South America: Crypto and Blockchain News Roundup 17th to 23rd June, 2019

South America: Crypto and Blockchain News Roundup 17th to 23rd June, 2019



South America: Crypto and Blockchain News Roundup 17th to 23rd June, 2019

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.

South America

Brazil

Fintech Regulatory Sandbox approach by Brazilian regulator: Brazil’s top securities regulator Securities and Exchange Commission (CVM) in a recent post on its official site has published a joint statement from CVM itself, the Special Secretariat of Finance of the Ministry of Economy, the Central Bank of Brazil and the Superintendency of Private Insurance regarding the newly established regulatory sandbox for financial, security and capital markets. 

While it is yet not clear that the government will include cryptocurrency and other token projects in the regulatory sandbox, several moral-boosting signs are already there from government officials that it will be eventually included. Brazil is one of the most progressive countries in South America when it comes to cryptocurrencies and the new approach will help cement this status.

Campus Party offering free blockchain courses for children: The latest edition of “campus party” being organized in the capital of Brasilia will have free blockchain courses for kids in a first in South America. The event is in its 12th year running and will see participants from all around the country and is being staged at the Mané Garrincha National Stadium in the capital.

The blockchain courses will be available for kids as part of the event called Kids Hackers that help children engage in programming, games, applications and other IT related content. Childrens from all age groups can come and help develop a basic understanding of blockchain through this course.

Brazil surpasses USA, China and Japan to become the second largest user of crypto: A recent survey ranks Brazil higher than USA, China and Japan when it comes to active cryptocurrency users in each country and second only to Turkey in the world.

The reason for the higher number of cryptocurrency users in these countries is often tied to the high depreciation rate of the local fiat currency. The Turkish Lira fell over 18% in May while the Brazilian currency has been in free fall against the US Dollar for some time. For many cryptocurrency users in these countries, cryptocurrencies offer a viable alternative to holding foreign currency reserves as there is considerable market manipulation and regulation by the local governments.

Developer unveils blockchain registry: Cyrela Brazil Realty, one of the biggest real estate developers in the country has announced that it has developed and deployed a blockchain-based land registry in the country according to a Valor Economico Report. The first transaction was already recorded by the company to showcase for its efforts.

According to the legal director of Cyrela Rafaella Carvalho:

“When there is regulation so that the registry offices can actually act through the technology, it will be possible to accelerate the transfer of the receivables of the clients to the banks and, consequently, the generation of cash. For customers, receiving keys will occur more quickly. This tends to occur in the medium term”

Federal deputy files proposal for joint discussion of bitcoin and cryptocurrencies: Eduardo Cury (PSDB-SP), a federal deputy has filed a new application in the Chamber of Deputies for joint discussion on two bills for the regulation of cryptocurrencies in the country.

The two bills titled 2060/2019 and 2303/2015 may be up for joint discussion if their motion is approved.

Venezuela

Funds allocated for getting youth into cryptocurrencies: The Venezuelan government has approved a grant to help the youth get into the Digital Youth Bank which is working with the National Superintendence of Cryptocurrencies.

According to president Nicolas Maduro:

[The money was] “for the diverse use of cryptocurrencies in daily, economic and commercial life and the financing of projects of our youth.”

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