Crypto
‘The system is rigged against consumers’: Many put faith in crypto but now regulators are circling
Max Moulder is doing no matter he can to make ends meet.
He is taken a shot at being an Uber driver.
He is drawing on his life-long commerce of reducing and promoting gems.
However odd jobs are usually not incomes him sufficient to maintain up with the rising value of residing.
“I’ve accomplished gemstone reducing and buying and selling for a protracted, very long time — since I used to be 10 years outdated — that is not paid off for me,” he stated.
“It’s totally tough doing Uber driving with the price of petrol. That is not working. And I am unable to do cupboard making anymore. So I am operating out of choices actually.”
In his thoughts, there’s only one possibility left: to put money into crypto.
“I really feel like I have been compelled into this,” he instructed ABC Information.
Mr Moulder solely began investing three weeks in the past when the market tanked. He is put in $1,000 thus far and is keen to take a position much more.
His view is that he is shopping for low cost and so “it could actually solely go upwards from right here”.
It’s religion, relatively than funding fundamentals, that has left Mr Moulder, and hundreds of thousands of different traders around the globe, both already struggling or being weak to large losses.
One in 9 Australians purchased crypto up to now yr
Shopper advocacy group Alternative has discovered that one in 9 Australians have purchased cryptocurrencies up to now yr and that quantity is predicted to maintain rising.
Half of them see crypto as a long-term funding, relatively than quick time period hypothesis and two in 5 see it as a diversification of their portfolio.
“Individuals have actually been harmed, and the system is de facto rigged in opposition to customers,” stated Patrick Veyret, senior coverage adviser for client group CHOICE.
“And that is why we’re calling for stronger client protections and robust obligations on cryptocurrency exchanges.”
Since November (when Bitcoin hit a document excessive of $US69,000), about $US1.5 trillion has been wiped off the worth of your complete cryptocurrency market. That is greater than half its worth erased in simply six months.
Very similar to housing, cryptocurrencies have been boosted by document low rates of interest and by governments globally pumping trillions of {dollars}’ value of stimulus to struggle off COVID.
However not like the housing market, which is basically regulated and incentivised via tax perks and authorities grants, crypto operates with out regulation and, some argue, little accountability.
It is a actuality that is not misplaced on world policymakers, who’ve signalled new laws are imminent.
Bitcoin, which got here to life in 2008 because the monetary system was imploding, was began by a rising class of tech-savvy dissatisfied residents searching for a substitute for the mainstream monetary system.
Now that utopian imaginative and prescient is underneath hearth, and the query everyone seems to be asking is, will a brand new period of regulation kill or strengthen cryptocurrencies?
Are stablecoins really secure?
In Might, the collapse of standard cryptocurrency Luna and the so-called “stablecoin” TerraUSD confirmed such investments can wreak havoc on the lives of many.
Collectively, they have been valued at about $60 billion simply weeks in the past. However now they’re nearly nugatory.
Traders dropping their life financial savings, individuals susceptible to homelessness, and even tales of suicide surfaced on social media, inflicting individuals worldwide to query its legitimacy.
Stablecoins are cryptocurrencies which might be often pegged to a fiat forex, such because the greenback.
Most issuers declare by backing the cash with conventional belongings which might be protected and liquid, it protects in opposition to danger.
There are three major methods stablecoins stay pegged to a fiat forex.
First, it may be pegged to the greenback.
Second, it may be backed by reserves of cryptocurrencies.
Lastly, as within the case of Terra, it may be backed by an algorithm.
This algorithm provides tokens to the provision if the worth is getting too excessive, to deliver the worth again down, or removes tokens from provide if the worth falls under the peg.
However on Might 9, Terra crashed. It’s now value simply 3 US cents.
Its sister coin Luna, which was value $US119 at its peak, is now value nil.
Terra was being deposited by many traders by way of a platform known as Anchor, which labored like a financial institution financial savings account. It allowed customers to earn yields on Terra deposits and take out loans in opposition to holdings.
