The International Monetary Fund seeks to stop cryptocurrencies and inflation is growing in Argentina

Key facts:
  • Leonardo Cusitorto, CEO of Generación Zoe, creates a new project with the same fraudulent scheme.

  • Mexico’s cartels prefer banks, not bitcoin, for their illicit activities.

Bitcoin in Spanish is CriptoNoticias’ weekly newsletter where we review the most important facts related to Bitcoin, cryptocurrency and blockchain in the Spanish world.


News of the Argentine ecosystem grabbed the majority of the media attention this week. The clause of the agreement signed by the country with the International Monetary Fund (IMF), which asks to discourage the use of cryptocurrencies, has sparked alarms for bitcoin.

Statistics on inflation and the economic crisis are another concern of Argentines and Venezuelans. This, while some aspects related to legal and regulatory decisions, along with news about the Ponzi Generation Zoe scheme and money laundering in cryptocurrency, They have also been in the debate of public opinion in Latin America.

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To go into the details of the news of each Spanish-speaking country over the past week, we leave you the latest Bitcoin in Spanish.

Argentina

Bitcoin Argentina, a non-governmental organization, has asked the government for access to General information regarding the latest agreement signed with the International Monetary Fund.

The request was addressed to the Minister of Economy, Martin Guzman, in which he referred to the implications of one of the sections of the agreement that spoke of establishing policies aimed at commend Cryptocurrency market.

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For this reason, the NGO asked Guzmán for clarifications about the measures that the government will implement, under the new program with the International Credit Organization.

Relevant participants in the Argentine bitcoin system, including Franco Bianchi and Franco Amati, agree that there is still enough information to get an idea of ​​the implications. Currently, The forecast seems uncertain.

Meanwhile, Argentina’s monthly inflation rate reached 4% during February, A percentage higher than that of Venezuela (the most bloated country in the region) in the same period.

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inflation data One of the indicators of economic problems affecting the South American country, whose progress drives citizens to use bitcoin. This fact was recognized by Diego Fernandez, Minister of Innovation and Digital Transformation in the Government of Buenos Aires. The official realized that cryptocurrency helps to survive the crisis.

Annual inflation in Argentina
The annual inflation rate in Argentina is around 50.7%. Source: France24.

For its part, Banco Santander, together with Agrotoken, launched a loan program For Argentine farmers With tokens developed on Ethereum, Polygon, and Algorand. The prices of these digital assets will be linked to the prices of raw materials such as soybeans, corn and wheat.

In terms of security, it has been learned that Leonardo Cozitorto, promoter of Zoe Cash token and CEO of Generación ZOE – is now a fugitive from Argentine justice – Create a new project It’s called the sunrise coach.

The promoter, accused of fraud, presented a Zoom conference from an unknown location to talk about the alleged benefits of his project, while Leave without your money Many participants in the scheme of the old generation Zoe.

In the face of complaints about the Generación ZOE, Leonardo Cozitorto has launched a new show called Sunrise Coach. Source: screenshot / youtube.com.

On the other hand, at the beginning of the week, a hack of Mercado Libre was reported, presumably Another infection by the cybercriminal group Lapsus $. Through the attack, access to the data of 300,000 users and the source code of the platform was violated.

savior

The Central American country is waiting to launch a bitcoin-based bond, also known as a volcanic bond. But first, a package of 52 laws that will serve as the basis for operating the bonds must be approved.

This was said by President Neb Bukele this week The first 10 legal reforms will be announced. Finance Minister Alejandro Zelaya said that if these reforms go ahead, the volcanic bonds will likely be ready anytime between now and March 20.

Meanwhile, in the Salvadoran capital, various government entities and a Christian institution called Jerusalem are distributing 9,000 scholarships. For young people to learn how to trade bitcoin. The training is provided by Harvest Trading Cap Academy, a Dominican Republic company dedicated to investing in the stock market and trading cryptocurrency.

Spain

In tax matters, the lack of sufficiently clear criteria for properly declaring taxes on cryptocurrencies, by the tax authorities in Spain, It creates uncertainty among investors. This was expressed by the Spanish economist Juan Ramon Rallo.

Rallo spoke about the tax issue with Paula Urcera, who is responsible for tax affairs at TaxDown, and Alberto Toribio, head of corporate relations at CryptoPlaza.

Spain requires residents who invest in cryptocurrency to pay taxes on the performance of various products. However, the rapid growth of the sector, as well as the diversity and usefulness of products It seems to complicate the picture.

The video focused on identifying the tax implications of investments in crypto assets, such as Bitcoin in Spain. Source: YouTube.

On March 14, the European Parliament voted 32 to 24 against the final version of an EU bill that included a controversial rule that would affect bitcoin mining.

However, despite the vote, which had been postponed weeks ago, mining is not as far out of danger as opposition lawmakers, including some from Spain, You still have a chance Appeal the decision.

Mexico

According to the report of the International Narcotics Control Board (INCB), conventional banks still Favorite Mechanisms for money laundering.

The agency, which carries out coordinated work with other organizations made up of member states of the United Nations, investigated the activities of drug cartels in Mexico, including Jalisco Nueva Generation and Sinaloa.

It shows that although there has been an increase in the use of cryptocurrencies in small quantities, the movements of these criminal groups are based on wholesale cash smugglingAlternative remittance systems (such as hawala) and mobile payments

Venezuela

In a controversial decision, Venezuela’s Supreme Court of Justice this week overturned Court Protection That Preferred a Bitcoin Mining Companywhose equipment was confiscated by the National Cryptoactive Superintendence (SUNACRIP).

Venezuela’s highest judicial body has overturned the opinion of the Capital Region’s First National Administrative Tribunal for Disputes, which, in November, ruled against SUNACRIP. The decision was made after the agency inspected two mining farms and grab equipmentclaiming that these activities were not recorded.

Although recent data indicate that Argentine inflation was higher than that of Venezuela in February, Venezuela is still affected by the phenomenon of inflation. During this period, inflation in the Caribbean nation was 1.7% Compared to more than 4% in Argentina.

The sense of improvement, though, has to do with the fact that the country ruled by Nicolás Maduro has experienced five consecutive months of sub-double-digit monthly inflation, and twelve months with inflation below 50%. A fact that pulled him out of hyperinflation, But not from the economic crisis who suffered for several years.

Inflation in February 2022
The annual inflation rate in Argentina is around 50.7%. Source: France24.

Week events

Among the events related to Bitcoin, cryptocurrency, and blockchain in the region for this week, the following stand out on the CriptoNoticias calendar:

Wednesday 16 March: “NFT’s”, Discussion on Non-fungible Tokens, organized by Web3 Latam.

Thursday 17 MarchWebinar “Introductory Discussion on Bitcoin and Blockchain”, organized by the NGO Bitcoin Argentina.

Thursday 17 March: “Decentralab,” An introductory discussion of the world of DAOs and decentralized governance organized by Web3 Latam.

Friday March 18: “Blockchain X Social Impact”, an event organized by Web3 Latam.

Monday March 21: «Weekly Cryptocurrency Meeting», from Web3 Latam.

Companies that accept cryptocurrency in Spanish-speaking countries

Do you know or have a small business that accepts bitcoin and other cryptocurrencies for their products and services?

We invite you to share information with us through [email protected] We will report the adoption of cryptocurrencies for this work in some Spanish-speaking countries.

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