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Argentinian Central bank faces action over crypto user data

Posted:Apr 09, 2021 09:22 Category: Americas , Regulatory , Posted by
Stanley Yin

Argentinian lawyer, Victor Castillejo, filed a complaint against the Central Bank of the Argentine Republic over data protection

Victor Castillejo has stated that the “habeas data” complaint that was filed against the Central Bank of the Argentine Republic (BCRA) argues that asking local banks for information on crypto users is illegal.

Castillejo claims that there is a violation in “privacy, human rights, constitutionally protected” of every user who is trading in cryptos, such as Bitcoin. The Argentinian lawyer provided the following on the matter:

Victor Castillejo - AIBC News

“The BCRA does not have the power to compile a list of these characteristics, and if it does, that power does not allow it to avoid the obligations regarding the protection of personal data provided by Law 25,326 and Regulatory Decree 1558/2001.”

Castillejo filed the action before the National Court in Administrative Litigation No. 10 in Argentina and aims for the BCRA to delete any information they have collected. If this fail the class action habeas data will also seek to “disassociate the data that it has requested.”

The BCRA has requested information from local banks about customers who trade and deal in bitcoin and any other crypto transactions. The information requested by the Central Bank are:

  • National ID numbers
  • Home address
  • Account types

The reason the BCRA are requesting this information is to evaluate whether the crypto market requires an extensive regulation.

Source: News.bitcoin

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