remaining alternative for this investment is to do so with funds transferred from a bank account.”

The rules are applied to credit cards but it is unclear whether debit and prepaid cards are also included.

Those measures are critical to preserving the country’s foreign exchange reserves, says BCA.

Seeking for stronger exchange control, experts say that the central bank would intend to block the entry of dollars into the country.

BCA earlier this week has made a move to limit the amount of U.S Dollars Argentinian citizens could buy each month. From the maximum amount of 10,000, they reduced it to just 200.

At the time this caused a spike in Bitcoin, which these latest measures would seem to address.

bitcoin
Bitcoin (BTC) $ 9,531.25
ethereum
Ethereum (ETH) $ 237.08
tether
Tether (USDT) $ 0.998673
ripple
XRP (XRP) $ 0.204861
bitcoin-cash
Bitcoin Cash (BCH) $ 241.36
bitcoin-cash-sv
Bitcoin SV (BSV) $ 192.81
litecoin
Litecoin (LTC) $ 46.00
binancecoin
Binance Coin (BNB) $ 17.32
eos
EOS (EOS) $ 2.68
cardano
Cardano (ADA) $ 0.078457
tezos
Tezos (XTZ) $ 2.92
chainlink
ChainLink (LINK) $ 4.36
okb
OKB (OKB) $ 5.27
crypto-com-chain
Crypto.com Coin (CRO) $ 0.085958
stellar
Stellar (XLM) $ 0.073188
monero
Monero (XMR) $ 64.58
leo-token
LEO Token (LEO) $ 1.16
tron
TRON (TRX) $ 0.016295
huobi-token
Huobi Token (HT) $ 4.06
ethereum-classic
Ethereum Classic (ETC) $ 6.94
neo
NEO (NEO) $ 11.33
usd-coin
USD Coin (USDC) $ 0.999005
dash
Dash (DASH) $ 76.43
iota
IOTA (MIOTA) $ 0.222738
cosmos
Cosmos (ATOM) $ 2.74
zcash
Zcash (ZEC) $ 51.48
vechain
VeChain (VET) $ 0.006547
maker
Maker (MKR) $ 453.37
nem
NEM (XEM) $ 0.042987
ontology
Ontology (ONT) $ 0.560753
basic-attention-token
Basic Attention Token (BAT) $ 0.219466
dogecoin
Dogecoin (DOGE) $ 0.002576
ftx-token
FTX Token (FTT) $ 2.99
theta-token
Theta Network (THETA) $ 0.282804
paxos-standard
Paxos Standard (PAX) $ 1.00
omisego
OmiseGO (OMG) $ 1.63
digibyte
DigiByte (DGB) $ 0.017055
0x
0x (ZRX) $ 0.328181
hedera-hashgraph
Hedera Hashgraph (HBAR) $ 0.044287
enjincoin
Enjin Coin (ENJ) $ 0.213065
algorand
Algorand (ALGO) $ 0.246899
icon
ICON (ICX) $ 0.336273
zilliqa
Zilliqa (ZIL) $ 0.016388
decred
Decred (DCR) $ 14.77
qtum
Qtum (QTUM) $ 1.78
lisk
Lisk (LSK) $ 1.22
binance-usd
Binance USD (BUSD) $ 0.999152
bitcoin-gold
Bitcoin Gold (BTG) $ 9.13
augur
Augur (REP) $ 13.09
true-usd
TrueUSD (TUSD) $ 0.997714