South America: Crypto and Blockchain News Roundup 23rd February to 2nd March 2019

South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

 Brazil Can Regulate Exchanges Using the Same Rules Applied to Banks: Cryptocurrency exchanges in Brazil can face a new setback in case their government decides to respond to the latest Financial Action Task Force (GAFIT/FAFT) requests.

GAFIT finalized the supervision requirements for monitoring cryptocurrency services this week, followed by the G20 group binding 35 countries involved to adopt same rules for active crypto platforms as regular banking systems instead of having specific legislation for the segment. The task force insists that these measures are required to prevent misuse of cryptocurrency for illegal transactions.

TrueUSD Creator Attends an Event in São Paulo; Praises Brazilian Startup: Tory Reiss, creator of TrueUSD (TUSD) met with the Atlas Quantum management in São Paulo this Monday and expressed how impressed he was by the Brazilian platform’s potential. He termed the platform as “the future of investments” courtesy its open model that allows investors around the world unlimited access to almost all features. He also pointed out that the future of money lies in the digital markets with stablecoins as the perfect solution for all kinds of transactions.

Reiss elaborated on the pitfalls of using the current credit cards as it involves a plethora of agents and rates, whereas a stablecoin removes all the unnecessary bureaucracy. He also revealed that unlike a lot of market analysts, he welcomes JP Morgan’s move to launch their own stablecoin known as the JPM Coin.

Brazilian Civil Aviation Agency Aims at Blockchain: The National Civil Aviation Agency (ANAC), an organization in Brazil responsible for overseeing economic and technical aspects of civil aviation activities, has expressed interest in exploring the opportunities blockchain technology can offer for their operations. The agency has also authorized a civil servant in a commissioned position to visit the upcoming ICAO Blockchain Aviation Summit and Exhibition, to be held on 3 – 4 April 2019 in Abu Dhabi, United Arab Emirates.

The event offers aviation industry stakeholders an opportunity “to explore innovations in blockchain technology that enhance safety and economic viability of civil aviation systems.” The event also aims to bring “consensus” among aviation stakeholders on the deployment of blockchain while “promoting a global governance structure to accelerate the adoption of blockchain technology in aviation.”

Venezuela

Venezuela to Raise USD 1 Million in Bitcoin for Aid: Amidst all the chaos in Venezuela, it is again the cryptocurrency which is stirring up the headlines. Recently cryptocurrency wallet platform AirTM and artist cryptograffiti announced their initiative to raise $1 million to aid Venezuelans in tough economic times using a “legitimate” Bitcoin installation. This move is seen as a way to delegitimize President Maduro’s own oil backed cryptocurrency, Petro.

The initiative “Airdrop Venezuela” is led by Steve H. Hanke and aims to inject financial aid into the Venezuelan economy through cryptocurrencies using the Bitcoin blockchain network to add real-world usage for the digital currencies. The campaign accepts donations in many cryptocurrencies and claims that 100% of the donations will be sent to Venezuelan recipients.

Argentina

There’s No Crypto Winter in Argentina, Where Startups Ramp Up to Meet Demand: Argentina has been slowly but surely making a mark in the cryptocurrency world, where the country recorded an all-time high usage of peer-to-peer exchange LocalBitcoins, transacting 9.4 million Argentine pesos in weekly volume in December 2018. And the gains were largely unaffected by the crypto crisis across the globe, with the Bitcoin exchange steadily growing since the 2017 token boom.

Local cryptocurrency entrepreneurs also admitted that despite the recent crypto volatility, the local demand has been consistently increasing. This can also be attributed to the fact that a large number of Venezuelans have immigrated into the country, and hence the demand for banking services, financial tools, and remittance services have also increased.

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