BUENOS AIRES : Crypto exchange Binance, which has been sued by U.S. regulators, said on Tuesday it is expanding services in inflation-hit Argentina, allowing users to buy and sell digital currencies directly with local pesos.
"This launch has to do with the public demand that exists here," Maximiliano Hinz, director for Binance in the Southern Cone, told Reuters in a written statement on Tuesday, adding that Argentina was a key market for the exchange. The expansion in Argentina, where annual inflation above 100 per cent has made cryptocurrencies more attractive despite their volatility and risk, comes as Binance faces regulatory scrutiny in the U.S. and elsewhere.
Zhao, a China-born billionaire who moved to Canada at age 12, has called the CFTC's complaint"unexpected and disappointing."
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