El Salvador to Maintain Bitcoin as Legal Tender
According to El Salvador Vice President Felix Ulloa, bitcoin will continue to be recognized as legal tender in the country, even after the International Monetary Fund (IMF) advised against it. Ulloa stated that if President Nayib Bukele is reelected, the Bitcoin policies, including the launch of volcano bonds, will continue.
Bitfinex, a digital securities tokenization company, has also recently established operations in El Salvador, further solidifying confidence in the country’s digital future.
President Javier Milei Drops Crypto Tax Opportunities From Omnibus Bill
The Argentine government has removed provisions for declaring ownership of assets, including cryptocurrencies, from the omnibus bill submitted to Congress. President Javier Milei withdrew these sections in order to expedite the approval of the bill, explaining that there was no consensus on the withdrawn issues.
Venezuela Hit by Reenactment of Gold Sanctions
The U.S. Treasury Office of Foreign Assets Control (OFAC) has revoked a license allowing Venezuela’s state-owned gold company, Minerven, to participate in international gold transactions. This reenactment of sanctions was prompted by the Venezuelan government’s failure to review the participation of key opposition figures in the upcoming presidential ballot. Furthermore, the U.S. State Department warned that additional oil and gas-related sanctions would be reinstated if the Venezuelan government did not comply by April.
Despite these sanctions, the president of the Venezuelan National Assembly defiantly responded to the U.S. government’s ultimatum by dismissing it.
Hot Take: Latin America’s Crypto and Economic News
Welcome to Latam Insights, your source for the latest crypto and economic news in Latin America.
In this issue, we covered El Salvador’s commitment to maintaining bitcoin as legal tender, Argentine President Javier Milei removing crypto tax opportunities from an omnibus bill, and Venezuela facing reenactment of gold sanctions.
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