Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: the Argentine Peso plunges against the U.S. dollar, Venezuela and Russia agree to develop a joint SWIFT alternative, and Bitcoin mining is still paused in Venezuela. Argentine Peso Plunges 10% Against the Dollar The Argentine…
AI technologies have a vital role in fighting cybercrime by enhancing the most commonly used cybersecurity systems. AI and ML have a crucial role in online fraud detection, where algorithms detect fraudulent activities in online transactions, such as credit cards, online banking or e-commerce transactions. These algorithms can be applied in real-time to identify and flag suspicious activities. A cybersecurity…
The South Korean central bank will be able to access crypto transaction data from exchanges operating in the country. Source: https://cointelegraph.com/public/index.php/news/bank-of-korea-given-right-to-investigate-local-crypto-firms-report
The World Economic Forum (WEF) showcased the facilities and tech employed by a cryptocurrency mining firm and implied its operations were the “biggest winner” for the environment — but it never actually said it was mining crypto. Published on April 20, the WEF video promoted efforts towards reducing flaring — where large amounts of gas from oil production or from…
The Internal Revenue Service (IRS) is planning to send investigators to four countries where they are expected to tackle the use of crypto and decentralized finance products in global financial and tax crimes. According to the tax collector’s spokesperson, the IRS will be able to determine the success of the pilot program by rating the investigators’ “ability to work cooperatively”…
The United States Treasury and a number of top U.S. financial regulators suggested new rules to make it easier for the Federal Reserve to designate nonbank institutions as systemically important, making it easier to supervise and regulate them. In remarks from the Financial Stability Oversight Council (FSOC) Council Meeting on April 21, U.S. Treasury Secretary Janet Yellen raised concerns over…
The central bank of South Korea has been given the green light to ramp up its scrutiny of cryptocurrency service operators and issuers amid further discussions on virtual asset legislation in the country. On April 20, local media outlet The Korea Herald reported the Bank of Korea (BoK) will be given the right to investigate operators of cryptocurrency-related businesses. The…
A Russian crypto entrepreneur, charged with laundering money from ransomware attacks, has been sentenced to probation and fined in the U.S. after pleading guilty. Founder of two coin trading platforms, Denis Dubnikov, was arrested in the Netherlands and extradited to the U.S. last year. Oregon Court Sentences Russian for Processing Ryuk Payments A Russian national accused of money laundering related…
A seven-month-long lawsuit between the United States securities regulator and a firm alleged to have manipulated the price of cryptocurrencies has come to a close with a $2.8 million payment. On April 20, a New York District Court Judge ruled against Hydrogen Technology Corporation and its former CEO Michael Ross Kane in a suit brought by the Securities and Exchange…
The Syrian foreign minister says the U.S. imposes sanctions on Syria and Russia to steal their assets and keep them under its hegemony. The U.S. is “the biggest beneficiary of wars and fueling global conflicts, with the aim of maintaining the dominance of the dollar in the global economy and trade,” said a Russian official. US Sanctions Aimed at Stealing…
