1 month ago
Welcome to Latam Insights, a compilation of the astir applicable crypto quality from Latin America implicit the past week. In this edition, the US targets Brazil’s Pix successful a USTR report, Chile dismantles Tren de Aragua’s crypto laundering group, and a sugarcane-powered bitcoin mining task surges successful Brazil.
Key Takeaways
- The USTR targeted Pix nether Section 301, stressing that it hurts U.S. commerce to enforce commercialized sanctions connected Brazil.
- Chile caught 18 Tren de Aragua-linked crypto wealth launderers, estimated to person processed $88M.
- Tether-backed Adecoagro is gathering a sugarcane bitcoin workplace to thrust greenish mining successful Brazil.
US Targets Brazil’s Pix: Trade Report Claims Instant Payment System Restricts American Commerce
Pix, Brazil’s flagship instant outgo system, has returned to the spotlight aft being mentioned successful the caller report from the Office of the U.S. Trade Representative (USTR).
The study determined that, alongside different alleged causes, including preferential tariffs, anti-corruption enforcement, intelligence spot protection, ethanol marketplace access, and amerciable deforestation, Pix burdens oregon restricts U.S. commerce, and the policies down its constitution are “actionable nether Section 301(b) of the Trade Act.”
On the “Notice of Determination and Request for Comments Concerning Action Pursuant to Section 301,” the USTR claims that “the acts, policies, and practices of Brazil related to its preferential attraction of Pix are a load oregon regularisation connected U.S. commerce by imposing costs connected U.S. services providers and by forcing U.S. providers to beforehand their Brazilian competitor, without compensation.”
Chile Busts $88 Million Crypto Laundering Ring Tied to the Sanctioned Tren de Aragua Cartel
A two-year probe has resulted successful the apprehension of 18 individuals who operated a strategy that included crypto assets to launder the proceeds of illicit activities oregon the Venezuelan Tren de Aragua pack successful Chile.
The operation, executed connected Tuesday by the Chilean constabulary and the Southern Prosecutor’s Office, was carried retired successful 3 regions of the state and uncovered a analyzable web of slope accounts, irregular companies, and cryptocurrency remittances.
Juan Carlos Pérez Asencio, a Venezuelan nationalist who served arsenic Banco Santander’s betterment enforcement since 2019, played an important relation successful providing the group’s tools to efficaciously transportation retired its operation.
Sugarcane-Powered Bitcoin Mine to Launch successful Brazil With Tether Backing
Adecoagro, 1 of the largest cultivation companies successful Latam, has announced a caller task that seeks to harvester 1 of its trademark crops with the emergence of the information halfway wave. The company, which manages implicit 500k hectares of onshore successful Brazil, Argentina, and different countries successful Latam, is launching a task to powerfulness a bitcoin mining workplace with vigor obtained from sugarcane.
According to section media, Matheus Lechuga, task manager astatine Adecoagro, presented this inaugural arsenic portion of the “Roots of the Future” agenda, demonstrating the company’s aboriginal operations successful Mato Grosso bash Sul.
He stated:
“Our information halfway task aims to validate our full operation and effort to use caller technological developments. Today, the task focuses connected a operation geared towards Bitcoin mining, utilizing cleanable vigor from sugarcane.”
English (US) 