Top news of the cryptocurrency market in Latin America

Top news of the cryptocurrency market in Latin America

The acceptance of cryptocurrencies in Latin America continues to grow, see the top news of the cryptocurrency market in Latin America

In the last few days, the top news of the cryptocurrency market in Latin America  could give a boost to the market. Three countries in the region adopted decisions that will expand the adoption of crypto assets in their economy.

On the one hand, Panama approved a law that will regulate the commercialization and use of cryptocurrencies. Cuba will grant licenses to private suppliers to carry out operations with digital assets. Meanwhile, Argentina will allow taxes to be paid in cryptocurrencies.

The Panamanian law was unanimously approved. All that remains now is for it to be signed by President Laurentino Cortizo for it to enter into force. This legal instrument will allow Panamanians to make and accept payments in cryptocurrencies in those businesses that agree to work with digital assets. In addition, the law enables the tokenization of precious metals. Additionally, Panamanians will be able to pay their taxes with Bitcoin and other cryptocurrencies. 

Cuba opens to cryptocurrencies

Cuba is one of the countries in the region where cryptocurrencies have experienced a huge surge. The Central Bank of the country will now issue licenses for virtual asset service providers.  Those entrepreneurs engaged in the cryptocurrency remittance business will have to apply for the license. Services such as the payment gateway QvaPay and Bitremesas will have to apply for this license to continue operating.

According to the publication in Cuba's Official Gazette, number 43, "The Central Bank of Cuba, when considering the request for a license, evaluates the legality, opportunity and socioeconomic interest of the initiative, the characteristics of the project, the responsibility of the applicants and their experience in the activity."

Those organizations that choose not to operate under this license could receive sanctions in accordance with Cuba's current financial and banking regulations. Another noteworthy element of the new regulations is that those providers that receive the license may not cease their services without prior authorization from the Central Bank.

For the third significant story in the cryptocurrency market in Latin America, Buenos Aires will make it possible to pay taxes with digital assets. This payment will be made through the exchanges Belo, Bitso and SatoshiTango. These companies will receive the cryptocurrencies and convert them into Argentine pesos.

 

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