Bitcoin News and Finance
Latam Insights: Argentina Prepares for Run-off Election With Crypto on the Agenda, Colombia Works on Digital Peso Skip to main content

Latam Insights: Argentina Prepares for Run-off Election With Crypto on the Agenda, Colombia Works on Digital Peso

Latam Insights: Argentina Prepares for Run-off Election With Crypto on the Agenda, Colombia Works on Digital Peso

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Argentina prepares for a run-off election with crypto on the agenda, Colombia works to formulate a digital peso, and Prosegur will build a crypto-secure bunker in Brazil.

Argentina Will Face a Run-off Election With Crypto on the Agenda

The first round of the presidential election in Argentina determined that Javier Milei, the libertarian candidate, and Sergio Massa, the current economy minister, will be facing a run-off election that has a crypto element to it.

While Milei has repeatedly proposed the elimination of the Central Bank of Argentina and the adoption of the dollar as legal tender in the country as the main points of his hypothetical administration, Massa recently discussed the creation of a national digital currency, which would be used by his administration to reduce tax costs and curbing tax evasion by bringing more of the Argentine economy to formality.

Massa, who led the first round in the election, also added another element to consider: the possibility of using gas from Vaca Muerta, one of the most significant Argentine crude oil deposits, to mine bitcoin.

At a meeting with Argentine cryptocurrency enthusiast Santiago Siri, Massa stated:

I like the Vaca Muerta proposal because it results in the reduction of carbon emissions. It has all the symbolic capital that Argentina needs in the coming years.

Colombia Advances to Create a Digital Peso

Ricardo Bonilla, economy minister of Colombia, recently revealed that the country was still working on creating a national central bank digital currency (CBDC), the digital peso. During a forum that examined the future of banking, Bonilla called Colombians to forget about cash, also charging against cryptocurrencies, stressing these were not “the best means for clear and transparent transactions.”

Bonilla clarified that the construction of the digital peso was being examined by the Central Bank of Colombia, the Superfinanciera (the national stock and financial regulator), the economy ministry, and the Congress. He added that the central bank would be the issuer of any CBDC.

Prosegur Will Build a Secure Crypto Bunker in Brazil

Prosegur, a Spain-based insurance and security company, announced that it will build a secure facility for cryptocurrency in Brazil. The so-called “bunker,” to be built in Sao Paolo, will include several security measures to avoid attacks, including 24/7 monitoring by redundant vigilance centers and a fog machine capable of filling the bunker in 30 seconds, leaving attackers trapped.

Jose Angel Fernandez Freire, Prosegur’s executive president, said that clear regulations helped the company build this facility in Brazil as an entrance door to provide these services to entities in other countries like Chile.

To follow all the latest developments in crypto and the economy in Latin America, sign up for our Latam newsletter below.

What do you think about this week’s Latam Insights report? Tell us in the comment section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory