Bitcoin in Spanish is the weekly newsletter of CriptoNoticias in which we review the most important facts related to bitcoin, cryptocurrencies and blockchains in the Hispanic world.
This week, the information from Argentina gained more prominence due, among other things, to the plan of the Buenos Aires government to allow the payment of taxes with cryptocurrencies. Added to this is the arrest of the leader of Adhermar Capital, another project accused of operating as a ponzi scheme.
Meanwhile, elsewhere in the region, highlight the advances of Panama in the regulation of bitcoin through the preliminary approval of a bill. The data published by the Bank of Spain on the increase in investment volumes in cryptocurrencies in the Iberian country also stand out.
To go to the detail of the news of each Spanish-speaking country, during the past week, we leave you the most recent Bitcoin in Spanish.
Argentina
Paying taxes with bitcoin and cryptocurrencies could be a reality in Buenos Aires, Argentina. The head of the Buenos Aires Government, Horacio Rodríguez Larreta, made the announcement on April 26 during the presentation of the “Buenos Aires” plan.
To advance in this process, the government of the Argentine capital is working, among other companies, with cryptocurrency brokers Bitso, SatoshiTango and Belowhich would make it easier for their users to pay tax rates through their platforms.
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Meanwhile, in northwestern Argentina, some 20,000 people were affected by losing the money invested in the Adhemar Capital project. Is about a scheme accused of operating as an alleged ponzi schemewhose CEO, Adhermar Bacchiani, was arrested a few days ago.
Bacchiani must present himself for an investigation on April 28 and faces charges of illicit association, money laundering, fraud and unauthorized financial intermediation. Meanwhile, those affected are waiting to find out whether or not they will be able to recover their investments. It is estimated that Adhemar Capital managed USD 400 million from the affected people.
In this context, CriptoNoticias published an analysis of the cost of living in the South American country, determining that few Argentines earn a salary higher than the minimum, so young people are attracted to currencies like bitcoin as savings or investment.
On the other hand, it is expected that next August start operating an educational plan on bitcoin in 40 Argentine schools.
The Built With Bitcoin Foundation and the NGO Bitcoin Argentina, together with the Paxful exchange, will launch a program for young high school students from this country to receive instruction on the basic principles contemplated by the first and most popular of cryptocurrencies.
For his part, Martin Tetaz, an Argentine opposition deputy, took the initiative to give away USD 1,000 in DAI, a stablecoin, to whoever denounced the “most useless procedure” in that South American nation.
Spain
With a total of 10.7 billion in profits from the sale of bitcoin and other cryptocurrencies, Spain and 5 Latin American countries ranked among those whose citizens received greater benefits for their investments in cryptocurrencies for 2021. In this way, Latin America covers 6.62% of the registered global profits, which were calculated to be over USD 162,700 million.
According to the Chainalysis report, Spain ranks 11th, with earnings of USD 3,339 million, which represents 2.1% of the total. Brazil follows, in fifteenth place with earnings of USD 2,562 million, as well as Argentina in 20th place (1.1%) with earnings of USD 1,866 million.
Likewise, in a report published by the Bank of Spain, the body revealed that the country ranks fifth in Europe with the highest volume of transactions of crypto assets, with close to 60 billion euros during 2021. In this way, it is behind the United Kingdom, France, Germany and the Netherlands, and ahead of Switzerland and Italy.
Regarding non-fungible tokens (NFT), the Ministry of Finance responded to a query made by a Spanish creator to find out if he should pay taxes.
According to the regulator, NFTs they would not participate in the nature of cryptocurrencies and other digital currencies so they cannot be treated as fungible goods. Therefore, “if the NFT was sold by a company or a person as part of their professional activity, the person who must pay VAT is the buyer of the token.”
Mexico
Senator Indira Kempis, a representative to the Mexican Congress, reported on her Twitter account about the installation of a bitcoin ATM. the team now is installed in the seat of the Senate, in the Mexican capital.
Kempis, one of the main promoters of the pioneer cryptocurrency in the Aztec country, said that the machine was installed for educational purposesseeking inclusion and financial training for the future.
Mexico was also the scene of a forum on Bitcoin held on April 23.
In the discussion, organized by the Mexican Senate, the accountant Vanessa Solís Caballero stated that the Mexican regulators fear that a regulatory framework threatens or harms somehow the financial system of that country. “There is ignorance, fear, uncertainty, and that is why distance is created,” he criticized.
In regulatory matters, all the speakers at the event agreed that in Mexico it is necessary to combine efforts to advance, as other countries such as Colombia, Panama or Argentina are doing, where there are already bills under discussion. Industry representatives and community members believe that it’s time to put the regulation up and running once and for all.
Panama
The National Assembly of Panama approved, in the first discussion, a bill that seeks to regulate the use of cryptoactives in that territory. Gabriel Silva, