This week's LATAM Crypto Roundup highlights important developments in the region. Brazil's government has banned X (formerly Twitter) due to non-compliance with local regulations. Meanwhile, Chile has initiated a lawsuit against Worldcoin over biometric data collection concerns.
El Salvador's Bitcoin adoption, spearheaded by President Nayib Bukele, has seen mixed results. Despite positive impacts, mass adoption remains elusive. The government continues to purchase Bitcoin daily, holding approximately 5,859 BTC, worth about $346.35 million.
Brazil's ban on X could negatively impact its crypto community. The platform, a key source for real-time market updates, will become inaccessible, affecting investors who rely on it for information.
Chile's National Consumer Service has filed a lawsuit against Worldcoin's operator for alleged misconduct in biometric data collection, seeking substantial fines and halting of operations.
US Congress members are preparing a bill to reinforce sanctions on Venezuela, targeting cryptocurrencies such as Petro, amid ongoing political tensions.
The Stellar Development Foundation is investing $2 million in Colombia's Puntored to boost cross-border payments using blockchain technology, enhancing remittance services and financial inclusion.
