Digital Peso Development and Crypto Initiatives: A Look at Latin America
In Argentina, the presidential election’s first round sets the stage for a run-off contest featuring crypto-related themes.
Javier Milei, the libertarian candidate, advocates for abolishing the Central Bank of Argentina and adopting the dollar as the official currency. Meanwhile, Sergio Massa, the current economy minister, proposes the creation of a national digital currency to reduce tax costs and combat tax evasion. Additionally, Massa suggests harnessing gas from Vaca Muerta, a significant Argentine crude oil deposit, for bitcoin mining, citing environmental benefits.
In Colombia, the government is actively pursuing the development of a national central bank digital currency, known as the digital peso. Ricardo Bonilla, the country’s economy minister, emphasized this initiative during a discussion about the future of banking, urging Colombians to shift away from cash. He clarified that the Central Bank of Colombia, the national stock and financial regulator, the economy ministry, and the Congress are all involved in the project.
Meanwhile, Prosegur, a Spanish insurance and security company, has unveiled plans to construct a secure cryptocurrency facility in Sao Paolo, Brazil. This “bunker” will boast robust security measures, including 24/7 monitoring by redundant vigilance centers and a rapid-deploying fog machine to deter potential attackers. Prosegur’s executive president, Jose Angel Fernandez Freire, attributes the company’s investment in Brazil to clear regulatory support, with an eye on extending these services to other countries, such as Chile.
Clever Robot News Desk 31st October 2023
Related Article
