Latin America - Need to Know
The politics and policy shaping crypto, blockchain and digital infrastructure in Latin America this week.
I hope you are having a great Friday. Thanks again for reading Barracuda.
Earlier this week I wrote about:
Here are some of the most important updates on bitcoin, blockchain and digital infrastructure policy, power and politics from this past week.
Brazilian presidential candidate (and former head of state) Lula da Silva is proposing a Latin America currency. Economist Gabriel Galípolo is behind the idea of a digital currency called SUR.
SoftBank-backed Nubank is adding crypto trading. Account holders of the sprawling Brazilian Fintech will be able to hold BTC and ETH in their accounts.
Argentina’s Banco Galicia returned crypto to its users. This comes just after the Central Bank issued a prohibition on traditional banks handling crypto trading services.
BitPatagonia’s electricity bill soared by 400%. The increase in costs for miners in southern Argentina’s Tierra del Fuego region is in response to a government-led policy change.
In Honduras, a company called La Bitcoinera wants to integrate with Lightning wallets. Juan Mayén’s is heading the project, which tries to integrate wallets with traditional debit cards.
Salvadorans are ditching their Chivo Wallets. Economist Ricardo Castaneda describes the digital wallet as showing representations of underlying BTC and USD - not BTC and USD itself. Salvadorans can’t actually own BTC through Chivo.
El Salvador’s president mused over a rendering of Bitcoin City. Some observers think it looks like a giant papusa, a local Salvadoran cuisine.
Meanwhile, president Bukele’s securities law and volcano bond issuance are still delayed. Bukele has an $800mn debt payment due January 2023.
In Venezuela, Francisco Calderon’s project to integrate Telegram with the Lightning Network. Calderon is receiving funding from Human Rights Foundation.