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:
Here are the most important updates on bitcoin, blockchain and digital infrastructure policy in Latin America from this week:
In Mexico, Ebrard, Sheinbaum and Monreal are among ruling party MORENA’s prospective presidential candidates. One of them, Ricardo Monreal, has expressed public interest in Bitcoin adoption and regulation. Marcelo Ebrard and Claudia Sheinbaum have been quiet about the issue of blockchain technologies.
A new book covers Mexico’s 2012 HSBC money laundering scandal. The Sinaloa Cartel used HSBC to launder their earnings from drug-trafficking. The bank was fined US$1.9 billion.
El Salvador’s Chivo Wallet was equated to sanctioned ethereum mixer Tornado Cash. A software developer named Oscar Salguero wondered out loud if Chivo could be sanctioned by OFAC. The risk is that Chivo is found to be aiding in corruption, money laundering or terrorist financing, but so far there is no evidence this is the case.
Venezuela’s opposition leader Leopoldo López is turning into a Bitcoin activist. The self-declared human rights activist will speak at Bitcoin Amsterdam in October.
Argentine presidential candidate Javier Milei is being prosecuted for promoting a ponzi scheme called CoinX. The conservative presidential candidate wants to dollarize or potentially bitcoinize Argentina’s economy if he wins in 2023 elections.
In Peru, an NGO called Motiv has launched 16 circular Bitcoin economies. The NGO is led by ex-military officer Richard Swisher and petroleum executive Valentin Popescu.
Chilean inflation hit 12% and surpassed Brazil’s rate of price increases. The South American nation is joining Argentina in stablecoin adoption to maneuver around inflation.
Ecuador’s Daniel Eastman is working on Bitcoin mining projects using hydro energy. The engineer appears to have Guayas lawmaker Guido Chiriboga’s support. Chiriboga is aligned with president Guillermo Lasso.