The crew behind Terra have been telling traders in the event that they deposited Terra by way of Anchor they may get returns of round 20 per cent.
Sound too good to be true? That is as a result of it was, stated Henri Arslanian, a former PwC crypto chief and accomplice who’s now an creator and Adjunct Professor on the College of Hong Kong.
“What’s necessary to know is that there are completely different sorts of stablecoins,” he stated.
“Nothing malfunctioned with Luna or Terra. However the design did not present an answer on this black swan state of affairs that eventuated.
“It is like saying, you’ve got constructed a constructing, however it’s not constructed to face up to an earthquake. Meaning, if there was an earthquake, the constructing would collapse.”
“That is what occurred with Terra. The constructing (infrastructure) behind it didn’t have the proper safeguards.”
Some have theorised that an ‘evil genius’ might have brought on Terra and Luna to crash.
On the time of the crash, many on social media speculated that the massive US hedge funds and buying and selling corporations, BlackRock and Citadel Securities, have been behind it.
The accusation was that they collectively borrowed 100,000 bitcoin from cryptocurrency trade Gemini to buy Terra, solely to dump the belongings, inflicting the market to break down and wiping out greater than $US25 billion within the underlying LUNA market worth. Each corporations have rejected that, saying they do not commerce Terra.
Mr Arslanian stated regulators and coverage makers will now attempt to introduce new regulation over algorithmic stablecoins however that will probably be tough.
The traders who misplaced cash by believing Do Kwon
Do Kwon, who based Terra creators Terraform Labs, didn’t reply to ABC Information’ request for remark.
He had tweeted on the time of Terra’s collapse, in early Might: “I perceive the final 72 hours have been extraordinarily powerful on all of you — know that I’m resolved to work with each considered one of you to climate this disaster, and we’ll construct our manner out of this”.
However on Saturday, he tried to resuscitate the Terra ecosystem by launching a brand new blockchain (Terra 2.0) and a brand new cryptocurrency (Luna 2.0).
The brand new model of Luna seems to be struggling an analogous destiny. Its worth plunged by greater than 70 per cent inside hours of buying and selling.
Mr Kwon has additionally been caught up in different controversies, together with being directed by South Korea’s Nationwide Tax Service to pay 100 billion gained (roughly $US78 million) in taxes and is going through lawsuits from burnt traders.
Conor Bronsdon’s is a type of, though he’s not considering of litigation.
His $US400,000 funding was worn out when Terra/Luna crashed.
“It was the vast majority of my financial savings,” stated the 30-year-old investor, based mostly in Seattle.
Crypto has been significantly standard with millennials throughout the globe — a couple of quarter of Australian traders aged 18 to 34 have at the very least 10 per cent of their portfolios invested in cryptocurrency, in accordance with eToro information.
Regardless of the private loss, Mr Bronsdon remains to be an advocate of decentralised transactions.
He stated, with the good thing about hindsight, he wouldn’t have put a lot cash into Terra and Luna.
Is crypto a great funding?
Henrik Andersson is the chief funding officer and co-founder of Apollo Capital.
He stated his agency did have publicity to Terra and Luna and misplaced out due to it however stated that will not cease them investing in crypto.
“It was not a catastrophic loss for us,” he instructed ABC Information.
The agency has been focusing its investments solely in crypto area for previous 4.5 years, and he has been personally investing for nearly a decade.
“It is laborious to search out one other asset class that is generated larger returns over the previous few years and that is set to proceed.”
Nonetheless, different huge traders disagree cryptocurrencies give larger returns – relative to the danger — and are steering away from crypto.
PGIM, a world $US1.5 trillion asset supervisor, lately launched a report calling cryptocurrency “portfolio Kryptonite”.
About 11 million superannuation members trying to construct up their tremendous retirement nest eggs have some publicity to the agency’s institutional funding.
