Economic Shifts in Latam: Paraguay Raises Bitcoin Mining Fees, Bolivia Embraces Stablecoins

Welcome to Latam Insights, your digest of Latin America’s latest crypto and economic developments. 

In Paraguay, the National Power Administration (ANDE) has raised electricity tariffs for cryptocurrency mining by 14%, prompting concerns from industry players about operational sustainability. Senator Salyn Buzarquis criticized the move, highlighting its potential impact on future investments in the sector. 

Meanwhile, Bolivia’s Central Bank President, Edwin Rojas Ulo, discussed the potential benefits of cryptocurrencies for the country’s payments system, acknowledging stablecoins like USDT as viable alternatives to the dollar. In Brazil, Mexican startup Kavak has issued nearly $1 million in tokenized debt, facilitated by Liqi, to bolster its used car business. This move marks a significant step in leveraging blockchain for financial innovation in the region.

Clever Robot News Desk 8^th July 2024