Brazilian crypto industry gets regulatory clarity amid global uncertainty

As the global crypto community is still licking its wounds from the FTX collapse, a liquidity crisis continues to spread around centralized exchanges and decentralized finance (DeFi) alike.  It is soon to be decided whether the coming regulation triggered by FTX’s bankruptcy will bring a silver lining to crypto. The Chamber of Deputies of Brazil, […]

Sam Bankman-Fried denies rumors that he fled to Argentina

FTX founder Sam Bankman-Fried has denied speculation that he’s fled to Argentina as the saga surrounding his collapsed cryptocurrency exchange continued to unfold in near-real time on Twitter.  In a text message to Reuters on Nov. 12, Bankman-Fried, who also goes by SBF, said he was still in the Bahamas. When Reuters asked him specifically […]

El Salvador’s pro-Bitcoin president Nayib Bukele announces reelection bid

In an Independence Day live streaming event on Sept. 15, El Salvador President Nayib Bukele announced his bid for reelection after his current term ends in 2024. Bukele’s announcement comes even though past presidents in El Salvador were prohibited by law from having consecutive terms in office. The president highlighted that: “Developed countries have reelection, […]

Brazilian central banker describes how CBDC system can halt bank runs

In a paper recently published by the Bank for International Settlements (BIS), Fabio Araujo, an economist at the Central Bank of Brazil (CBB) who is also responsible for the country’s central bank digital currency work, revealed that the monetary authority will have greater control over the population’s money once its CBDC is rolled out. Through […]

Argentines turn to Bitcoin amid inflation worries: Report

Since 2016, Argentina has been engaged in a war against inflation. Caused by multiple factors, like a lack of trust in the central bank or government overspending, the depreciation of the Argentinean peso has negatively impacted citizens’ purchasing power. This has brought 37.3% of the population under the poverty line, and many others have had […]

Paraguay paves the way for crypto regulation despite internal opposition

Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets.  On May 25, a bill that regulates cryptocurrency trading, mining and custody was approved by the Paraguayan Congress in […]