Its chief funding officer Taimur Hyat argued that crypto will not be a fairly forex and that there’s little proof that cryptocurrencies ship diversification in contrast with mainstream monetary belongings.
He famous that with cryptocurrency like bitcoin “you get the identical risk-adjusted returns as different asset lessons, however you’ve got way more volatility”.
Mr Hyat stated it doesn’t act as efficient hedge in opposition to fluctuation from elements like COVID.
Mr Hyat stated there may be now the danger that elevated regulation might see peoples’ investments additional tank as “there’s uncertainty about what the laws can be”.
Australians dropping out as a result of crypto will not be regulated
Apart from the funding fundamentals, there’s additionally questions concerning the lack of client protections when investments fail.
Mr Veyret, from Alternative, needs to see the identical guidelines that apply to inventory markets, apply to digital belongings.
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The proof now exhibits that stablecoins similar to TerraUSD won’t really be that protected, he stated.
“It is actually regarding that these exchanges are promoting… phrases like protected and likewise actually excessive yield.
“Companies and exchanges have an obligation to make sure that they don’t seem to be partaking in deceptive and misleading conduct.”
Shopper Motion Regulation Centre (CALC) chief government Gerard Brody is looking for brand spanking new legal guidelines to be launched, requiring crypto platforms to be obliged to detect, forestall and reimburse individuals from scams.
“We recurrently hear from callers to our recommendation strains who’ve misplaced astounding sums of cash — usually their whole life financial savings — to scams occurring on crypto platforms,” he stated.
“The truth is that these platforms are a conduit for organised criminals and cash launderers.”
CALC can also be advocating for restrictions on promoting and advertising of crypto to most people, in its submission to Treasury’s evaluate of the sector.
Regulation is imminent however how will it look?
US Treasury Secretary Janet Yellen has acknowledged that stablecoins are something however secure, whereas flagging regulation of the broader digital belongings market.
“Stablecoins increase coverage issues, together with these associated to illicit finance, consumer safety, and systemic danger,” Dr Yellen stated.
“And, they’re at present topic to inconsistent and fragmented oversight,” she stated, including that the broader ecosystem ought to ruled with a purpose to enable “accountable innovation”.
From an area perspective, Australia’s new Labor might impose more durable regulation. Within the lead as much as the election Labor’s Stephen Jones had stated that will take into account crypto regulation as a part of a broader overhaul of the digital funds system.
If that occurs, company watchdog ASIC could be liable for overseeing adjustments.
A spokesman for ASIC stated the regulator does not at present regulate crypto belongings until they’re legally thought of as monetary merchandise, “and it’s not all the time clear whether or not a selected crypto-asset product is inside our jurisdiction”.
He stated within the meantime, ASIC supervises merchandise traded on the inventory trade, such because the latest ETFs with crypto as an underlying asset.
ASIC additionally investigates conduct breaches similar to deceptive or misleading behaviour, the place they contain crypto-assets which might be monetary merchandise.
Joni Pirovich, a lawyer specialising in blockchain and digital belongings, stated crypto tokens are getting used to experiment find out how to do monetary transactions higher, cheaper and sooner.
“There are greater than 10,000 of those tokens that folks should purchase and commerce, which is much past the present assets of any regulator to oversee meaningfully,” she stated.
“However there is a want from policymakers around the globe to ensure crypto tokens are introduced right into a supervised internet.”
That coverage dialog has been taking place for the previous six years, however the collapse of Terra (which trades underneath the code “UST”) and Luna has individuals refocused on it.
“The typical individual had invested about $50,000 in UST and that funding has shrunk to nil,” she stated.
“There’s new requires client protections, however uncertainty about the perfect method: whether or not mums and dads ought to preserve option to entry these dangerous tokens or whether or not to make the issuers liable for stopping funding from mums and dads.”
However the issuer is commonly not linked to 1 nation. There may be usually a world crew of individuals concerned in developing with the token, its options and what it could actually do.
