The Central Bank of Argentina (BCRA) has just restricted crypto traders from accessing the single exchange market and buying US dollars at the official exchange rate.
The ban reportedly applies to anyone who has purchased Bitcoin or other digital assets using the Argentine peso during the last 90 days.
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The aim of the measure is to combat capital outflows from the country with the help of cryptos and the US dollar.
Argentina is reportedly tightening currency controls and raising interest rates in order to control inflation, which last month amounted to 64%.
One of Argentina's largest banks, Banco Galicia, began in May allowing its customers to buy Bitcoin, Ethereum, XRP and USDC, whereas Brubank also announced the launch of a similar service.
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In response, the BCRA banned local lenders from offering digital asset-related services to their customers.