For the Bar Association, the BCRA’s decision is at odds with innovation.
It is added that a constitutional right would be violated.
The Bar Association of the city of Buenos Aires, capital of Argentina, has criticized the recent actions by the Central Bank (BCRA) affecting virtual wallets.
As CriptoNoticias reported on May 4th, These payment service providers can no longer offer trading in Bitcoin (BTC). and cryptocurrencies. One of the virtual wallets affected is Ualá, which had to shut down this service.
For the Bar Association, such a ban “entails a significant curtailment of legitimate initiatives that enable innovation, investment, financial inclusion and real employment in the country, adding new restrictions to the channels of access for users of these new available technologies”.
In addition, the Bar Association asked the competent authorities to review this measure:
«[Las restricciones del BCRA]Unlike innovation and development, they curtail basic guarantees and liberties of the nation’s residents and, in turn, violate the constitutional rights of several corporations and entrepreneurs to work, trade and engage in legitimate industry.
Statement of the Bar Association of the City of Buenos Aires
The Bar Association of the City of Buenos Aires is a professional institution representing lawyers in the Argentine capital. Its main task is to regulate and monitor the professional conduct of its members, thus ensuring ethics and competence in legal practice.
In addition, the Bar Association plays an active role in discussing legal and political issues affecting the legal profession and the rule of law in Argentina in general. It is therefore concerned with defending the independence of the judiciary and civil rights and liberties and, in cases like this, with defending the the introduction and use of new technologies that have legal and social implications significant.