She stated the opposite possibility is to have new regulation, enforced by a regulator like ASIC, that requires an issuer to have controls that cap mum and pa investor crypto deposits to not more than, say, $5,000.
And a closing possibility, which she doesn’t advocate, is to ban these merchandise for retail traders.
In the meantime, US lawyer Moe Vela believes crypto must be regulated however urged the present US administration to not fall into the entice of a regulatory atmosphere that can stifle development underneath the guise of defending customers.
Mr Vela was director of administration for US President Barack Obama, the place he labored intently with Joe Biden.
He additionally labored with former Vice-President Al Gore within the Clinton White Home, and is a director at Unicorn Hunters, the corporate constructing a cryptocurrency known as Unicoin.
“Regulation might be wholesome if written within the spirit of fostering innovation and creating an inviting atmosphere to new and present traders,” he stated.
Can crypto pose a wider danger to monetary system stability?
Tony Richards was head of funds on the Reserve Financial institution for 10 years.
He stated too many individuals are speculating on digital currencies, unaware of the danger that its worth “can fall sharply and even to zero”.
He warned that anybody shopping for cryptocurrency must be conscious that even bellwether cryptocurrencies like bitcoin are usually not but thought of by company watchdog ASIC to be a monetary product, that means it isn’t regulated underneath the Companies Act.
“Bitcoin solely will get its worth from the hope that another person tomorrow will provide you with worth for it,” Dr Richards stated.
“It is a factor that folks can commerce they will purchase and promote between one another, however it’s, it isn’t a monetary product.”
However he additionally famous that cryptocurrencies, like every other items or companies within the financial system, may very well be topic to Australian Shopper Regulation protections.
He stated the consensus from central banks and others within the worldwide organisations just like the Worldwide Financial Fund (IMF) or the Financial institution of Worldwide Settlements (BIS) are that the hyperlinks between the cryptocurrency universe and the standard monetary sector are weak.
He stated there could also be a world the place digital currencies, distributed ledger know-how and sensible contracts are a significant a part of monetary system, however that “cryptocurrencies may be very a lot a sideshow”.
Ought to entrepreneurs have the ability to promote investments as ‘protected’
In early April, a number of weeks earlier than Terra (UST) collapsed, the cryptocurrency trade Binance launched a web-based commercial claiming that stablecoin was a “protected” funding.
Binance additionally promoted it as a “protected and completely satisfied” alternative to earn a really excessive return — as much as 19.63 per cent.
When requested concerning the advert, Binance Australia’s CEO, Leigh Travers, stated: “It is not the language that I feel would use once more if that commercial have been to be thought of by the advertising crew”.
Like many others within the business, Mr Travers welcomes elevated scrutiny within the crypto business.
By enhancing the requirements and higher defending customers, crypto exchanges can get entry to issues like banking and monetary companies, together with insurance coverage, he stated.
He defined that Binance at present has a pool of greater than $1 billion in capital to guard customers within the occasion of trade malfunction. Nonetheless, it’s made up of bitcoin and different cryptocurrencies, versus precise money.
Whereas he famous the business might have gotten a foul repute following final month’s crash, he didn’t imagine there was widespread market manipulation.
However he stated the sector additionally had the potential to drive development.
“There may be true worth right here. There may very well be a significant business with… tens of hundreds or doubtlessly lots of of hundreds of jobs — excessive paying jobs in an thrilling business.
“So let’s work collectively and make it possible for Australia has a possibility to compete on a world scale right here.”
Mr Bronsdon stated there’s a want to guard people who make investments in crypto, however that “we wish to watch out about how these laws are put into place”.
“We do not wish to stifle the innovation that is taking place, the area and among the unimaginable issues which might be being constructed, however on the identical time regular individuals must be protected,” he stated.
“It has affected lots of of hundreds, if not hundreds of thousands, of individuals worldwide. There are alternatives for protections.”
