Latam Insights: Venezuela and Argentina Leverage ‘Unique’ Crypto Use Cases, Brazilian Congress Advises Indicting CZ
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuela and Argentina use crypto uniquely, according to Chainalysis; the Brazilian Congress recommends indicting Binance CEO Changpeng Zhao, and the Argentine peso keeps falling to record lows. Chainalysis: Argentina and Venezuela Present Unique Crypto Use Cases According to a recent article referencing Chainalysis 2023 Geography of Cryptocurrency Report, Venezuela and Argentina use crypto uniquely to tackle their particular issues. Argentina is leveraging crypto to fight the breakdown of its currency, which has reached record lows recently. For Argentines, cryptocurrency (especially stablecoins) presents an opportunity to save in dollars, preserving their purchasing power. Alfonso Martel Seward, Head of Compliance & AML at Lemon Cash, stated : We have really high inflation, and there are lots of restrictions against buying foreign currencie