Although cryptocurrency adoption in Venezuela has declined in the last year, it continues to grow thanks to the opening of the national banking system to the purchase and sale of these assets, consolidating its position as the key channel for this sector.

This was reported on Wednesday, February 11, by Aníbal Garrido, director of the Blockchain, Trading, and Crypto (BT&C) Academy at Andrés Bello Catholic University.

The specialist indicated that “despite the recent foreign currency injections by the Central Bank of Venezuela (BCV) to stabilize the exchange rate, digital currencies maintain a strong presence in the economy.”

Regarding the role of banks before cryptocurrencies, he stated: “The banking sector is a crucial ally. It acts as a ‘railway’ or gateway for cash-in and cash-out transactions. Although banking institutions cannot perform direct exchanges, they allow exchange houses to carry out instant transactions.”

Garrido noted that in Venezuela, the trading of digital assets has a clear legal framework, recalling that the National Superintendency of Cryptoassets and Related Activities (Sunacrip in Spanish) has been the entity responsible for regulating the sector since 2023. “The legality of using cryptocurrencies is established in the 2019 Constituent Decree, and BA VEN-NIF 12 regulates the accounting records of digital assets,” he added.

M.Pino

Source: criptopasion

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La entrada Venezuelan banking system is a key platform for cryptocurrencies apareció primero en Bitfinance.

In its sixth “LATAM Blockchain Report 2025: Ecosystem and Regulatory Updates in Latin America,” Sherlock Communications revealed that cryptocurrency adoption in Peru has surpassed 1 million users and that the South American nation is moving toward establishing a clear regulatory framework.

The agency indicates this increase in crypto adoption is driven by the “search for economic protection and facilitated by interoperability with local digital wallets. It is being accompanied by the government’s first steps to establish a clear regulatory framework.”

According to Sherlock Communications, there are currently more than 1.28 million cryptocurrency users in Peru, equivalent to approximately 3.7 % of the population, clearly indicating that the number of digital currency users has doubled in less than two years.

With these figures, the country is ranked 42nd in Chainalysis’ Global Crypto Adoption Index 2024, a jump from 49th in 2023. Furthermore, Peru has consolidated its position as the seventh-largest crypto market in the region in terms of transaction volume, the publication added.

In the Latin American nation, citizens are turning to cryptocurrencies as a form of investment or as a hedge against economic uncertainty. Stablecoins, known as “crypto dollars,” represent approximately 12 % of user assets on the main platforms.

M.Pino

Source: cointelegraph

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La entrada Cryptocurrency adoption in Peru surpasses 1 million users apareció primero en Bitfinance.

The city of Lima will once again host the Peru Blockchain Conference on June 20 and 21. The capital of the South American country is moving toward consolidating crypto adoption, a sector expected to attract approximately 4.5 million users.

On the other hand, the nation is moving forward to strengthen the cryptocurrency market, where it expects to exceed $300 million.

This year’s meeting will allow participants to learn about local and regional developments in topics such as blockchain, digital assets, and marketing in Peru. More than 1,500 people are expected to attend, along with 100 global speakers and leading industry companies, who will enjoy a variety of activities at the CIP San Isidro Convention Center in Lima, Peru.

Other topics that will be addressed at the Peru Blockchain Conference include regulation and governance, DeFi, dApps, tokenization, artificial intelligence, Forex/Crypto trading, financial markets, and the battle of the traders.

M.Pino

Source: cointelegraph

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La entrada Lima prepares for the Peru Blockchain Conference in June apareció primero en Bitfinance.

France authorized investing in Bitcoin for retirees, through an alliance with VanEck Europe, with the creation of an exchange-traded fund.

People who retire, ceasing their work activity, will then be able to invest in Bitcoin as a savings mechanism.

The alliance with VanEck Europe “marks a milestone in the French financial landscape, combining financial innovation with security to offer savers a modern tool to diversify their long-term investments.”

It must be clarified that bitcoin will be a complement to the retirement savings strategy and “not as a substitute for traditional assets. In this case, it is a controlled exposure, allowing savers to diversify their portfolio while minimizing the risks associated with directly holding cryptocurrencies.”