Posted , up to date
Cryptocurrency adoption in Latin America is
experiencing explosive growth, driven by a mix of factors in the area like
economic instability, financial innovation, and regulatory evolution. Countries
like Brazil, Argentina, and Mexico are emerging as global leaders in
cryptocurrency usage, offering a fertile ground for both individuals and
businesses to explore digital assets as practical solutions for real-world
financial challenges.
To learn more about Latin America’s rapidly
evolving crypto market, download our whitepaper, “Unlock the Potential of Latin
America’s Booming Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
The rising wave of crypto in Latin
America
Cryptocurrency adoption in Latin America is
accelerating, fueled by inflation and currency devaluation. In Argentina, where
inflation has devastated the peso, Bitcoin and stablecoins have played an
important role in protecting savings. Around 15% of the population uses crypto
regularly, finding it a critical hedge against inflation.
In Brazil, crypto is even being integrated
into mainstream finance. The country was one of the first to approve
cryptocurrency exchange-traded funds (ETFs), and by 2023, the value of USDT
transactions was equivalent to $55 billion, more than 80% of its crypto volume.
This makes Brazil a key player in the global crypto market.
Mexico has carved out a niche in crypto
remittances, with Bitso processing over $3.3 billion in cross-border payments
in 2022. Crypto is emerging as a more efficient solution for these
transactions, benefiting millions of families reliant on remittances.
Regulatory evolution driving market growth
The regulatory environment across Latin
America is evolving, creating opportunities for businesses to expand. For example,
El Salvador made history by becoming the first country to adopt Bitcoin as
legal tender, with further initiatives like Bitcoin-backed bonds and a
government-sponsored crypto wallet. This bold experiment has positioned El
Salvador as a global trailblazer for cryptocurrency adoption, even as its
long-term effects are being evaluated.
Meanwhile, Mexico’s fintech law from 2018
recognized cryptocurrencies as virtual assets, establishing a clear regulatory
pathway for businesses. This clarity has helped companies like Bitso thrive. Meanwhile,
Colombia’s regulatory sandbox has promoted crypto experimentation in a
controlled environment, attracting fintechs and positioning the country as a
future hub for innovation.
Argentina, while still working on a
comprehensive regulatory framework, has seen increased interest in crypto
regulation under its new pro-crypto government. Colombia’s sandbox model is
providing fintechs with a controlled environment to test their offerings,
positioning the country as an emerging leader in the digital asset space as
well.
Emerging opportunities
Despite infrastructure and regulatory
challenges, Latin America offers immense opportunities for crypto growth.
Argentina and Venezuela, with their hyperinflationary economies, continue to
see widespread crypto adoption as citizens seek alternatives to their unstable
currencies. Stablecoins like USDT and USDC can help individuals and businesses
in these countries by providing greater financial stability.
Mexico’s growing role in crypto remittances
and Colombia’s fintech-friendly environment highlight the region’s potential
for further expansion. Tokenization is another area of growth, with Brazil’s
agricultural commodity token project, Agrotoken, revolutionizing access to
credit for small farmers. Brazil’s Drex initiative also highlights the
country’s commitment to developing a fully digital economy and integrating
blockchain technology into mainstream financial systems.
Latin America’s complex economic landscape,
combined with its openness to crypto solutions, makes it an exciting market for
businesses seeking to leverage digital assets. By addressing regulatory and
payment infrastructure challenges, companies can unlock the full potential of
this rapidly evolving crypto market.
The role of payment solutions in this evolving
market
Cross-border payments and regulatory
complexities are significant hurdles for businesses expanding into the Latin
American crypto market. The region’s rising demand for remittances, along with
fragmented payment infrastructures, means businesses must navigate
multi-currency transactions. Additionally, evolving regulatory landscapes
require businesses to stay compliant while managing operational risks.
