Uruguay has reportedly installed its first Bitcoin (BTC) ATM, making it the 11th South American country to publicly encourage crypto adoption. Prior to Uruguay’s involvement, South America hosted 79 ATMs, which represented 0.2% of global BTC ATM installations. According to Ámbito, Uruguay’s first crypto ATM was installed in the coastal city of Punta del Este, a major tourist attraction in the region. Uruguay’s first Bitcoin ATM was developed and installed in partnership with two local crypto companies — URUBit and inBierto. The crypto ATM in Uruguay currently supports withdrawal and deposits of five cryptocurrencies, namely — BTC, Binance Coin (BNB), …

On Dec. 17, 2021, the Senate of Paraguay approved a cryptocurrency bill introduced in July. The provisions, which define several key terms including virtual assets and call for licenses to mine cryptocurrencies, will now be sent to the Deputy Chamber for further deliberation. Senator Fernando Silva Facetti, the bill's sponsor, revealed that it's passed in the Paraguayan Senate after a contentious debate. According to the senator, the law also aims to foster the growth of crypto mining activities by using the surplus electricity generated in the country. (1/3) Today, after an intense debate, the Senate @SenadoresPy approved todaya New Law …

New York-based crypto exchange Gemini has announced that it will be expanding into Latin America through an upcoming partnership with Colombia’s largest bank, Bancolombia. The partnership will take effect Dec. 14, and will permit customers from Bancolombia to trade 4 crypto assets: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). A limited number of users will be able to buy crypto directly from their Bancolombia bank accounts through the Gemini exchange, which will provide crypto-specific infrastructure for exchange and custody of assets. It remains unclear whether the users will be able to withdraw the crypto holdings directly from …

2TM, the parent company of Brazilian cryptocurrency exchange Mercado Bitcoin, has received $50.3 million in fresh financing to expand its operations across Latin America, sending a strong signal that venture capital sees growth potential in the region. The Series B fundraiser had participation from United States-based funds 10T and Tribal Capital, as well as Brazilian companies Traders Club, Pipo Capital and Endeavor, the company disclosed Tuesday. The funding round further cements 2TM’s status as a crypto unicorn after the company raised $200 million from SoftBank in July. At the time, Mercado Bitcoin was the second Latin American cryptocurrency exchange to …

A gubernatorial candidate from Venezuela has promised to offer scholarships for citizens interested to join the Technical Training Center for Mining and Administration of Digital Crypto Assets. José Alejandro Terán, the aspiring governor who represents the country’s ruling party, started the initiative as a part of the La Guaira Digital program, which aims to fast-track growth and induce economic stability in the country. As Cointelegraph Spanish reported, Terán’s training center will provide specialized training to the scholarship holders in nonfungible tokens (NFT), crypto mining and trading. Moreover, the drive will be supported by four entities, namely the National Superintendence of …

Salvadoran President Nayib Bukele claims that 2.1 million of his fellow citizens are using the government-backed Chivo cryptocurrency wallet, offering a glimpse into the apparent success of the country’s Bitcoin (BTC) gambit. The controversial president updated his 2.9 million Twitter followers Saturday afternoon, claiming that Chivo “now has more users than any bank in El Salvador” after just three weeks in operation. Bukele indicated that it’s only a matter of time before Chivo adoption eclipses all banks in El Salvador combined. 2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads). Chivo is not a bank, but in less than 3 …

El Salvador President Nayib Bukele confirmed Monday that his government has purchased its first 200 Bitcoin (BTC) ahead of the Tuesday rollout of a new law set to make the cryptocurrency legal tender. “Our brokers will be buying a lot more as the deadline approaches,” Bukele said, referring to the Tuesday, Sept. 7, timetable for fully implementing the new BTC legislation. El Salvador has just bought it’s first 200 coins. Our brokers will be buying a lot more as the deadline approaches.#BitcoinDay #BTC — Nayib Bukele (@nayibbukele) September 6, 2021 The purchase is part of a new $150-million Bitcoin fund …

Vietnam, India and Pakistan are leading the world in terms of cryptocurrency adoption, underscoring the resilience of peer-to-peer monetary systems in emerging economies. Chainalysis’ 2021 Global Crypto Adoption Index evaluated 154 countries based on three key metrics: on-chain cryptocurrency value received, on-chain retail value transferred and peer-to-peer exchange trade volume. Each metric was weighted by the purchasing power parity. Vietnam received the highest index score for its strong performance across all three metrics. India was a distant second, but still performed exceptionally well for on-chain value received and on-chain retail value received. Pakistan came in third with a strong showing …

Uruguayan Senator Juan Sartori has introduced a draft bill to regulate cryptocurrency and enable businesses to accept crypto payments. Sartori joins a growing list of politicians from South American and Spanish-speaking countries who are seeking to bring crypto adoption into the mainstream. The senator is not proposing the use of crypto as legal tender as in El Salvador, however. The crypto-friendly Senator tweeted on Wednesday that “today we present a bill, pioneer in the world, that seeks to establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies in Uruguay.” The bill …

Bank of America, one of the nation’s largest financial institutions based on total assets, believes El Salvador could have a lot to gain with its latest foray into Bitcoin (BTC). In a report published last week, analysts at the bank said El Salvador’s decision to recognize BTC as legal tender could streamline remittances, promote financial digitization, provide consumers with greater choice, and open up the country to American firms and digital currency miners. The bank noted that remittances account for a staggering 24% of El Salvador’s gross domestic product, but a sizable chunk of that goes toward transaction fees. “Using …

Paraguayan Congressperson Carlitos Rejala and Senator Fernando Silva Facetti are planning to introduce a Bitcoin (BTC) bill to Congress on Wednesday, July 14, underscoring the lawmakers’ urgency in formulating a coherent digital asset strategy for their country. “I am here to unite Paraguay,” Rejala tweeted Friday, adding that he and his fellow lawmaker are planning a “mega surprise for Paraguay and the world.” I am here to unite Paraguay , that is why we decided with Senator @FSilvaFacetti to present together the bill #bitcoin on Wednesday, July 14! Stay tuned since there will be a mega surprise for Paraguay and …

A member of the lower house of the Argentine National Congress has introduced legislation that would allow certain workers in the country to receive some or all of their salary in crypto. In a Tuesday tweet, Argentine Chamber of Deputies member José Luis Ramón said his proposed crypto bill would apply to anyone working as an “exporter of services” and those who depend on an employer for income. Should the legislation pass, it would allow such workers the choice of receiving a full or partial salary in crypto or Argentine pesos. “The idea is that [workers] can strengthen their autonomy …