Latin America - Need to Know
The politics of crypto, Bitcoin and digital infrastructure in Latin America this week.
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Earlier this week I wrote about:
Here are some of the most important updates on bitcoin, blockchain and digital infrastructure policy in Latin America from this week.
Mexico’s Bitso partnered with Addem Capital to allow users to make investments in startups. It’s another sign of Bitso offering its payment rails to other financial services providers.
El Salvador's bonds collapsed by 50%. Investors are skeptical that president Nayib Bukele will be able to cover a $800mn bond payment by January. 2023
MoneyGram is holding talks with blockchain company Stellar about building El Salvador financial infrastructure. MoneyGram wants to build a crypto wallet that will integrate its remittance infrastructure with Chivo and other platforms.
El Salvador’s Central Bank failed to produce a copy of the Chivo Pets hospital construction. The hospital was built with Bitcoin funds supposedly held at Bandesal.
Venezuela’s Las Vegas casino located in Margarita, Nueva Esparta state, began to accept cryptocurrencies as a form of payment. The adoption signal is part of a push by the Maduro government to develop crypto payment rails.
Leopoldo López and other activists sent a letter on Bitcoin to U.S. Congress. A group of 21 activists, including Venezuelan Leopoldo López and Human Rights Foundation’s Alex Gladstein, sent a letter to the United States Congress lobbying for Bitcoin as financial relief for economies dominated by authoritarian regimes.
Brazil’s Bitcoin law is making its way through congress. Senators want to make adjustments to the law to prevent pyramid schemes and other fraudulent activity.
Colombian lawmaker Mauricio Toro’s crypto bill passed its first debate in congress. It needs to move through several other debate sessions before it can be put to chamber. Toro’s proposal could create confusion for investors involved in the government’s crypto sandbox.