Latam Insights: Unlicensed Crypto Exchanges Still Allowed to Operate in Brazil, Lightning Strikes Salvadoran Bitcoin ATMs

Welcome to Latam Insights, a compendium of Latin America’s astir applicable crypto and economical quality during the past week. In this issue: The Central Bank of Brazil confirms that unlicensed exchanges tin inactive run successful the country; El Salvador volition integrate Lightning Network transactions successful its Chivo ATM network; and Trubit raises $6.25 cardinal to grow crypto adoption successful Latam.

Central Bank of Brazil Clarifies Exchanges Still Don’t Need Licenses to Operate

The Central Bank of Brazil issued a connection clarifying the authorities of the cryptocurrency regularisation successful the state regarding the cognition of unlicensed exchanges. In its 40,874 communication, the slope revealed that the conditions and deadlines for virtual assets services providers (VASPs) to accommodate to Brazil’s cryptocurrency law would beryllium established successful a normative enactment later.

Furthermore, João André Calvino Marques Pereira, caput of the fiscal strategy regularisation section of the bank, revealed that crypto platforms tin inactive run without a licence during this period.

In the bank’s document, Calvino Marques stated:

Until the normative enactment connected the substance comes into force, virtual plus work providers volition beryllium capable to run independently of anterior authorization from the Central Bank of Brazil.

Salvadoran Bitcoin ATMs to Support Lightning Network

The ATMs of the Salvadoran Chivo web volition integrate Lightning Network (LN) support. Matias Goldenhorn, CEO of Athena Bitcoin, the institution that provides these ATMs to El Salvador, declared that they program to person 100 Bitcoin ATMs supporting LN transactions by year’s end.

Nonetheless, Goldenhorn recognized that including LN enactment for each Bitcoin ATMs successful El Salvador would instrumentality Athena astatine slightest 2 oregon 3 months more. Athena’s Bitcoin ATMs successful different countries volition beryllium updated successful 2024.

Only a tiny fig of each the Bitcoin ATMs successful the satellite person integrated LN transactions, truthful for Greenhorn, Athena’s determination is simply a “revolution,” fixed that present Salvadoran users volition beryllium capable to payment from the debased fees of the level and the added privateness of not having their transactions registered connected the Bitcoin blockchain.

Trubit Raises $6.25 Million to Expand Crypto Adoption successful Latam

Galactic Holdings, the genitor institution of Trubit, a cryptocurrency speech platform, raised $6.25 cardinal successful Series A backing round. Led by Galaxy Interactive and Dragonfly, the circular volition let the institution to grow its cognition successful Latam, focusing particularly connected outgo services for retail and organization customers.

Maggie Wu, cofounder and CEO of Trubit, thanked investors for their support, stating that the institution was committed to “further expanding our beingness successful much Latin American countries to marque cryptocurrency services accessible to everyone successful their regular necessities, much simply and conveniently.”

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