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Latam Insights: Brazil’s Lula Pushes for BRICS Currency; Binance Drops Card Programs

[Aug 28, 2023 5:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Brazil’s President Luiz Inacio Lula Da Silva pushes to issue a BRICS common currency, Binance drops…

Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue

[May 5, 2023 1:30 AM] Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is…

Brazil and China Deepen Trade Integration to Move Away From US Dollar, as First Yuan-Based Settlement Is Processed

[Apr 15, 2023 12:30 AM] Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China. The settlement, which was…

Latam Countries Prepare Regional Agreement to Counter Rampant Inflation

[Mar 4, 2023 5:30 AM] A group of countries in Latam is preparing a regional agreement to address inflation, a problem common to most nations in the region. The initiative, which is being spearheaded by Mexican president Andres Lopez Obrador, would allow the exchange of…

Brazilian Government Preparing New Decree to Clarify Cryptocurrency Rules

[Feb 18, 2023 3:00 AM] The Brazilian government is preparing to release a decree to fill the blank spaces that the recent approval of the cryptocurrency law has left open. The document, prepared by the Ministry of Finance, will establish the areas of oversight and…

Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries

[Jan 25, 2023 6:30 AM] President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border…

Brazil and Argentina to Start Working on Creation of Latam Common Currency

[Jan 24, 2023 5:00 AM] Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration…

Brazilian Cryptocurrency Law Likely to Be Reviewed by Lula’s Government

[Jan 11, 2023 5:00 PM] The recently approved Brazilian cryptocurrency law will likely be reviewed and revised by the newly inaugurated government of Luis Inacio “Lula” Da Silva. According to statements made by the former rapporteur of the law, Expedito Netto…

President of Brazil Sanctions Cryptocurrency Law

[Dec 23, 2022 5:00 AM] President Jair Bolsonaro has approved law 14.478, which regulates cryptocurrency-related operations and virtual asset service providers (VASPs) in Brazil. The document, approved on the last day of the period allowed, will begin to be applied 180…

Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out

[Dec 1, 2022 4:30 PM] A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green…

Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration

[Nov 16, 2022 5:00 AM] A proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by several former presidents of countries in Latam…