Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, Tether backs Mercado Bitcoin with $10 million, Brazilian police attack an illegal crypto betting ring, and the 24-hour hold period for stablecoin transactions is contested in Brazil.
Key Takeaways
Tether invested $20M in Mercado Bitcoin, accelerating tokenized asset growth and payment tech across Latam.Brazil’s police raided 87 shell companies in Operation Veil of Maya, cracking down on crypto money laundering.ABcripto opposed a proposed 24-hour stablecoin lock, warning it will disrupt fast, regulated transactions.Latam markets and the companies regulated to serve them are attracting the attention of global companies seeking to establish an institutional foothold in the region.
The company, which has over 4.5 million customers and operates in Brazil and Europe, was qualified by Tether as “one of the most comprehensive regulated on-chain financial platforms in Latin America,” and is part of a series of similar investments in payments and infrastructure companies that Tether is backing in the region.
Operation Veil of Maya: Brazilian Police Dismantle Massive Illegal Betting and Crypto Money Laundering RingThe operation was codenamed “Veil of Maya” as it represents a facade that impedes the appreciation of reality, meaning that these shell companies presented objectives that hid their true purposes.
Abcripto Blasts Central Bank of Brazil’s 24-Hour Stablecoin Lock as ‘Disproportionate’
