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IMF Working on Platform to Support CBDC Cross-Border Interoperability
21.6.2023
The International Monetary Fund (IMF) is working to develop a platform that would serve as an interoperability layer for central bank digital currencies (CBDCs), allowing for settlements among different countries. According to statements from IMF Managing Director Kristalina Georgieva, this would...
Latam Insights — Petro Liquidation Imminent, Ripple Partners With Colombian Central Bank
19.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, reports indicate that the Venezuelan government will liquidate the petro, Ripple partners with the Central Bank of Colombia, and Brazil issues...
Reports Indicate Venezuela Is Preparing to Liquidate the Petro
16.6.2023
According to reports, the government of Venezuela could be winding down the operations of the petro cryptocurrency. The decision comes after Sunacrip, the Venezuelan cryptocurrency watchdog, was set back by the alleged participation of its former head Joselit Ramirez in a potential $20 billion...
Latam Insights — Volcano Energy Bitcoin Mining Project Rises in El Salvador, Venezuelan Miners Leaving Amidst Crypto Corruption Probe
12.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Volcano Energy rises in El Salvador, Venezuelan bitcoin miners flee amidst nationwide mining ban, and Argentina deepens usage of the Chinese yuan to...
Lula Proposes to Revitalize South America Union USAN; Reinforces Need of Shifting Away From US Dollar
1.6.2023
Luiz Inacio “Lula” Da Silva, President of Brazil, remarked on the need to retake South American integration mechanisms through the Union of South American Nations (USAN). Lula also proposed to shift away from the U.S. dollar by using a standard reference currency for bilateral...
Venezuelan Petro Blockchain Faces Operational Difficulties, Hundreds of Wallets Allegedly Blocked
29.5.2023
The blockchain of the petro, the Venezuelan official cryptocurrency asset, has been facing difficulties, halting on May 24, with block production restarting on May 27 only to stop again on May 28. Asonacrip, a local cryptocurrency association, also reported that hundreds of petro wallets were...
Latam Insights — Venezuelan Gold Battle Continues, Argentina Seeks Yuan Funding Extension
29.5.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic development news during the last week. In this issue, Venezuela tries to regain control of the gold stash held in London again; Argentina seeks to expand the Chinese yuan swap line; and Azteco enables...
Venezuela Seeks to Regain Control of More Than $1.8 Billion in Gold After Interim Government Dissolves
25.5.2023
The government of Venezuela is seeking to regain control of more than $1.8 billion in gold deposited in the vaults of the Bank of England. Officials of Maduro’s government appealed to the London Court of Appeals that the destitution of Juan Guaido, the former interim president, could affect...
EU Spokesperson: Russian Banks Will Not Be Reconnected to SWIFT Anytime Soon
23.5.2023
The European Union (EU) has no intention of allowing Russian banks to be reconnected to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) banking system anytime soon. Peter Stano, spokesperson for external affairs of the EU, stated that these restrictions can only be lifted...
Latam Insights — Venezuela’s Maduro States De-Dollarization Is ‘Inevitable,’ Argentina Raises Interest Rates to Close to 100%
23.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Venezuela makes a push for de-dollarization, the Central Bank of Argentina raises interest rates to close to 100%, and Brazil breaks the U.S....
Russia ‘Actively’ Working on SWIFT Alternatives, Foreign Ministry Official Says
22.5.2023
The Russian Federation is collaborating with partners to link payment systems alternative to the interbank messaging system SWIFT, a representative of the country’s Ministry of Foreign Affairs announced. The work is part of the de-dollarization of the economy, the official indicated. Russia Seeking...
Venezuela’s President Declares Inevitable Shift Away From US Dollar in De-Dollarization Push
19.5.2023
Venezuelan President Nicolas Maduro has announced that Venezuela will shift away from using U.S. dollars in trade, emphasizing that the de-dollarization process is “inevitable.” He described: “This is the path of Venezuela and the path of a free economy where currencies are not used...
Latam Insights: Bolivia Mulls Chinese Yuan for Trade Settlements, Steve Hanke Proposes 30-Day Solution for Venezuelan Inflation
15.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia mulls using the Chinese yuan in international trade settlements, inflation reaches 108.8% in Argentina, and Steve Hanke states he...
Latam Insights — Steve Hanke Advocates Dollarization in Argentina, Bitcoin City Plans Unclear in El Salvador, Sunacrip Implicated in Venezuela Layoffs
1.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, economist Steve Hanke calls to dollarize Argentina, Bitcoin City plans are still not formalized in El Salvador, and Venezuelan crypto watchdog...
Not funny: Comedy club NFT debacle teaches lesson in transparency
28.4.2023
What started with a comedy club would later become a notorious case of legal loopholes and frustration for the nonfungible token community
Latam Insights: Argentine Peso Plunges, Venezuela and Russia to Develop SWIFT Alternative, Bitcoin Mining Still Paused in Venezuela
24.4.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: the Argentine Peso plunges against the U.S. dollar, Venezuela and Russia agree to develop a joint SWIFT alternative, and Bitcoin mining is still...
Venezuelan Crypto Exchange CoinCoinX ‘Temporarily’ Halts Operations – What’s Going On?
19.4.2023
The Venezuelan crypto exchange CoinCoinX says that it has “temporarily stopped” operations amid reports users cannot make withdrawals on its platform.
It is a move that has reportedly left “thousands” of customers unable to access their funds.
In a tweeted statement, the exchange said that users’...
Russian Foreign Minister Sergey Lavrov Explains ‘Multipolar’ World View in Brazil
19.4.2023
Sergey Lavrov, the Russian foreign minister, started his tour of Latin America on April 17, landing first in Brasilia to hold high-level talks with Brazilian President Luiz Inacio ‘Lula’ da Silva and Brazilian Foreign Minister Mauro Vieira. Lavrov insisted that Russia was building...
Latam Insights – Inflation Skyrockets in Argentina, El Salvador Processes Digital Assets Licenses, Venezuelan Crypto Corruption Probe Continues
17.4.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Inflation in Argentina goes over 100%, El Salvador issues its first digital assets licenses, and the crypto-linked corruption probe in Venezuela...
Latam Insights — Alliance Against Inflation, BTG Pactual Launches Stablecoin, and Argentina Debuts New Dollar
8.4.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Latin American nations ink an agreement to reduce inflation, Brazil-based BTG Pactual launches its own dollar-pegged stablecoin, and Argentina...