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Argentina opens investigation into Worldcoin amid the growing regulatory scrutiny

Argentina

The government of Argentina has informed Worldcoin that it has launched an investigation into its data collection activities in the country. The Public Information Access Agency (AAIP), the country’s data regulator, sent a letter to the Worldcoin Foundation requesting information on how the organization handles the personal information of Wordcoin users. Argentina has had it […]

Can China save Argentina from IMF default?

Can China save Argentina from IMF default

With the weight of economic turmoil bearing down, Argentina has found itself once again on the brink of defaulting on its IMF debt. However, as the world looked on with a mix of concern and skepticism, a powerful ally emerged to throw the struggling nation a lifeline: China. But can China really save Argentina from […]

Latin American countries are going hard for yuan

Latin American countries are going hard for yuan

As the world’s economic landscape shifts, Latin American countries like Argentina and Bolivia are increasingly turning to the Chinese yuan for international transactions. This growing preference for the yuan reflects the evolving dynamics of global economics and a strategic alignment with Chinese financial mechanisms. Argentina’s reliance on the yuan for IMF payments Argentina’s complicated financial […]

Argentina’s central bank in crisis mode with yuan and USD

Argentina

Argentina’s financial system stands precariously balanced on a tightrope as the country’s Central Bank resorts to desperate measures in an attempt to stabilize a tumultuous economic climate. Grappling with a weakening USD and a hefty yuan loan, the bank now finds itself embroiled in a complex financial crisis that has sent ripples across Argentina’s economic […]

Argentina officially launches its first bitcoin futures contract

Argentina BTC FUTURES CONTRACT

Argentina has officially introduced its first bitcoin futures contract based on a bitcoin index, providing qualified investors with regulated exposure to the cryptocurrency. It is important to know that the contract, published by Matba Rofex, the Argentinian stock exchange, received authorization from the country’s National Securities Commission (CNV) back in April. This marks the CNV’s […]

Argentina to pay IMF with yuan as Brazil readies CBDC

Latam Insights — Argentina Settles IMF Payment in Yuan; Brazilian

Argentina has taken the bold move of making payments towards its staggering $44 billion debt to the International Monetary Fund (IMF) using Chinese yuan, sidestepping the traditional use of the US dollar. This development, coupled with Brazil’s preparation to launch its central bank digital currency (CBDC), signals a new wave of economic maneuvers and a […]

Argentina banks bet on yuan, flipping the USD

Argentina banks bet on yuan, flipping the USD

In an unanticipated monetary maneuver, Argentina is making a bold financial bet. This South American nation is courting the Chinese yuan, in a move that could radically reshape its banking landscape. A flip, it seems, is in the works, a flip from the well-established U.S. dollars to the emergent yuan. Yuan’s entry into Argentina’s banking […]

Javier Milei declares he can dollarize Argentina

Argentina

Presidential candidate Javier Milei of Argentina boldly revealed a plan to implement dollarization of Argentina’s economy at the current market rates. With a strategic campaign plan aimed at eradicating inflation, Milei believes the nation has the necessary resources for this ambitious move. Confidential agreements with undisclosed parties are already in place to provide the liquidity […]

Argentina boosts de-dollarization, eyes yuan swap line

argentina boost de dollarization

In a strategic shift to ease its financial squeeze, Argentina is actively looking to extend its de-dollarization agreement with China. An increased swap line, with funding denominated in Chinese yuan, could offset the South American nation’s dwindling dollar reserves. Stretching Argentina’s financial safety net Sergio Massa, Argentina’s Economy Minister, is spearheading discussions to elevate the […]

Argentina rolls out 2,000 Peso Banknote worth $4 – Inflation at its worst

Argentina

Argentina’s economy is between a hard place and a rock. According to reports, Argentina introduced its largest-denomination banknote on Monday.  According to the available data, inflation is running at more than 100 percent per year, forcing the populace to carry ever-increasing amounts of cash to pay for daily expenses. Argentina registers the worst inflation case […]

Argentina tightens restrictions on payment apps, prohibits crypto transactions

Argentina

In a significant move, Argentina’s central bank has announced that it will be halting the use of cryptocurrencies for payments through payment apps. The decision was made due to concerns about the risks associated with virtual assets and their potential impact on the country’s financial stability. The Argentina central bank issued a statement on Thursday, […]

Brazil to assist Argentina, discusses credit line in Reals

Brazil President Lula to Act as BRICS Liaison to Help Argentina

In an effort to provide economic relief for Argentina amidst its ongoing financial crisis, Brazilian President Luiz Inacio Lula da Silva has pledged to facilitate assistance from the BRICS bloc and negotiate a credit line for Argentine purchases of Brazilian exports using reals. BRICS Bloc Assistance and New Development Bank Rule Change Brazil, as a […]

