LATAM crypto update: Argentine Senator eyes crypto mining, Bitcoin ATMs surge in Brazil

December 07, 2024 07:17 AM PST | By Invezz
 LATAM crypto update: Argentine Senator eyes crypto mining, Bitcoin ATMs surge in Brazil
Image source: Invezz

In this week’s LATAM crypto update Argentine entrepreneur and senator Ezequiel Atauche recently proposed a motion to the Argentine Senate to include bitcoin mining and blockchain technology on the list of supported activities, assuring their legal incorporation within the framework of existing legislation.

Meanwhile, Brazil has seen a remarkable surge in Bitcoin ATMs.

This change in Argentina is viewed as a step toward acknowledging the technological nature of these sectors and their conformity with the law’s goal of promoting knowledge-intensive and innovative activity.

Law No. 27,506, enacted in 2019, seeks to boost areas like as software development, biotechnology, artificial intelligence, and audiovisual industries through fiscal incentives, thereby contributing to quality job creation and national growth.

The suggestion emphasizes that, while bitcoin mining and blockchain development are not officially included in the current laws, their technological intensity makes them compatible with the law’s purposes.

This formal inclusion could address current regulatory issues and help to expand these operations in Argentina.

In his presentation, Senator Atauche emphasized the need for regulatory clarity and access to sustainable energy infrastructure to maximize the potential impact of cryptocurrency mining on the national economy.

He proposed incorporating a new subsection in Article 2 of Law 27,506, formalizing the inclusion of blockchain and cryptocurrency-related activities within the promoted sectors.

Atauche argued that this amendment would not only advance technological development but also drive innovations in hardware, software, cryptography, and cybersecurity, ultimately optimizing resource utilization in the mining sector.

Brazil sees surge in Bitcoin ATMs as cryptocurrency adoption grows

CoinATMRadar data shows nine Bitcoin ATMs in Brazil’s largest cities, including São Paulo, Rio de Janeiro, Petrópolis, São Bernardo do Campo, and Bauru.

This represents a significant increase from just four ATMs in 2021, demonstrating the rapid adoption of cryptocurrencies by Brazilians.

Coin Cloud has played an important role in this ATM expansion, taking substantial steps to improve the availability of Bitcoin ATMs in key urban areas.

The company’s plan seeks not just to meet current demand, but also to promote a greater knowledge and acceptance of cryptocurrencies in Brazil.

Coin Cloud is well-positioned to boost Brazil’s prominence in the cryptocurrency environment, with plans for additional expansion in the works.

Constitutional convention of Cardano kicks off in Argentina

Intersect has officially announced the start of the Cardano Constitutional Convention in Buenos Aires, where more than 120 delegates will work to finalize and approve the Cardano Constitution.

This momentous event represents an important step toward developing a strong governance framework for decision-making inside the blockchain ecosystem.

“With a strong representation from Latin America, backed by the organization of Intersect members, this convention highlights the power of a truly global and inclusive community shaping a more equitable and innovative blockchain future for all,” said Charles Hoskinson, Cardano’s founder and CEO.

According to Intersect, the Cardano ecosystem’s membership organization, the Constitutional Convention marks a watershed moment in blockchain governance.

The proposed governance paradigm includes decentralized representatives (DReps), a decentralized treasury, and voting processes that take place on-chain.

This program demonstrates a concentrated attempt to incorporate democratic ideals into Cardano’s operating architecture, encouraging openness and community participation in decision-making.

The convention, which will be held concurrently in Buenos Aires and Nairobi, is the result of more than two years of planning, including 65 workshops in more than 50 countries and participation from over 2,000 community members.

The convention’s key goals include building a decentralized future, unleashing resources for future technological developments, and developing local talent.

Cardano’s concentration on Argentina highlights the continent’s increasing leadership in decentralized innovation and financial inclusion, with the goal of leveraging local expertise to promote global growth.

The post LATAM crypto update: Argentine Senator eyes crypto mining, Bitcoin ATMs surge in Brazil appeared first on Invezz


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.


Sponsored Articles


Investing Ideas

Previous Next