“Latin America has always been a priority market for Ripple — not just because of the scale of the opportunity, but because Brazil has built one of the most advanced and forward-thinking financial ecosystems in the world.”
Brazil Backpedals on Crypto Taxation as Presidential Election LoomsAccording to sources consulted by Reuters, the Brazilian government will delay these measures for a hypothetical upcoming fourth term for President Luiz Inácio Lula da Silva as the government shifts into full election mode and avoids issuing controversial legislation.
Argentina Bans Polymarket for Acting as an Unregulated Betting PlatformThe measure, ordered by local courts, is already in effect and results from a lawsuit initiated by the Buenos Aires City Lottery (LOTBA) and the Argentine Chamber of Casinos and Bingos (CASCBA), which complained that Polymarket operated as an unregulated betting platform in the country.
FAQ Why is Ripple expanding its operations in Brazil? Ripple is targeting Brazil’s advanced financial ecosystem by broadening its institutional offerings and pursuing a Virtual Asset Service Provider license. Why is Brazil delaying its planned stablecoin tax? The government postponed the controversial tax legislation to avoid political friction ahead of the upcoming presidential elections. Why did Argentine courts block access to Polymarket? Local authorities banned the prediction market from operating as an unregulated gambling platform without mandatory user identity checks.
