Colombian President Gustavo Petro Meets with Blockchain Experts
Colombian President Gustavo Petro recently held a meeting with a group of blockchain experts to explore the potential adoption of blockchain technology in government projects and the benefits it can bring.
The meeting involved discussions with various blockchain proponents, including JAN3 CEO Samson Mow, JAN3 Marketing Director Raul Velasquez, JAN3 CMO Edwin Rivas, RSK Labs co-founder Diego Gutierrez, Bingx International Operations Consultant Cristian Quintero, and Tropykus co-founder Mauricio Tovar. They discussed the implementation of blockchain systems in health billing and land registry applications.
During the meeting, President Petro also expressed interest in using bitcoin to finance free work cooperatives in popular areas, seeing the potential of these tools for the prosperity of the people.
Brazilian Senate Passes Law on Taxing Cryptocurrency Purchases via Foreign Exchanges
The Brazilian Senate has approved Bill 4,173/2023, which introduces taxes on Brazilian investments made through foreign exchanges, including cryptocurrency purchases. The bill, currently awaiting presidential sanction, changes the tax rate for cryptocurrency income gains, setting it at 15% for any amount of income earned.
However, experts have raised concerns about the bill’s applicability and lack of clarity. The bill does not specify which assets will be taxed and does not provide a clear definition of what constitutes a foreign investment.
Maria Carolina Sampaio, head of the tax area and partner at GVM Advogados, has highlighted the broad and vague nature of the bill, noting the need for clearer guidelines on which exchanges will be considered offshore.
Argentine Fintech Chamber Proposes Tokenization Regulation
The Argentine Fintech Chamber has presented a set of proposals aimed at regulating the tokenization of real-world assets (RWA) in Argentina. In a document submitted to Argentine President Javier Milei, the chamber suggests the adoption of a limited sandbox to test the functionality of tokenization for various use cases.
The chamber also proposes including processes to verify that issued tokens are linked to the underlying assets. This would involve providing information on taxes and procedures for completing the tokenization of these assets, as well as allowing notaries to physically examine the assets.
Hot Take: Latest Crypto and Economic News in Latin America
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week:
– Colombian President Gustavo Petro held a meeting with blockchain experts to explore the adoption of this technology in government projects.
– The Brazilian Senate passed a law taxing cryptocurrency purchases made through foreign exchanges, with pending presidential sanction.
– The Argentine Fintech Chamber proposed a tokenization framework for real-world assets, aiming to establish regulations and processes for tokenizing assets in the country.
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