Latam Insights: Mexican Billionaire Ricardo Salinas Recommends Purchasing Bitcoin, Cardano Partners Argentine Province
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Mexican billionaire Ricardo Salinas advises purchasing Bitcoin, Cardano partners with an Argentine province, and Argentina launches a VASP registry.
Mexican Billionaire Ricardo Salinas Urges Followers to Buy Bitcoin as Nigerian Naira Falls Under a Satoshi
Ricardo Salinas Pliego, a Mexican entrepreneur with a fortune worth over $14 billion and owner of Salinas Group, has recommended its followers on X to purchase bitcoin and take advantage of its constant appreciation in value.
Commenting on a social media post describing how the value of the Nigerian naira fell under a satoshi, Salinas Pliego stated:
Buy Bitcoin and save it, pay attention!!!
The Nigerian official currency has been facing a rough period, becoming the worst-performing currency against the U.S. dollar in May. This has prompted a series of measures from the Nigerian government to try stabilizing the currency, cracking down on crypto operators to force them to withdraw it from their platforms, and accusing them of currency manipulation.
However, these measures have not stabilized the currency’s value, which remains in constant decline.
Salinas Pliego was further asked which exchange-traded funds (ETF), stocks, and cryptocurrencies he would recommend as an investment option. He answered “bitcoin,” showing his faith and trust in the investment aspect of the cryptocurrency.
Cardano Foundation Forges Government Partnership in Argentina to Boost Blockchain Adoption
The Cardano Foundation has announced an interesting new public partnership in Argentina. The collaboration, which follows a public signing between Rogelio Frigerio, the Governor of Entre Ríos, and Rafael Fraga, the LATAM Lead for Business Development at the Cardano Foundation, is with the state of Entre Ríos, a central province of Argentina. The partnership aims to further blockchain adoption, marking a significant step forward for the technology in the region. This move underscores the Cardano Foundation’s commitment to fostering blockchain communities and driving technological innovation.
Argentina Officially Launches Virtual Assets Service Providers Registry
The Argentine securities watchdog (CNV) announced the official launch of Argentina’s Virtual Assets Service Provider (VASP) Registry, allowing almost 100 companies and individuals to apply to be authorized to offer digital assets linked services in the country. The registry will remain open for more companies to submit their application, given that the regulator will only permit registered entities to operate legally in Argentine jurisdiction. 35 different companies have already been authorized by the CNV, with four foreign exchanges included in this first group.
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