Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazil pushes BRICS to use national currencies instead of the dollar, bitcoin adoption reaches critical levels in El Salvador, and smart contracts achieve legal status in Argentina. Brazil Pushes BRICS to Shift From […] Source: https://news.bitcoin.com/latam-insights-brazil-pushes-brics-away-from-the-us-dollar-bitcoin-adoption-falters-in-el-salvador/
The tax cut down to 20% is part of Democratic Party for the People leader Yuichiro Tamaki’s broader plan to make Japan a Web3 leader. Source: https://cointelegraph.com/news/japan-political-party-leader-pledges-to-lower-crypto-taxes-to-20-percent?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
High open interest signals more leverage, which could induce another flush-out if positions are liquidated. Source: https://cointelegraph.com/news/bitcoin-open-interest-exceeds-40-billion-as-brushes-almost-70k?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Before bitcoin’s fourth halving, the crypto asset soared to a peak of $73,794 on March 14, as recorded on Bitstamp. During the period from March 10 to April 10, bitcoin’s hashprice—representing the estimated daily earnings for 1 petahash per second (PH/s)—fluctuated between $105 and $125 per PH/s. Fast forward to this week, and as BTC […] Source: https://news.bitcoin.com/the-next-big-leap-for-bitcoin-miners-what-it-takes-to-reach-100-hashprice/
Buterin recommended capping the amount of Ether a user can stake and limiting staking penalties to 12.5% of staked Ether. Source: https://cointelegraph.com/news/buterin-proposes-solutions-ethereums-centralization-woes?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
The Federal Reserve Bank of Minneapolis suggests that a ban or tax on Bitcoin could ensure its ability to run permanent budget deficits. Source: https://cointelegraph.com/news/governments-either-tax-ban-bitcoin-maintain-deficits-fed?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Russian President Vladimir Putin has emphasized the need for independent financial systems within BRICS, focusing on developing an alternative to Swift. He addressed the idea of a shared BRICS currency but urged caution, noting that it’s not yet fully developed. His remarks hinted at careful, deliberate moves, with broader financial strategies still unfolding. Russian President […] Source: https://news.bitcoin.com/putin-discusses-brics-currency-and-swift-alternative/
Bitcoin’s rise is enriching early adopters at the expense of society, according to a paper by European Central Bank (ECB) economists. They argued that bitcoin’s speculative growth leads to wealth redistribution, where early investors gain while non-holders and latecomers are left poorer. Economists warn this dynamic could harm societal stability, deepening inequality and threatening democracy […] Source: https://news.bitcoin.com/how-bitcoins-success-could-be-fueling-poverty-for-latecomers-and-non-holders-ecb-economists-claim/
DeFi protocol Tapioca DAO said it was hacked for $4.7 million, now its offering its attacker a “significantly higher” bounty to try get most of the funds back. Source: https://cointelegraph.com/news/tapioca-offer-bounty-to-4-million-phishing-attacker?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Russian President Vladimir Putin has unveiled a plan to introduce digital currencies as a key tool for investment for the BRICS alliance. This proposal aims to boost economic growth in developing nations, with a focus on minimizing inflationary risks. By involving BRICS members and other developing countries, Putin sees this initiative as a critical step […] Source: https://news.bitcoin.com/russia-pushes-digital-currency-plan-for-brics-is-this-the-end-of-western-financial-dominance/
