BeInCrypto complete Latam Crypto Roundup brings Latin The United States’s main news and traits. With journalists in Brazil, Mexico, Argentina, and more, we quilt the most fresh updates and insights from the problem’s crypto scene.
This week’s roundup covers the command Solana ETF delivery in Brazil, an investigation by Colombia’s Superintendence of Change and Commerce into Worldcoin’s operations, and more.
Brazil Takes Lead in Solana ETF Speed
While the chance of a Solana ETF (SOL) within the US stays unsure, Brazil is spicy forward confidently. QR Asset Administration launched that its Solana ETF can be on hand for public offering initiating Wednesday, August 21. The ETF is determined to be listed on Brazil’s B3 stock change on August 28.
Earlier this month, the Brazilian Securities Fee (CVM) accredited the ETF, named QSOL11. Managed by Vortx, the fund can be conscious the CCME CF Solana Greenback Reference Charge. The index, developed by CF Benchmarks and the Chicago Mercantile Change (CME), ensures legitimate Solana pricing.
This delivery marks one other milestone for QR Asset, which already provides crypto-connected products like QBTC11 and QETH11. The firm views the novel ETF as a regulated option for every institutional and retail investors in Brazil.
“As a market participant, it’s reassuring to include Brazilian regulators so attentive and commence to the evolution of the crypto ecosystem in a regulated ambiance. The novel ETF represents but one other regulated option for institutional and retail investors to diversify their portfolios and make a selection the correct composition of their investments within the field,” QR Asset Administration CIO Theodoro Fleury said.
QR Asset isn’t the correct agency engaged on a Solana ETF in Brazil. The CVM has moreover accredited one other Solana ETF, backed by Hashdex in partnership with BTG Pactual. Hashdex, which manages over $962 million in sources, has already launched plenty of ETFs on B3.
Topic Labs Expands zkSync Operations into Latam
Topic Labs, the developer on the support of the Ethereum Layer-2 (L2) scaling resolution zkSync, launched its growth into Latin The United States, initiating with a headquarter in Buenos Aires, Argentina. The novel command of job goals to toughen native tasks whereas driving zkSync’s enhance within the problem.
The protocol has viewed rising adoption in Argentina, highlighted by integrations with platforms like the Lemon change and QuarkID, a digital identification machine built on zkSync. These partnerships are enviornment to catalyze zkSync’s impact all over Latin The United States within the upcoming months.
Topic Labs’ CEO Alex Gluchowski and President Nana Murugesan knowing to slump to Buenos Aires in August to meet with key leaders, resolution-makers, policymakers, and crypto entrepreneurs. The unbiased is to explore collaboration opportunities and better realize the problem’s financial command.
“Argentina has turn into the springboard for our regional growth, and I’m excited for the subsequent allotment of Topic Labs’ lag to raise millions of developers and the subsequent billion customers to the blockchain,” Murugesan said.
Topic Labs highlighted that zkSync partners like Lambda Class and OpenZeppelin are positioning L2 solutions in Latin The United States. They described Argentina’s crypto ecosystem as “vibrant” and a key launchpad for Web3 tasks within the problem.
Salvadoran FinTech DitoBanx Enters Mexico
El Salvador-based entirely mostly FinTech firm DitoBanx is entering the Mexican market to present financial companies and products, alongside side worldwide transfers, digital credit cards, buck accounts, cryptocurrency access, and tokenization. After obtaining its operating license in El Salvador in April 2023, the firm has prolonged its attain to Guatemala, the US, Costa Rica, Panama, and now Mexico in 2024. The firm highlighted a 50% enhance in financial technology app utilization in Mexico over the last four years.
DitoBanx’s choices in Mexico will encompass DitoWallet and bank card companies and products for day after day transactions. The firm will moreover supply tokenization companies and products to convert physical or digital sources into tokens.
“With a agency belief that financial effectively-being is the foundation of a prosperous society, DitoBanx enters Mexico offering personalized service on hand 24/7, Three hundred and sixty five days a Three hundred and sixty five days,” acknowledged Guillermo Contreras, CEO and founding father of DitoBanx.
The firm has reportedly invested $3 million in its Mexican operations, where mobile banking customers include grown from 1.5 million in 2013 to 80 million by 2023.
Contreras highlighted the dedication to Mexico’s economic and technological enhance. He moreover famed that they knowing to integrate the digital Mexican peso and unbiased to operate under the ethical framework of a Sociedad Financiera Standard (Sofipo) by 2025.
Peru Announces Conflict on Cryptocurrency Crime
Peruvian authorities are ramping up efforts to wrestle cryptocurrency-connected crime. While technological advancements and rising ardour in cryptocurrencies include spurred their scream, they include moreover introduced concerns about doable criminal actions. Juan Carlos Villena Campana, Peru’s Public Prosecutor, has taken a agency stance on addressing these challenges.
Talking at a workshop organized in collaboration with the US Department of Justice, Villena highlighted the importance of conserving plod with technological changes. He famed that whereas cryptocurrencies supply benefits like decentralization, they moreover pose risks due to the the anonymity they include enough money, which would possibly perhaps perhaps perhaps be exploited for illegal actions.
“The fast evolution of technology and the rising adoption of cryptocurrencies include created novel avenues for criminal process, presenting new challenges to cybersecurity that threaten society,” Villena acknowledged in an interview with native media.
The Peruvian Public Prosecutor’s Put of job has committed to leading efforts against these crimes, working in collaboration with other Latin American nations and worldwide organizations like the Group of American States (OAS).
Rodrigo Silva from the OAS echoed Villena’s concerns, stressing the need for rules enforcement to end updated on technological advancements to kind out the more and more complex nature of cybercrime, even when it occurs on blockchain networks.
Colombia Investigates Worldcoin for Alleged Recordsdata Safety Violations
The Colombian Superintendence of Change and Commerce (SIC) has launched an investigation into Worldcoin and Tools for Humanity Corporation, the platform on the support of WLD, for allegedly violating non-public data protection rules. The investigation, initiated by resolution N. 46436, focuses on guaranteeing that Worldcoin’s data processing practices follow Colombia’s rules on interesting non-public data.
The SIC is particularly occupied with Worldcoin’s transparency in handling non-public data, the implementation of security insurance policies, and the existence of internal procedures for addressing complaints and queries from Colombian citizens. The regulator emphasised the importance of guaranteeing that the neighborhood stays cautious about sharing their non-public data.
“The SIC del Cambio is committed to conserving the fundamental rights of citizens and advises the neighborhood to scream warning with their non-public data. This resolution is within the job of being notified and can be signed as soon as it’s identified by the enthusiastic events. No enchantment would possibly perhaps perhaps perhaps be lodged against this resolution,” the SIC said.
As of now, neither Worldcoin nor Tools for Humanity Corporation has commented on the investigation. On the choice hand, if violations of data protection rules are confirmed, Worldcoin would possibly perhaps perhaps perhaps face hefty fines or even be banned from operating in Colombia.
The Superintendency clarified that doable sanctions under Article 23 of Law 1581 of 2012 would possibly perhaps perhaps perhaps encompass fines of up to 2,000 latest ethical month-to-month minimum wages, the suspension of actions for up to 6 months, the non permanent closure of operations after the suspension, or the instantaneous and definitive closure of operations interesting the processing of interesting data.
Because the Latam crypto scene grows, these tales highlight the problem’s rising impact within the worldwide market. Protect tuned for more updates and insights in subsequent week’s roundup.
