Ezequiel Aauche, Argentine entrepreneur-senator and a member of the Argentine Senate, recently submitted a motion that included bitcoin mining and the blockchain technology in the list of activities supported. This would ensure their inclusion within existing laws.
Brazil is also seeing a rapid increase in Bitcoin ATMs.
The change is seen as an acknowledgement of the technology of these sectors, and that they are in line with the goal of the law to promote knowledge-intensive activity and innovation.
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While bitcoin mining and the development of blockchains aren’t officially covered by the laws in place, the suggestion argues that their technical intensity is compatible with law-making purposes.
The formal inclusion of these companies could help address regulatory issues currently in place and expand their operations to Argentina.
In his speech, Senator Atauche stressed the importance of regulatory clarity and the availability of sustainable energy infrastructure in order to maximize the impact that cryptocurrency mining can have on the economy.
He proposed incorporating a new subsection in Article 2 of Law 27,506, formalizing the inclusion of blockchain and cryptocurrency-related activities within the promoted sectors.
Atauche claimed that the amendment not only would advance technology, but it also could drive innovation in software, hardware, cryptography and cybersecurity. This, in turn, will optimize resource use in mining.
Brazil is seeing a surge of Bitcoin ATMs due to the growing adoption of cryptocurrency
CoinATMRadar data shows nine Bitcoin ATMs in Brazil’s largest cities, including Sao Paulo, Rio de Janeiro, Petropolis, Sao Bernardo do Campo, and Bauru.
The rapid uptake of cryptocurrency by Brazilians is evident in this significant growth. In 2021 there were only four ATMs.
Coin Cloud played a major role in the expansion of ATMs, and has taken significant steps to increase their availability in urban centers.
This plan aims to not only meet the current demand but to also promote greater awareness and acceptance of cryptocurrency in Brazil.
Coin Cloud has plans to expand its operations in order to increase Brazil’s position in the crypto environment.
Cardano Constitutional Convention begins in Argentina
Intersect officially announced that the Cardano Constitutional Convention will begin in Buenos Aires. More than 120 delegates are expected to work together on the finalization and approval of the Cardano Constitution.
This historic event is a significant step towards developing a robust governance framework to guide decision-making within the Blockchain ecosystem.
Charles Hoskinson is the founder and CEO of Cardano. He said, “With the strong Latin American representation, and the support of Intersect, this convention showcases the power of an inclusive and truly global community in shaping a blockchain future that’s more innovative and equitable for everyone.”
Intersect, a membership organisation of the Cardano eco-system, believes that the Constitutional Convention is a turning point in the governance of blockchains.
The governance model proposed includes decentralized representative (DReps), decentralized treasury and on-chain voting processes.
The program is a concerted effort to integrate democratic ideals in Cardano’s operating architecture. It encourages openness and participation of the community in decisions.
This convention will take place simultaneously in Buenos Aires, and Nairobi. It is the culmination of two years’ planning. 65 workshops were held in over 50 countries, and more than 2,000 members of the community participated.
Key goals of the convention include developing a local talent pool, releasing resources to support future technology developments and building a future decentralized.
Cardano focuses on Argentina to highlight the continent’s growing leadership in innovation decentralization and financial inclusion. The goal is to leverage local expertise for global growth.
The post LATAM Crypto Update: Argentine Senator eyes crypto mining, Bitcoin ATMs in Brazil surge may be updated as new information unfolds.
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