Thursday, March 28

Bitcoin in Spanish: El Salvador in red, taxes in Colombia and regulation in Spain


Key facts:
  • Spain published the regulations that will govern advertising on bitcoin.

  • Inflation takes its toll on Argentina, Chile and Spain.

Bitcoin in Spanish is a weekly newsletter from CriptoNoticias in which we review the most important news related to bitcoin, cryptocurrencies and blockchains in the Hispanic world.


The main news of the past week was, without a doubt, the fall of bitcoin and the rest of the cryptocurrency market. Therefore, it is not surprising that among the protagonists of this newsletter we find the negative balance presented by the portfolio of El Salvador, with the price of BTC more than 20% below the average purchase price of the coins acquired by President Nayib Bukele.

They also highlight, among the novelties that left the week, the alleged request for transaction data on P2P exchanges in Colombia from the tax authority or the regulatory advances in Spain regarding advertising focused on cryptocurrencies.

Advertising

For more details on this and other information from the last 7 days, we leave you with a new installment of Bitcoin in Spanish, the CriptoNoticias bulletin on events related to cryptocurrencies in the Spanish-speaking world:

Argentina

We start with our usual stop in Argentina, where applications like Strike or Lemon Cash fight to dominate the bitcoin app market for mobile devices. And although it began to be spread through social networks that Strike was leading the downloads on Google Play in the South American country, in CriptoNoticias we deny said information. The popularity of these applications is evident in cases such as that of Mónica Quiroga, who takes care of cars in a spa and receives tips with bitcoin through Lemon.

Poster in which Mónica exposes her forms of payment: pesos, dollars and bitcoins. Source: Imneuquen.

What is certain is that Mercado Libre is stepping harder and harder in the world of cryptocurrencies. Now, the company has acquired shares of the Brazilian exchange Mercado Bitcoin and of Paxos, the company behind the stablecoin used in the Facebook wallet –Novi– which is also associated with Mercado Pago.

Finally, Deputy José Luis Espert speculated on the possibility that Argentine inflation reach 100%, in case the government does not reach an agreement for the payment of foreign debt with the International Monetary Fund. And this, in his opinion, “is not at the top of the agenda.”

Chile

After Chile’s currency, the peso, hit historically low levels against the dollar, in CriptoNoticias we consulted local analysts about this scenario and the possible implications for bitcoin in the South American country. The result of those talks was published this week.

Colombia

Colombia and the problems with the exchanges seem to be becoming synonymous. After several conflicts with accounts in Binance, this week a report came out according to which, allegedly, the Colombian tax authority would be reviewing declarations from previous years in which users omitted information about their operations on sites such as LocalBitcoins.

On more positive notes, we see the growth in adoption in the South American country, with two news in recent days: on the one hand, the results of a Finder survey, according to which Colombia is the third country in the world with the highest growth in owners of cryptocurrencies between October and December. On the other hand, the arrival of new bitcoin ATMs is approaching thanks to the Spanish company BitBase.

The Savior

We arrived in El Salvador. The president of the Central American nation, Nayib Bukele, took advantage of the fall in the price of bitcoin in recent days, and bought another 410 BTC for the national reserves, which now they exceed 1,800 BTC.

It is the first time that Bukele acquires bitcoin below 40,000 dollars, the president’s average purchase price is around 48,000 dollars per unit and his portfolio is now in quite red numbers, as we reviewed in CriptoNoticias.

Also this week the government announced that it will create, in collaboration with the company Astro Babies, a virtual casino (plus a physical venue) in which non-fungible tokens (NFT) will be traded. Additionally, small local businesses will be able to opt for bitcoin credits through a decentralized finance (DeFi) protocol called Acumen.

Spain

In Spain, the National Securities Market Commission (CNMV) published the regulations that will govern advertising related to bitcoin and cryptocurrencies. The main objective of this regulation is to avoid “veiled advertising” of investments, in cases such as those of influencers that refer to various platforms without that traditionally being considered advertising.

While the government targets advertising about investments in cryptocurrencies, data from the Spanish food market shows growing inflation in the European country, where it is more profitable to invest in BTC than to buy a house and live on its income.

In parallel, the Spanish are becoming more and more interested in Bitcoin and its philosophy. The book The philosophy of Bitcoin sweeps sales on Amazon Spain. «N°1 in Politics. No. 1 in Philosophy. No. 1 in Economics. No. 41 in the Kindle Store in the top 100 », wrote its author, the Spanish researcher Álvaro D. María.

Mexico

Mexican senator Indira Kempis, one of the most influential personalities last year in the country’s bitcoin environment, wants to bring the Salvadoran model to Mexico. After visiting El Salvador, Kempis positively valued the experience of this nation with cryptocurrency, which was adopted as legal tender less than 6 months ago.

Paraguay

Paraguay, a country in which the word “bitcoin” has become more and more common, could have a new ATM in the near future to operate with this cryptocurrency. At least that is what the Counter Commerce company plans, which is exploring the possibility of installing one of these machines in Asunción, the Paraguayan capital.

Peru

The 9780Bitcoin.com exchange began to export its model of physical stores for the sale of bitcoin and cryptocurrencies. This week, the company inaugurated its first headquarters outside Peru, its birthplace. With a first store in Sao Paulo, Brazil, this exchange begins an expansion that has more locations on the horizon in the Amazon and then to MexicoSergio Rivera Velarde, CEO of the Peruvian company, commented exclusively for CriptoNoticias.

In its first store in Brazil, the Peruvian exchange 9780Bitcoin.com offers personalized advice. Source: 9780Bitcoin.com.

Venezuela

A new kidnapping for ransom demanded in bitcoin occurred last week in Venezuela. The incident occurred in Zulia state, the same state in which months ago criminals murdered a merchant whose relatives were unable to pay the ransom requested by them in BTC. On this occasion, there was a happy ending, with the police forces releasing the victim, for whose release they asked for a total of 10 BTC (more than 300,000 dollars).

events of the week

Among the events related to bitcoin, cryptocurrencies and blockchains in the region for this week, the following stand out in the CriptoNoticias calendar:

  • Monday, January 24: «Digital currencies», organized by Web3 Latam.
  • Tuesday, January 25: «DeFi Nation», an event organized by Web3 Latam.
  • Wednesday, January 26: «NFT’s». Organize web3 Latam.
  • Thursday, January 27: “Introductory talk to Bitcoin and Blockchain”, by the NGO Bitcoin Argentina.
  • Friday, January 28: «Blockchain x Social Impact», by Web3 Latam.

Businesses that accept cryptocurrencies in Spanish-speaking countries

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

We invite you to share the information with us through [email protected]. We will inform about the adoption of cryptocurrencies of that business in some of the Spanish-speaking countries.





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