Argentina eyes LATAM common currency to fix dollar issue

LATAM

Amid concerns regarding Argentina’s foreign reserves and the devaluation of its national currency, Foreign Minister Santiago Cafiero expressed support for the creation of a LATAM common currency. Such a currency, he believes, would alleviate the stress associated with Argentina’s dollar issues. The potential benefits of a LATAM common currency In a recent meeting between Brazilian […]

Inflation-plagued Argentina and Turks seek refuge in crypto

argentina

As inflation continues to plague Argentina and Turkey, citizens of these nations are turning to cryptocurrencies as a safe haven, seeking refuge from their crumbling local currencies. The adoption of digital currencies is remarkably high in both countries, with Turkey leading the world at a 27.1% ownership rate, followed by Argentina at 23.5%—significantly higher than […]

Argentina turns to Yuan for imports as dollar reserves decline

Argentina to Settle Chinese Imports in Yuan to Safeguard Dwindling

In a strategic move to maintain economic activity without putting pressure on its central bank reserves, Argentina has turned to the Chinese yuan for importing intermediate goods from China. This decision, worth over US$ 1,040 million this month, was announced by Argentina’s Minister of Economy, Sergio Massa, during a conference with the Chinese ambassador to […]

Argentine Peso devaluation spurs Bitcoin popularity in Argentina

Argentina BTC FUTURES CONTRACT

As the Argentine peso (ARS) faces persistent inflation, Bitcoin’s (BTC) price reached an all-time high in ARS terms last week. On April 18, the BTC-to-ARS exchange rate surpassed 6.59 million ARS, according to Google Finance price data. Despite a correction to around 6 million ARS, marking a 9% decrease, the price is still more than […]

Argentina approves Bitcoin futures contracts on Matba Rofex exchange

Argentina BTC FUTURES CONTRACT

Argentina’s securities regulator, the National Commission of Value (CNV), has given its stamp of approval for the introduction of Bitcoin futures contracts on the Matba Rofex exchange. However, this marks an important moment in the financial world, as investors can now take advantage of Bitcoin’s price volatility without owning the digital asset itself. These futures […]

Buenos Aires will accept cryptocurrencies to pay taxes

Buenos Aires

TL;DR Breakdown • Capital city promotes the use of new technologies• Buenos Aires + plan will seek to use the Blockchain network Crypto trade is again present in Latin America, specifically in Argentina, where the Chief of the BA Government, Horacio Larreta, accepted cryptocurrencies to pay taxes. Larreta presents a scheme called “Buenos Aires +,” […]

Bitfarm mining facility raises concern in Argentina

Bitcoin price

TL;DR Breakdown Bitfarm mining farm in Argentina breeds concern among government. Lawmaker wants more information on the facility. Bitfarm interested in expanding to Argentina because of cheap electricity. Blockchain infrastructure company, Bitfarm mining has raised an eyebrow in Argentina with its mega-mining farm project. Martín Berhongaray, a national deputy who appears worried and concerned over […]

Cryptocurrency adoption: President Alberto Fernandez is open to crypto

Cryptocurrency adoption

TL;DR Breakdown • Argentine president to create a project for cryptocurrency adoption.• The BCRA has a different view on using crypto in Argentina. Argentine president, Alberto Fernandez, declares that he is open to adopting cryptocurrencies. He said there is a great cryptocurrency debate at the national and international levels and knows that this issue must […]

Argentina President hints country may adopt Bitcoin

Argentina President

TL;DR Breakdown Argentina president hints country could adopt Bitcoin Argentine Central Bank head against Bitcoin adoption Central bank head says Bitcoin a threat to economic stability Argentina President Alberto Fernandez has said that the country is open to the idea of adopting Bitcoin as a legal currency. Alberto, during an interview, said that the country […]

P2P exchanges gain more trades from Argentina as Peso drops

bitcoin

Argentina Peso has been falling, and residents are turning to crypto. P2P exchanges are gaining more trading volume from Argentinians. The country recently imposed a 35 percent tax on US dollar transactions in a bid to save the Peso. The national currency of Argentina, the Peso, has continued to decline, and it appears residents in […]

Bitcoin plays saviour as Peso declines post new Argentine foreign currency rules

Bitcoin plays savior as Peso declines post new Argentine foreign currency rules

Argentine Peso has taken another turn for the worse after the country’s central bank announced new Argentine foreign currency rules. The restrictive new rules governing foreign exchange transactions have put renewed pressure on Argentine Peso which was already struggling to hold on its own amid the pandemic. New foreign currency regulations caused an immediate 10 […]

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