Paysafe addresses these challenges by
offering solutions that streamline cross-border payments, supporting multiple
currencies and reducing transaction costs. With strong integration into key
local systems, Paysafe helps businesses deliver the seamless payment options
customers expect.
Furthermore, Paysafe’s regulatory expertise
ensures businesses remain compliant across diverse markets, while its advanced
security features protect against fraud, providing businesses with the trust
and reliability they need to thrive in the region’s fast-growing crypto
ecosystem.
Conclusion
Latin America is a prime market for
cryptocurrency adoption and its growth shows no sign of slowing down. From the
pioneering efforts of El Salvador to the sophisticated regulatory framework in
Brazil, the region offers diverse use cases for businesses looking to enter or
expand their crypto operations. Our whitepaper highlights that despite
challenges like regulatory fragmentation and cultural nuances, Latin America
presents tremendous opportunities for growth.
For more detailed insights and strategies,
download our whitepaper, “Unlock the Potential of Latin America’s Booming
Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
By leveraging Paysafe’s comprehensive
payment solutions, businesses can seamlessly navigate the complexities of the Latin
American crypto landscape, unlocking the full potential of one of the world’s
fastest-growing markets.
Disclaimer:
This article is not intended to be
financial, investment or trading advice. This article is for information and
solely for education purposes. It does not protect against any financial loss,
risk or fraud.
Why Paysafe
Paysafe supports Latin American businesses
with over 25 years of experience, offering top-tier fraud, risk, and compliance
support. Their solutions streamline cross-border payments, support multiple
currencies, and reduce transaction costs, enabling confident expansion in the
crypto market.
Cryptocurrency adoption in Latin America is
experiencing explosive growth, driven by a mix of factors in the area like
economic instability, financial innovation, and regulatory evolution. Countries
like Brazil, Argentina, and Mexico are emerging as global leaders in
cryptocurrency usage, offering a fertile ground for both individuals and
businesses to explore digital assets as practical solutions for real-world
financial challenges.
To learn more about Latin America’s rapidly
evolving crypto market, download our whitepaper, “Unlock the Potential of Latin
America’s Booming Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
The rising wave of crypto in Latin
America
Cryptocurrency adoption in Latin America is
accelerating, fueled by inflation and currency devaluation. In Argentina, where
inflation has devastated the peso, Bitcoin and stablecoins have played an
important role in protecting savings. Around 15% of the population uses crypto
regularly, finding it a critical hedge against inflation.
In Brazil, crypto is even being integrated
into mainstream finance. The country was one of the first to approve
cryptocurrency exchange-traded funds (ETFs), and by 2023, the value of USDT
transactions was equivalent to $55 billion, more than 80% of its crypto volume.
This makes Brazil a key player in the global crypto market.
Mexico has carved out a niche in crypto
remittances, with Bitso processing over $3.3 billion in cross-border payments
in 2022. Crypto is emerging as a more efficient solution for these
transactions, benefiting millions of families reliant on remittances.
Regulatory evolution driving market growth
The regulatory environment across Latin
America is evolving, creating opportunities for businesses to expand. For example,
El Salvador made history by becoming the first country to adopt Bitcoin as
legal tender, with further initiatives like Bitcoin-backed bonds and a
government-sponsored crypto wallet. This bold experiment has positioned El
Salvador as a global trailblazer for cryptocurrency adoption, even as its
long-term effects are being evaluated.
Meanwhile, Mexico’s fintech law from 2018
recognized cryptocurrencies as virtual assets, establishing a clear regulatory
pathway for businesses. This clarity has helped companies like Bitso thrive. Meanwhile,
Colombia’s regulatory sandbox has promoted crypto experimentation in a
controlled environment, attracting fintechs and positioning the country as a
future hub for innovation.
Argentina, while still working on a
comprehensive regulatory framework, has seen increased interest in crypto
regulation under its new pro-crypto government. Colombia’s sandbox model is
providing fintechs with a controlled environment to test their offerings,
positioning the country as an emerging leader in the digital asset space as
well.
