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Crypto Exchange Binance Expands In Argentina
Binance, a cryptocurrency exchange that has been sued by American regulators, announced on Tuesday that it is expanding its services in inflation-stricken Argentina by enabling users to buy and sell virtual currencies using local pesos.
With a local partner, the move enables Argentines to deposit pesos into a Binance account that can later be used to buy cryptocurrencies. As of right now, Binance has only been active in Argentina as a platform that connects buyers and sellers of cryptocurrencies.
The growth comes as Binance is under regulatory investigation in the US and other countries, where annual inflation is above 100% and has made cryptocurrencies more alluring despite their volatility and risk.
(With inputs from Shikha Singh)
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