Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Argentine presidential candidate Sergio Massa has proposed to use blockchain for state oversight, the Brazilian securities regulator president stated (CBDC) drex might ‘kill’ lesser cryptocurrencies, and Okx announced an expansion to Brazil in…
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Milei won over 55% of the votes with 99% of the votes counted in the run-off presidential election. Argentina’s Bitcoin (BTC)-friendly Javier Milei won the country’s presidential run-off election on Nov. 19, beating out his opponent Sergio Massa. With almost 99% of the vote counted, Milei won over 55% of the votes with a nearly…
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Presidential candidate and Economy Minister Sergio Massa has proposed to develop a system to allow citizens to control and monitor state finance using blockchain tech in Argentina. At a recent presidential campaign rally, he declared that Argentines “should be able to control state accounts with their mobile phones,” interacting with the national budget. Sergio Massa…
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The group, “Bitcoin Argentina,” previously rejected the idea that regulation was needed in the cryptocurrency industry. Non-government organization Bitcoin Argentina presented a draft bill proposing to regulate the cryptocurrency market in a way that preserves decentralization and strengthens public trust. The proposed legal framework was pitched by Bitcoin Argentina’s president Ricardo Mihura at LABITCONF 2023…
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This past weekend in Argentina, a vote for the country’s next president led to a runoff between Finance Minister Sergio Massa of the Unión por la Patria party and libertarian candidate Javier Milei of the La Libertad Avanza party. In the Sunday vote, Massa received 37% while Milei garnered 30%. Massa, Milei Eye Victory in…
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Sergio Massa’s stance on central bank digital currencies appears to be in complete opposition to Javier Milei, a pro-Bitcoin candidate who wants to abolish Argentina’s central bank. Argentinian presidential candidate Sergio Massa has pledged to launch a central bank digital currency (CBDC) if elected to “solve” Argentina’s long-lasting inflation crisis. “I am clear that inflation…
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The exchange rate of the Argentine peso reached historic lows Monday in a decline that took its exchange rate to almost 600 pesos per U.S. dollar. Economists state that the uncertainty of the upcoming elections caused key bagholders to hedge their portfolios with foreign currency. However, analysts fear the effect this movement might have on…
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Javier Milei, a liberal presidential candidate in Argentina, stated recently that he has the funds needed for the dollarization of the country at the current market prices. Milei noted that his team had signed an NDA (non-disclosure agreement) with unknown third parties that would provide the liquidity needed to close the Central Bank of Argentina.…
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The government of Argentina has noted that 19% of all imports authorized in the national system were settled using the Chinese yuan in April and May. $2.72 billion in Chinese yuan were approved to complete these payments, taking advantage of the Chinese swap line to preserve the dollar reserves of the country, according to Commerce…
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The government of Argentina is reportedly seeking to expand its de-dollarization agreement with China due to the lack of dollars that the country is facing. According to reports, Economy Minister Sergio Massa would be in talks to expand the current swap line to double the available amount from $5 to $10 billion, lent in Chinese…
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