Did we overestimate Latin America’s curiosity in Bitcoin and different cryptocurrencies? Regardless that the continent appears to want the expertise essentially the most, mainstream adoption feels so far-off. The El Salvador experiment may change that, nevertheless it’s not a assure. And, up to now, there are not any main indicators that another nation goes to observe swimsuit. Is it too early for this to occur? Are we being too keen?
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In any case, exterior of the political realm, grassroots adoption advances slowly and steadily. Right this moment, we’re going to verify on Colombia, Argentina, Cuba, and the brand new Bitcoin Seaside.
Colombia: Binance Frozen Accounts, ATMs, And A Sport
- Greater than 50 Colombian Binance accounts are frozen. Some individuals assume that the Dutch Tax and Customs Administration (Belastingdienst) is accountable. Others assume it’s the American DEA doing the investigations. Criptonoticias tried to contact each businesses and couldn’t get affirmation both manner.
A Colombian lawyer thinks that Binance shouldn’t be approved to do this with no courtroom order and that neither company has jurisdiction on the matter. Nonetheless, Binance did block the accounts. To date, with out clarification. Wow.
- If we take El Salvador out, these days Colombia has essentially the most ATMs on the continent. From the 50 accessible, “Bogota has 29, six are positioned in Medellin, three every in Bucaramanga and Pereira, and the remainder are scattered across the nation,” Decrypt informs.
- A videogame referred to as “B Cash” gained the Crea Digital contest from the Colombian Ministry of Data and Communication Applied sciences. The sport goals to show kids find out how to put money into shares and cryptocurrencies by simulating a inventory Trade. The federal government desires to spice up monetary and financial schooling for the youth. The app shall be accessible within the Play Retailer in December. There will even be a Home windows model.
BTC value chart for 10/26/2021 on BinanceUS | Supply: BTC/USD on TradingView.com
Argentina: Mining, Futures, And ETFs
- Canadian Bitcoin mining firm Bitfarms signed a cope with the Argentinian authorities. They’ll construct a facility that’ll host “55,000 ASICS that might eat about 210 MW of electrical energy,” Decrypt informs. A deputy from the opposition get together launched a invoice that asks for transparency and details about the undertaking. In any case, the deal is already signed.
- The largest futures market in Argentina, the Matba Rofex, introduced a undertaking to the Nationwide Securities Fee. They wish to create futures and choices contracts on the Bitcoin Index. When that’s authorized and operating they could go for an ETF, La Capital informs.
Cuba: Companies Already Accepting Bitcoin Funds
- Within the first edition of “Latin America, Tipping Point,” we knowledgeable you that Cuba was trying to regulate the usage of cryptocurrencies in industrial transactions. Now, Morocotacoin gives a listing of 17 companies in La Habana which might be already accepting them. Most of them are accommodations and eating places, and there’s even an ATM. Right here’s a video of somebody paying at a restaurant utilizing Bitcoin’s Lightning Community.
— Erich J. García Cruz ₿⚡ (@ErichGarciaCruz) October 18, 2021
Brazil: A New Bitcoin Seaside Arises
- Within the seashore village of Jericoacoara, they’re “constructing a Bitcoin financial system utilizing Lightning Community.” Brazilian musician Motolese put a small seed capital to jump-start a brand new Bitcoin Seaside, impressed however not affiliated with the unique. Motolese is “coaching a crew with individuals who dwell within the village, and so they obtain small quantities of Sats from his preliminary donation as an incentive to assist different customers set up the pockets and to make their very first transaction.”
Working an experiment just like the @BitcoinBeach however in Jericoacoara CE/Brazil. Utilizing BlueWallet, with our personal #Bitcoin and #Lightning Full Node, we’re able to change into the second Bitcoin Seaside on the earth by serving to the group to create a brand new Native Bitcoin Financial system #bitcoinbeachbr
— Motolese 👽🖖 (@MotoleseOficial) October 3, 2021
This undertaking looks as if the start of one thing nice and we at Bitcoinist will maintain our eye on it so that you don’t should.
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Let’s end this with a Motolese video. The person clearly deserves it.
Featured Picture: Bitcoin Seaside Brazil from their Twitter | Charts by TradingView