LATAM crypto news: Costa Rica advances on crypto regulation as Blockchain boosts rice farming in Panama
2025-07-05 09:27:39
Main Idea
Costa Rica is advancing crypto regulation with a new bill for Virtual Asset Service Providers, while blockchain technology is improving rice farming in Panama through data-driven practices.
Key Points
1. Costa Rica’s Legislative Assembly has submitted a bill to regulate Virtual Asset Service Providers (VASPs), requiring exchanges to implement client identification and KYC processes.
2. The bill aims to combat money laundering and enhance oversight of cryptocurrency transactions.
3. Blockchain technology is being used in Panama to boost rice farming, led by the Inter-American Development Bank (IDB) and Panama’s Ministry of Agricultural Development (MIDA).
4. The project includes 106 data points and has increased farmers’ incomes by an average of 98% through climate-smart practices.
5. Young Argentines are driving crypto adoption, with surveys showing high interest in Bitcoin and preferences for secure and reputable platforms.
Description
Latin America’s crypto scene continues to evolve, with new products and regional expansions highlighting its rapid growth. This week’s most notable news is that Costa Rica moves forward with its plans to regulate crypto activities in the country as the sector rapidly expands. Panama, on the other hand, is introducing blockchain technology into rice production, becoming a regional leader in agricultural innovation. Costa Rica advances toward cryptocurrency regulation Costa Rica’s Legislative Asse...
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