Due to the desire of people to secure their savings during the crisis, interest in bitcoin is growing. A study by The Tokenist showed that 45% of respondents from 17 countries prefer to invest in bitcoin, rather than in stocks, real estate or gold. For comparison, in 2017, only 13% gave such an answer. But there is a nuance that is not paid enough attention to: the growth in the number of cryptocurrency users is due to people who are not familiar with the industry. Often people refuse to invest in digital assets for fear of blocking bank cards. Alex Axelrod, co-founder and CEO of Aximetria, analyzed scenarios of possible blocking by banks and how cryptocurrency services are fighting for the rights of their users. State interests There are two main reasons that can lead to the blocking of transactions with cryptocurrencies. These are restrictions on the part of either the regulator or the acquirer. The state may impose a limit or ban on: cryptocurrency transactions themselves; conversion of local currency, for example, into dollars or euros; settlements in foreign currency. A vivid example of blocking operations with cryptocurrencies due to the restrictions of the regulator occurred in Argentina. In the fall of 2019, the central bank first lowered the limit on the purchase of foreign currency from $ 10,000 to $200 per month, then introduced a ban on the purchase of cryptocurrencies from credit bank cards, and then a 30% tax on purchases in foreign currency. As an alternative, the regulator suggested using funds transferred from a bank account to purchase cryptocurrencies. As a result, there was no official ban on the purchase of cryptocurrencies, but local banks block such transactions. In such a situation, alternative payment systems existing on the local market remain the only way out for regulated cryptocurrency services. Then the transaction for the purchase of cryptocurrency will be divided into two phases: replenishment of the local electronic wallet with a bank card and the subsequent purchase of cryptocurrencies from the wallet balance. Such a transaction becomes a little more expensive, but still retains the ability to safely purchase cryptocurrencies. In fact, Argentines are still forced to buy untested cryptocurrency on LocalBitcoins at a completely inadequate rate. In situations where the blockages are caused only by restrictions on settlements or purchases in foreign currency, you can use a service that has transactions for the purchase of cryptocurrencies in the national currency configured. However, there are few of them, because in this case the service must either negotiate with local acquirers in each specific country, or reach out to major international players who have a certificate of compliance with the payment card industry data security standards (PCI DSS).

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