The Spanish-speaking world is seeing major cryptocurrency and blockchain developments with Uruguay approving a new bill that could be applied positively to initial coin offerings (ICOs), Cuba using crypto to access the global economy and Venezuela finally installing its first Bitcoin (BTC) ATM.
Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph en Español.
Argentinian Bitex stops accepting balance charges in U.S. dollars
Cointelegraph en Español reported on Sept. 12, that the economic crisis in Argentina is now taking its toll on the country’s cryptocurrency operations. The Bitex firm, a blockchain financial services provider, informed its customers that it will stop accepting balance charges in U.S. dollars. It explained:
“We communicate with you to inform you that for reasons beyond Bitex, as of this date, balance charges in US dollars will not be accepted at Bitex Argentina. All transfers in dollars received in Argentina made after this release will be returned to origin with the corresponding charges and taxes discounted. Those users who currently have US Dollars on the platform may request to download the balance and receive them by bank transfer to accounts of their ownership .”
Uruguay approves crowdfunding law that could be applied to ICOs
On Sept. 12, Cointelegraph en Español reported that the government of Uruguay approved a bill to promote entrepreneurship, which will regulate collective financing or crowdfunding platforms, and that could be applied to some ICOs. Lawyer Paula Rodríguez Medalla added:
"Without a doubt, this rule supposes a new legal framework for some ICOs dedicated to collective financing, so it will be essential to be attentive to the regulation that the Central Bank of Uruguay issues on the subject.”
Cuba: crypto use is gaining traction and Cubans are turning to BTC to access the global economy
Cointelegraph en Español reported on Sept. 13 that despite the silence of the Cuban government in regard to cryptos such as Bitcoin, Cubans are increasingly using cryptocurrencies to take advantage of online work, make online purchases, as well as to invest and trade.
Cointelegraph further reported that Bitcoin trading is opening new avenues for citizens in communist-run Cuba, which has been financially isolated for years under a United States trade embargo. Without access to debit or credit cards for international use, cryptocurrency-enabled purchases are a welcome opportunity for consumers. In an interview with U.S. News, local resident Jason Sanchez said cryptocurrencies were opening new doors for Cubans.
Venezuela finally installs first Bitcoin ATM
Cointelegraph reported on Sept. 13, that Venezuela had installed its first crypto ATM in the city of San Antonio del Táchira. After multiple false starts, the citizens of Venezuela can now find the country’s first Bitcoin ATM in a small convenience store called Viajes e Inversiones HC. The machine supports cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH) and DASH, as well as the official currency of Venezuela and Colombian pesos.
Venezuela’s largest bank adds support for Petro
Meanwhile, Venezuela’s largest bank, the Bank of Venezuela (BDV), reportedly added support for the country’s controversial Petro digital currency. BDV clients recently woke up to a new section in their online banking account dedicated to cryptocurrencies. At present, the crypto wallet only caters to Petro, but as the section appears to be still under development, speculation suggests more tokens could follow.
As always, Cointelegraph advises readers to approach news related to the Petro with skepticism, as the Venezuelan government has a history of deception when it comes to the state-run, oil-pegged crypto.