South America News

On Sept. 6, El Salvador became the first country to adopt BTC as legal tender, attracting both praise and criticism from the global community.

El Salvador is the first country in the world to recognize Bitcoin as legal tender. Despite opposition from local groups, the government believes cryptocurrency will be a net positive for the economy and society.

The report indicates that the adoption of crypto assets jumped 880% worldwide, with peer-to-peer platforms driving cryptocurrency usage in emerging economies.

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.”

“More than 70% of the adult population of El Salvador does not have a bank account,” reads the latest Global Research report from Bank of America. “For that reason, democratizing access to electronic payments, through Bitcoin, has a progressive touch.”

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.

The proposal may help Argentinians in the export business avoid heavy taxes from foreign currency payments.

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.

The World Bank has refused to support El Salvador’s request for help in the transition to use Bitcoin as legal tender.

Steve Hanke slammed El Salvador’s Bitcoin adoption as legal tender and questioned how Bitcoin would function in day-to-day transactions.

GoldConnect will be able to process crypto transactions made in Bitcoin, Ether and other digital assets through its new LatamConnect platform.

El Salvador has become the first country to make Bitcoin legal tender, but what are the complexities and potential short-term effects?

While some made out the announcement from a Lightning Wallet developer to be historic, the market seems to think it's ho-hum.

Airtm is aiming to solve a myriad of financial challenges in Latin America tied to last-mile remittance, affordability and equitable access to the global banking system.

The startup has a total value of $2.2 billion following its latest Series C investment round.