I hope you are having a great Friday. Thanks again for reading Barracuda.
In case you missed it, earlier this week I wrote about how:
How in Brazil, prosecutors are aggressively nabbing crypto criminals in the region’s largest economy
Here are the most important updates on bitcoin, blockchain and digital infrastructure policy in Latin America from this week:
Bitcoiners are fighting over El Salvador president Nayib Bukele’s non-Bitcoin policies. This thread on Twitter authored by Human Rights Foundation’s Alex Gladstein shows the tension over Bukele’s politics.
Meanwhile, a neo-bank called n1co is challenging Bukele’s Chivo project. Fintech is using QR technology and US Dollar-based banking infrastructure to onboard Salvadorans who are cut off from the banking system.
Colombia’s tax authority wants to use CBDCs for combating tax evasion. Luis Carlos Reyes is part of the Petro administration’s scramble to raise and collect taxes. His message comes at a time when the fiscal deficit is straining the incoming government’s spending objectives.
Mexican lawmaker Indira Kempis wants to reform the country’s Central Bank Law. Kempis wants the law to permit Banxico to use digital assets.
Brazil’s BTG Pactual launched a crypto trading platform. The platform, called Mynt, will be headed by André Portilho and adds one of Latin America’s largest bank to a market that includes Nubank and Santander Brasil.
Ripple is teaming up with Travelex for a Brazil-Mexico liquidity service. Ripple is attempting to make a comeback after failing in a remittance project involving MoneyGram.
Argentine MercadoPago is introducing its own proprietary crypto asset on the e-commerce giant’s platform. The firm used the ERC-20 token standard on the Ethereum blockchain. It’s called… MercadoCoin.
Binance thinks there’s a growth opportunity in Latin America. Higher rates of inflation, says the firm’s regional director Maximiliano Hinz, is driving demand for crypto assets.
Latin America’s Lightning Network firms could face AML and FATF scrutiny in the years ahead. LN infrastructure firms like MUUN, Belo and LaHaus have gained significant traction in Latin America.