The online payment service said that from 9 October: "Argentina resident Paypal-users may only send and receive international payments".
Last year the Argentine government announced restrictions on the purchase of US dollars.
It has led to an increase in currency sales on the black market — but Paypal's exchange rates are better.
Locals were setting up two accounts under different email addresses and transferring money between the two, exchanging local currency pesos for dollars in the process."
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