I hope you are having a great Friday. Thanks again for reading Barracuda.
In case you missed it, here are the latest briefs to keep you up-to-date:
Argentina’s YPF is selling electricity to a private Bitcoin miner in the Vaca Muerta region | 12 October
In Brazil, the Federal Police raided some crypto exchanges | 6 October
The Gilinski factor could shake up Colombia’s crypto regulatory sandbox | 28 September
From Latin America this past week, here are the most important updates on Bitcoin, blockchain and crypto politics in the news right now:
Pro-Bitcoin senator Indira Kempis hinted in Nuevo Leon last week that Banxico’s digital asset regulation will accommodate Bitcoin and other crypto assets. Banxico on 4 October named Alejandrina Salcedo Cisneros as the Central Bank’s new director of research.
Mexico’s Guacamaya hack shows that Mexico’s military purchased NSO’s Pegasus spyware in April 2019. This poses a significant threat to privacy, especially amongst opposition figures and investigative journalists in the country.
US-based River Financial Services said on 11 October that it has been providing El Salvador’s Chivo Wallet with Lightning Network integration for nearly a year. River also provides LN infrastructure to AlphaPoint, which was hired by Nayib Bukele’s government in January to fix Chivo Wallet’s dysfunctional backend.
As Venezuela anticipates a thaw in US sanctions and improving relations, sources tell Barracuda that the Maduro government is trying to incentivize Bitcoin mining at the 10GW Guri hydroelectric dam.
Colombia-focused Gemini rolled out a Spanish language feature for 13 countries in Latin America. Gemini partnered with Colombia’s Bancolombia for a crypto regulatory pilot last year.
Abu Dhabi investment vehicle IHC invested $200 million into Colombian fintech Lulo Bank for slightly less than 50% of the company. Lulo Bank is majority owned by Jaime Gilinski, who is in the middle of a complex hostile takeover with Abu Dhabi as partners.
Peru’s Central Bank is developing interoperable wallet regulation, a payment system that mirrors Brazil’s Pix. Iupana reports that BCP’s Yape wallet and the Scotiabank-BBVA Plin wallet are handling 10 million and 8.5 million users respectively. The regulation will go into effect in early 2023.
Brazilian mayor of Rio de Janeiro on 11 October issued a decree that allows residents to pay property tax in crypto.
Argentina’s Central Banker Miguel Pesce was appointed to another 6-year term. Pesce expressed concern in September about the use of crypto assets in the banking system to avoid capital controls.
Bitfarms on 3 October said it crossed 4 exahash/second in Septemberwhen it powered up its Rio Cuarto facility in Cordoba province, Argentina. Rio Cuarto sources electricity from Albanesi’s gas-fired thermal plant in Rio Cuarto. Albanesi generates 1.5GW of Argentina's 50GW power grid.