Skip to main content

Latam Insights: Bukele Frontrunned Blackrock’s Bitcoin ETF Move, Bitcoin Lease Contracts in Argentina

Latam Insights: Bukele Frontrunned Blackrock's Bitcoin ETF Move, Bitcoin Lease Contracts in Argentina

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador’s President Nayib Bukele states they got into Bitcoin before Blackrock, the first bitcoin-settled lease contract goes live in Argentina, and the Venezuelan petro will be liquidated, according to reports.

El Salvador Frontrunned Blackrock on Getting Into Bitcoin

Salvadoran President Nayib Bukele celebrated the approval of a myriad of spot Bitcoin ETF products. In a post on X, the leader stated:

So, we got in way before Blackrock.

The landmark approval of these instruments serves as a validation of the model that Bukele instituted in his country, given that El Salvador was the first state nation that approved the use of bitcoin as a legal tender even in the face of criticism by institutions such as the International Monetary Fund (IMF).

Today, El Salvador holds about 2,381 BTC in its coffers and has made bitcoin a pivotal part of its state policy, projecting Bitcoin courses to be included in school curriculums, passing laws that give bitcoin donors the possibility of acquiring Salvadoran citizenship, and planning to issue its first Volcano Bonds on Q1 2024.

First Bitcoin-Settled Lease Agreement Goes Live in Argentina

Argentina has reached a milestone in crypto adoption, registering one of the first contracts involving bitcoin payments. According to La Capital, a local Argentine news outlet, the first bitcoin-settled lease agreement was recently signed in Rosario City after the repeal of the lease and rental laws by President Milei’s emergency executive order.

The agreement stipulates that the tenant will pay the equivalent of $100 USDT in Bitcoin to the landlord each month, having selected Fiwind, a national cryptocurrency exchange, as the provider of the referential bitcoin price to execute these payments. The contract also determines that the tenant will execute these payments during the first five days of each month to an address provided by the landlord.

Venezuelan Petro Reportedly to Be Liquidated

The life of the Venezuelan petro, one of the first state-backed cryptocurrencies, might be ending soon. According to reports from Asonacrip, a Venezuelan cryptocurrency group, the government would be preparing to liquidate all the petro in circulation, automatically exchanging them for bolivares, the Venezuelan fiat currency.

The information coincides with the liquidation of other crypto assets held in government-managed wallets, which will also be converted to Venezuelan bolivares on January 15.

To follow all the latest developments in crypto and the economy in Latin America, sign up for our Latam newsletter below.

What do you think about this week’s Latam Insights report? Tell us in the comment section below.



from Bitcoin News https://ift.tt/wD9kMAU
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more