LATAM crypto News: Trade tensions boost Bitcoin usage in Brazil as Bolivia signs crypto deal with El Salvador
Main Idea
Trade tensions between the US and Brazil are boosting Bitcoin usage in Brazil, while Bolivia signs a crypto deal with El Salvador to promote financial inclusion and economic growth.
Key Points
1. US tariffs on Brazilian goods increased from 10% to 50%, potentially impacting Brazil's crypto sector and leading to job losses and GDP decline.
2. Bolivia signed a bilateral agreement with El Salvador to promote financial inclusion and economic growth, following El Salvador's lead in adopting Bitcoin as legal tender.
3. Méliuz, a Latin American corporation, appointed Mason Foard as Head of Bitcoin Strategy to expand Bitcoin-based financial products and US market presence.
4. The US-Brazil trade tensions may affect tokenized commodities and digital payment systems like PIX, creating legal and operational challenges for Brazil's crypto ecosystem.
Description
The highlights of the week in terms of crypto in Latin America are that the US is raising tariffs for Brazil, and the trickle-down effect on how it influences investor behaviour around crypto, as increased economic frictions increase demand for cryptocurrencies like Bitcoin and stablecoins. Bolivia, on the other hand, is attempting to address its present severe economic situation by increasing the use of cryptoassets in the country. Just this week, the southern nation reached an agreement with E...
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