South America: Crypto and Blockchain News Roundup 12-18 October 2018

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South America: Crypto and Blockchain News Roundup 12-18 October 2018

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South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news, continent by continent and country by country.


Presidential Candidate Fernando Haddad Announces His Government Plans on Blockchain: Brazilian presidential candidate Fernando Haddad has announced that he has released his future plans for the government on blockchain to combat fake news and propaganda against him. The move came after a notorious campaign was launched against him which is in contradiction to what he has promised in his plan.

Haddad’s plan was launched on Decred’s blockchain system in partnership with Brazilian company OriginalMy earlier this week. The release was a success and showcases Haddad’s ability to forward a progressive approach towards blockchain innovation. Haddad’s rival far-right candidate, Jair Bolsanaro is also interested in blockchain technology and both have promised to help promote the industry in the South American country.

Brazilian Specialist Says USD Tether’s Decrease in Prices Will Impact Cryptocurrencies Significantly: Brazilian Bitcoin specialist Paulo Boghosian believes that cryptocurrencies will be affected by the recent drop in prices of the USD Tether.

Boghosian believes that actions of the Tether company and liquidity issues are worrying signs and will result in massive issues for the industry if not resolved. However, he did point out that other stablecoin options are also available including TrueUSD, Gemini, Pax and USDC and they will help maintain enough competition to help it not become a short-term problem. However, if Tether is facing an insolvency issue, then the alternatives may not be of much help.

Boghosian is a lecturer at the Blockchain Academy and currently teaches an investment course there.

State Deputy Defends Blockchain and Wants Government to Be More Decentralized: State deputy from Rio Grande do Sul, Fabio Ostermann is one of many cryptocurrency-advocating government representatives in Brazil according to a latest interview.

Ostermann was of the opinion that decentralization and blockchain applications will go a long way in ensuring the distributed nature of democracy in the country. He also stated that he will advocate for the industry in the state legislature.

Prosecutors Believe Lack of Regulations May Make Cryptocurrencies a Means for Money Laundering: According to the Public Prosecutor’s Office (MP), the absence of rules of cryptocurrencies means that cryptocurrencies can be used for illegal money laundering activities.

Rodrigo De Gandis, a prosecutor said at an event organized by the Brazilian Federation of Banks – FEBRABAN:

“We do not know the proper way they are processed, how they are used. There is a legal limbo in terms of regulation, the bodies have not understood how the matter should be regulated. But for the Federal Public Prosecutor’s Office, crypto-coins are vehicles and tools for money laundering,”

The Brazilian judiciary has already sought information on cryptocurrencies and battle lines may be drawn between cryptocurrency exchanges and banks regarding regulations.


Argentina Posts Record Bitcoin Trading Figures Amidst Hyperinflation: Bitcoin trading volumes soared high in Argentina and other parts of South America as inflation rears its ugly head again.

Argentina especially is embracing Bitcoin more openly because the government’s attitude towards the cryptocurrencies is overall positive. Bitcoin ATMs are being opened across the country and many merchants are accepting payments in Bitcoin.


39% Chileans Have Heard of Cryptocurrencies: A recent study in Chile concludes that almost 39% of the country’s populace has heard of cryptocurrencies. The study was conducted by a group of Chilean researchers who are identifying the impact of cryptocurrencies on the populace.

Cryptocurrency adoption and knowledge is especially associated with the younger generation as 43% of the 18-34 demographic have heard of cryptocurrencies. High resource class (75%) is also leading on the front rather than lower resource groups (25%).

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