This is a great advance by the country towards the “modernization of the financial sector and responds to the expectations of a new generation of investors who seek diversified and modern savings options.”

The French government is betting that the initiative will help strengthen the trust and credibility of the most conservative investors towards digital assets, since it would increase the demand and price of bitcoin.

Investing in bitcoin could help retirees increase their wealth with the confidence that cryptocurrencies provide, so that when they retire, they have sufficient means for maintenance and expenses.

M.Pino

Source: cointelegraph

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada France authorizes investment in Bitcoin for retirees apareció primero en Bitfinance.

The adoption of cryptocurrencies in India has increased to the point of positioning the country as second in this market, according to a report by Chainalysis.

Data from this platform shows “Central, Southern and Oceanic Asia (CSAO) as one of the world’s leading cryptocurrency hubs. Meanwhile, India emerged as the second-largest digital asset market by transaction volume.”

Despite tough regulations applied to cryptocurrencies and high taxes on crypto profits of 30 % and a 1 % tax on all digital asset transactions, India is making headway in crypto adoption.

Likewise, the country is at the top of the rankings in “NFT protocols, lending protocols, centralized exchanges and use of decentralized exchanges.”

While on the one hand companies fight against rough taxes, transactions in digital currencies are increasing.

M.Pino

Source: es.investing

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La entrada Cryptocurrency adoption increases in India apareció primero en Bitfinance.

The United States currently remains at the top of Bitcoin mining. However, this situation could change due to the turbulence in this sector, in addition to the banking crisis, and catapult Russia to the first place.

China remained the main country in the Bitcoin mining sector; then the United States positioned itself. But the current circumstances related to the energy crisis, the bankruptcy of several important banks inside and outside the country, as well as state regulations on mining, pose an adverse scenario.

In this sense, Russia is advancing quickly according to the Russian company BitRiver, which operates cryptocurrency mining facilities with hydroelectric power.

From the company, they point out that “Russia’s mining capacity reached 1 gigawatt in January-March 2023, placing it in second place for the first time.”

Igor Runets, CEO of BitRiver, stated that the country’s move up the rankings “comes as the pace of mining in the United States slows due to rising electricity prices and the abolition of tax incentives.” Additionally, he indicated that the miners acquired the equipment on credit and now there are bankruptcy cases that destabilize the sector.

To this panorama we must add that in this year’s budget, the Treasury Department proposed a special tax of 30 % on the cost of feeding crypto mining farms.

Russia, on the other hand, shows a more favorable scenario towards bitcoin miners. Putin’s government recently reported that it will “subsidize a new 100-megawatt mining center in eastern Siberia.” According to BitRiver, said center will be exempt from paying land or property taxes. Additionally, you will have the benefit of a reduced rate of income tax and electricity will be subsidized at 50 % of the current rate.

M.Pine

Source: criptocity

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La entrada Russia closes gap with the United States in Bitcoin mining apareció primero en Bitfinance.

In a recent interview in “Tucker Carlson Today”, Nayib Bukele, president of El Salvador, indicated that among the benefits of adopting Bitcoin as legal tender in 2021 is the increase in national tourism.

According to Bukele, this sector had a growth of 95 % thanks to the opening that the Central American nation has given to the use of the Bitcoin cryptocurrency in payment systems.

“Our tourism grew by 95 % and that is partly due to Bitcoin. There are many bitcoiners who want to travel to the only country where Bitcoin is legal tender.”

He added that in El Salvador not only has tourism improved but, thanks to the adoption of Bitcoin, they have “received a lot of private investment.”

Bukele emphasized the strength of the digital currency to face economic sanctions. He pointed out that it is used even in countries where it is not authorized. About Bitcoin, he said: “It is not possible to ban it. It cannot be censored. Even if you want to censor it, you can’t.”

At this point in the interview in “Tucker Carlson Today”, the president of El Salvador referred to the restrictive position of the International Monetary Fund, as well as the World Bank, the Federal Reserve of the United States since the adoption in the country of Bitcoin as legal tender. He indicated that they have misrepresented reality with misleading or false news.

M.Pino

Source: cryptocity.press

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La entrada Nayib Bukele affirms that Bitcoin boosted tourism 95 % in the country apareció primero en Bitfinance.