News
A new survey suggests that most Salvadorans still don't have a clear understanding of Bitcoin or crypto.
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Latin America News
Latin America is a group of countries which are located in the Western Hemisphere and where Spanish, Portuguese and French are most-spoken languages. Most of Latin American countries are in South and Central America. Despite fitting the definition, areas of Canada and United States where English is not the predominant language are not referred to as Latin America. The Latin American economy is an export-based economy, mostly consisting of agriculture, petroleum and manufacturing. The main Latin American economies are Argentina and Brazil, with large GDPs and strong rates of growths in last few years. Still, many countries in Latin America still suffer from high crime rates, low education and human development. Because of these factors, Latin American countries have yet to establish a strong fintech and innovation-based industry.
- News
Bitcoin-as-a-payment is becoming reality in El Salvador after the country formally recognized the cryptocurrency as legal tender.
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Mexican crypto exchange Bitso was announced as a core partner for El Salvador's state-issued BTC wallet.
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Chilean Peso-pegged stablecoin CLPX launched on Stellar this week and is hoping to gain traction in the remittance and copper markets.
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A Uruguayan senator has introduced a bill seeking to “establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies.”
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El Salvador’s decision to accept Bitcoin as legal tender in June appears to be influencing lawmakers across the region to begin exploring their own cryptocurrency strategy. Paraguay is next in line to introduce new crypto-focused legislation.
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ECLAC executive secretary stressed that there is no study yet that would have investigated potential risks or benefits of El Salvador accepting BTC as legal tender.
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Apple co-founder Steve Wozniak declared “Bitcoin is the only digital gold” years ago, but he claims that he still hasn’t invested in BTC.
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Victoria Nuland said the United States was taking a "tough look at Bitcoin" following a major ransomware attack and suggested El Salvador take a similar approach.
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2TM GRoup, the company behind Mercado Bitcoin, is now valued at $2.1 billion. It's the second crypto exchange in Latin America to eclipse the $1 billion valuation mark.
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A warning from the country's financial regulators seemed to be specifically targeting Ricardo Salinas Pliego, who on Sunday said he would explore his bank accepting Bitcoin.
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Brazilian asset manager QR Asset Management started trading its Bitcoin exchange-traded product on B3.
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New tech that reduces costs of international payments would “be a boon for poor countries that rely on remittances” — but will BTC as legal tender fix that?
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The World Bank has refused to support El Salvador’s request for help in the transition to use Bitcoin as legal tender.
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A 2001 law on monetary integration in the country states that salaries and fees may only be paid in colónes or dollars.
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