The Argentinean lawyer has filed a class action lawsuit against the Central Bank of Argentina demanding to ban the regulator from collecting cryptocurrency users’ data from banks, as it is illegal.
Lawyer Victor Castillejo claims that the Central Bank of Argentina is illegally collecting cryptocurrency user data from local banks. Castillejo filed a class action lawsuit against the Central Bank demanding a ban on the receipt of such information.
In his opinion, the Central Bank violates “confidentiality and rights protected by the constitution” of every person who wants to trade cryptocurrencies. Castillejo commented on the alleged violation:
“The Central Bank of Argentina has no authority to request such data from banks and cannot evade the obligations to protect personal data provided for by Law 25.326 and Regulatory Decree 1558/2001.”
The lawyer filed a class action lawsuit with the National Administrative Court No. 10 with the aim of “obliging the Central Bank to delete the collected information and / or, otherwise, refuse to identify people based on the data received.”
The lawyer’s outrage was caused by the fact that earlier this week the Central Bank of Argentina demanded that local banks transfer information about clients who deal with BTC and carry out any other types of cryptocurrency transactions. According to the Central Bank, this is necessary in order to assess the need to tighten regulation of the cryptocurrency market.
In an email sent to all local banks, the Central Bank of Argentina requested the national identification numbers, home address and account types of individuals involved in cryptocurrency transactions.
Recall that last spring, Argentina’s financial intelligence unit insisted on tightening control over bitcoin trading in the fight against “parallel exchange markets” that threaten the Argentine peso.
According to the September Paxful online poll, 74% of Argentines believe that in the current political and economic environment, cryptocurrencies are the best way to make a long-term investment.
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