In the midst of the changes that are being experienced in Argentina, particularly established by President Javier Milei, the country is at the top of the adoption of cryptocurrencies.

It is estimated that in the country, more than 20 % of citizens own and trade digital currencies, which is significant when compared to the data from the last census, which determined a population of 46 million people.

The increase in the adoption of cryptocurrencies is supported by the desire to protect themselves from the devaluation of the peso, according to the Argentina Capital Crypto report, “prepared by the Lemon virtual wallet” and which studies “the regulatory and tax panorama of the sector, composition of the local ecosystem and the unique opportunity that the nation has to become a major global player.”

Inflation in Argentina is hitting the peso, the local currency, hard. Consequently, citizens look for financial alternatives that provide them with security and confidence.

Currently, digital currencies are integrated into the daily economy through various platforms that operate in the country. According to accountant Lucas Strasorier to iProUP, “what was previously difficult became routine. The platforms have made it easy to buy, sell and use cryptocurrencies. They can be used quickly, cheaply and securely to send and receive money outside the country. This makes them a great option for those who have family or friends abroad.”

M.Pino

Source: iProUP

(Reference image source: Ewan Kennedy at Unsplash)

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La entrada Argentina leads cryptocurrency adoption in Latin America apareció primero en Bitfinance.

One day after the entry into force in El Salvador of the Bitcoin Law, which establishes the cryptocurrency as legal tender, the Parliament of Ukraine approved its Virtual Assets Law this Wednesday in a second discussion, with 276 votes in favor. With this action, the Eastern European nation becomes part of the crypto assets ecosystem, its rules, risks and possibilities.

The buying and selling of bitcoin and other crypto is now legal in Ukraine. Until the approval of the Virtual Assets Law, which occurred on September 8 in a Parliament vote, bitcoin trading was not legal.

Adopted the Law of #Ukraine on Virtual Assets. The purpose of the Law is to comprehensively regulate the relations arising on the creation, issuance and circulation of virtual assets. pic.twitter.com/EPgIT6uSSq

— Verkhovna Rada (@ua_parliament) September 8, 2021

According to local and international media, with the approval of the bill, the authorities seek to establish the regulatory framework and clear rules for the use of bitcoin, in addition to providing protection to users from crimes related to the crypto universe.

In the approval of the new law, the position of the Ministry of Digital Transformation of Ukraine has had a strong influence, through Minister Mykhailo Fedorov, who has detailed the intentions of establishing an alliance with the Binance exchange, concentrating on the “creation of effective mechanisms for the transfer of rights to any virtual asset or currency using blockchain technology.”

M.Pino

With information from international media, agencies and social networks

La entrada Ukraine legalizes the purchase and sale of bitcoin apareció primero en Bitfinance.

Marcos Galperin, founder of the electronic commerce company Mercado Libre, assures that bitcoin has turned out to be the “better store of value than gold”. This was announced by the Argentine billionaire after a query made by Twitter users who asked him if he had bitcoin.

However, he added that even when cryptocurrencies have taken a position in the market, he does not believe that they will replace fiat currency, due to what he calls the high “cost of energy required to process his transfers.”

Galperin, who has an equity valued at USD 7.7 billion, according to Bitcoin.com, is betting on “quantum computing” as an alternative to solve the challenge of high energy costs that in his opinion he considers affects the bitcoin network.

Bitcoiners in opposition

Faced with this assertion, responses were generated from many bitcoin users, such as Martín Morando, who explained that Galperin’s mining understanding may not be so accurate. “The energy cost is not a problem, it is part of the package! In addition, most of the energy used is renewable.”

On the other hand, other users like Mathías Walkoski, assured that quantum computing “could cause the cryptographic keys of BTC to be hacked.”

K. Villarroel

Source: diariobitcoin

La entrada Mercado Libre founder qualifies bitcoin as the best store of value apareció primero en Bitfinance.