Emerging opportunities
Despite infrastructure and regulatory
challenges, Latin America offers immense opportunities for crypto growth.
Argentina and Venezuela, with their hyperinflationary economies, continue to
see widespread crypto adoption as citizens seek alternatives to their unstable
currencies. Stablecoins like USDT and USDC can help individuals and businesses
in these countries by providing greater financial stability.
Mexico’s growing role in crypto remittances
and Colombia’s fintech-friendly environment highlight the region’s potential
for further expansion. Tokenization is another area of growth, with Brazil’s
agricultural commodity token project, Agrotoken, revolutionizing access to
credit for small farmers. Brazil’s Drex initiative also highlights the
country’s commitment to developing a fully digital economy and integrating
blockchain technology into mainstream financial systems.
Latin America’s complex economic landscape,
combined with its openness to crypto solutions, makes it an exciting market for
businesses seeking to leverage digital assets. By addressing regulatory and
payment infrastructure challenges, companies can unlock the full potential of
this rapidly evolving crypto market.
The role of payment solutions in this evolving
market
Cross-border payments and regulatory
complexities are significant hurdles for businesses expanding into the Latin
American crypto market. The region’s rising demand for remittances, along with
fragmented payment infrastructures, means businesses must navigate
multi-currency transactions. Additionally, evolving regulatory landscapes
require businesses to stay compliant while managing operational risks.
Paysafe addresses these challenges by
offering solutions that streamline cross-border payments, supporting multiple
currencies and reducing transaction costs. With strong integration into key
local systems, Paysafe helps businesses deliver the seamless payment options
customers expect.
Furthermore, Paysafe’s regulatory expertise
ensures businesses remain compliant across diverse markets, while its advanced
security features protect against fraud, providing businesses with the trust
and reliability they need to thrive in the region’s fast-growing crypto
ecosystem.
Conclusion
Latin America is a prime market for
cryptocurrency adoption and its growth shows no sign of slowing down. From the
pioneering efforts of El Salvador to the sophisticated regulatory framework in
Brazil, the region offers diverse use cases for businesses looking to enter or
expand their crypto operations. Our whitepaper highlights that despite
challenges like regulatory fragmentation and cultural nuances, Latin America
presents tremendous opportunities for growth.
For more detailed insights and strategies,
download our whitepaper, “Unlock the Potential of Latin America’s Booming
Crypto Market.”
Read the report on the Latam’s blooming cryptocurrency market.
By leveraging Paysafe’s comprehensive
payment solutions, businesses can seamlessly navigate the complexities of the Latin
American crypto landscape, unlocking the full potential of one of the world’s
fastest-growing markets.
Disclaimer:
This article is not intended to be
financial, investment or trading advice. This article is for information and
solely for education purposes. It does not protect against any financial loss,
risk or fraud.
Why Paysafe
Paysafe supports Latin American businesses
with over 25 years of experience, offering top-tier fraud, risk, and compliance
support. Their solutions streamline cross-border payments, support multiple
currencies, and reduce transaction costs, enabling confident expansion in the
crypto market.
Crypto
BlackRock releases educational Bitcoin video, indicates cryptocurrency acceptance By Investing.com
Investing.com — BlackRock (NYSE:), recognized as the world’s biggest asset manager, controlling $11.5 trillion in assets, has made a significant move toward embracing cryptocurrencies. The company recently launched a three-minute educational video focused on , the leading digital currency. This move comes on the heels of BlackRock’s recent advice to investors that they could consider allocating up to 2% of their portfolio to Bitcoin.
This suggests an increasing acceptance of cryptocurrencies within conventional financial portfolios. Bitcoin, in particular, has seen a substantial increase in its value this year, with a rise of over 150%.
In addition, BlackRock is the owner of the iShares Bitcoin Trust ETF, further indicating its growing interest in and acceptance of the digital currency market.
Link to video
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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