Argentina’s Central Bank Intensifies Scrutiny of Currency Exchange Firms
The Central Bank of the Republic of Argentina (BCRA) is increasing its oversight of currency exchange operations, as evidenced by recent citations and summons issued to ARECO CAMBIOS S.A. And its representative, as well as to Pablo Gabriel Del Priore. This action signals a potential tightening of regulations and enforcement within the financial sector.
Regulatory Action Against ARECO CAMBIOS S.A.
ARECO CAMBIOS S.A. (C.U.I.T. N° 30-71628180-5) has been formally cited by the BCRA to appear before the Gerencia de Asuntos Contenciosos en lo Cambiario (GACC) within 10 business days. The summons relates to Expediente Electrónico N° EX-2024-00247305- -GDEBCRA-GSENF#BCRA and Sumario en lo Cambiario N° 8427. The bank is invoking Article 8° of Law 19.359, concerning the penal regime for currency exchange, and is offering access to free legal services, including public defenders, to the company’s legal representative.
Individual Summoned for Questioning
Alongside the action against the firm, Pablo Gabriel Del Priore (D.N.I. N° 23.606.239) has been summoned to appear before the GACC on February 27, 2026, at 11:00 hs. He is being investigated as a potential violator under Article 5°, inciso c) of Law 19.359. Failure to appear could result in a declaration of rebellion against the legal process.
Broader Context: Increased Financial Oversight
This isn’t an isolated incident. A similar citation and summons were issued to Areco Cambios SA and Del Priore in December 2025, concerning Sumario Financiero Nº 1672, EX-2025-00003725- -GDEBCRAGSENF#BCRA, relating to articles 5 of Law 18.924 and 41 of Law 21.526. This suggests a sustained effort by the BCRA to enforce financial regulations and address potential irregularities within the currency exchange market.
Implications for the Currency Exchange Market
The BCRA’s actions could lead to increased compliance costs for currency exchange firms and potentially stricter regulations. This heightened scrutiny may also impact the availability of currency exchange services and potentially influence exchange rates. The focus on both the company and an individual suggests the BCRA is pursuing a multi-pronged approach to enforcement.
Location of Proceedings
All proceedings are taking place at the Gerencia de Asuntos Contenciosos en lo Cambiario (GACC) of the BCRA, located at Reconquista 250, Piso 6°, Oficina “8601”, in the City of Buenos Aires. Appointments must be scheduled in advance via email at [email protected].
FAQ
Q: What is Law 19.359?
A: It’s the law governing the penal regime for currency exchange in Argentina.
Q: What is the GACC?
A: It’s the Gerencia de Asuntos Contenciosos en lo Cambiario, the BCRA’s department handling contentious currency exchange matters.
Q: What happens if ARECO CAMBIOS S.A. Or Pablo Del Priore fail to appear?
A: They risk being declared in rebellion, which could have serious legal consequences.
Q: Where can I identify more information about the BCRA’s regulations?
A: Information on Entities No Financieras can be found on the BCRA website: https://www.bcra.gob.ar/archivos/Pdfs/PublicacionesEstadisticas/EntidadesNo/enf012020.pdf
Did you know? The BCRA offers free legal assistance to those facing charges related to currency exchange regulations.
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