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ARGENTINA WELCOMES COINBASE: A NEW ERA FOR CRYPTO IN LATIN AMERICA!
Coinbase receives regulatory approval to operate in Argentina, expanding its presence in Latin America.
Argentina’s increasing crypto adoption and planned currency liberalization create a favorable environment for Coinbase’s entry.
Coinbase’s expansion aligns with international crypto collaborations.
In a major move, Coinbase has just secured approval from Argentina’s National Securities Commission (CNV) to operate as a Virtual Asset Service Provider (VASP). This marks a significant milestone in the exchange’s ongoing expansion efforts across Latin America.
Following its 2023 launch in Brazil, coinbase entry into Argentina signals a bigger push to cater to the growing demand for crypto solutions in the region. The goal is to strengthen user protection while complying with local regulations.
Argentina’s Growing Crypto Adoption
Coinbase reports that nearly 5 million Argentinians use cryptocurrency daily, with 76% of adults viewing it as a solution to issues like inflation and high transaction fees. Matías Alberti, a former fintech executive from Buenbit and Clara, will lead Coinbase’s operations in Argentina, helping to guide the company’s growth in the country.
With this approval, Coinbase is now able to offer a full range of services, such as buying, selling, transferring, and storing cryptocurrencies. This expansion strengthens Coinbase’s presence in Latin America, particularly in one of the region’s largest economies, further expanding its global reach.
Markets Get Competitive
Coinbase’s move into Argentina comes as the local market becomes increasingly competitive. Binance also registered in the country in October, while Argentina is preparing for significant changes. By 2025, the country plans to allow free currency circulation, which would include cryptocurrencies like Bitcoin for everyday transactions.
Coinbase’s launch in Argentina coincides with growing international crypto collaboration. In December 2024, Argentina and El Salvador signed an agreement to boost the crypto industry, paving the way for Argentina to become a key player in the global digital asset market.
As more countries open their doors to crypto, digital assets continue to be the buzz of the market. We’ll keep you updated!
@ Newshounds News™
Source: Coinpedia
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EL SALVADOR PASSES NEW BITCOIN (BTC) LEGISLATION TIED TO NEW IMF $1,400,000,000 FUNDING DEAL: REPORT
The first country to use Bitcoin (BTC) as a legal tender has reportedly passed a new law that will scale back its crypto efforts.
Reuters reports that awmakers in El Salvador approved a bill to amend the nation’s Bitcoin law in compliance with a deal that the government struck with the International Monetary Fund (IMF).
In December, the government of El Salvador and a staff team from the IMF reached a deal for a $1.4 billion loan facility after agreeing that the Central American nation would allow businesses to decide whether they want to accept cryptocurrency payments.
El Salvador intends to use the fund to support economic reforms. The IMF says the arrangement under the Extended Fund Facility (EFF) will mitigate the country’s Bitcoin-related risks.
“The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies. Legal reforms will make acceptance of Bitcoin by the private sector voluntary. For the public sector, engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined.”
El Salvador’s congress, which is dominated by President Nayib Bukele’s New Ideas Party, approved the reform with 55 votes in favor and two against.
The agreement is still subject to the approval of the IMF Executive Board and conditioned on EL Salvador’s fulfillment of the terms.
@ Newshounds News™
Source: DailyHodl
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UTAH HOUSE COMMITTEE PASSES BILL FOR STATE TO BUY CRYPTO
The bill now needs to pass by majority vote in Utah’s House and Senate before being approved by state governor Spencer Cox, who appears to be pro-crypto.
A Utah House committee has passed a bill that would allow the state to invest a portion of public funds into crypto, with the measure now heading to the House for a vote.
@ Newshounds News™
Read more: CoinTelegraph
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SOUTH DAKOTA REPRESENTATIVE PROPOSES BITCOIN RESERVE BILLS
In what is a continuation of the ongoing trend in the United States, one South Dakota representative has proposed not one but two Bitcoin reserve bills. Indeed, state lawmaker Logan Manhart is seeking to make South Dakota one of many hoping to establish a strategic BTC reserve in their state.
The move has made South Dakota the 15th state to introduce a bill that would establish such a reserve, according to Dennis Porter. Moreover, one of the introduced laws would see the state allocate 10% of public funds to acquiring Bitcoin. Additionally, the state is looking to explore the leading cryptocurrency as a hedge against potential inflation.
@ Newshounds News™
Read more: Watcher Guru
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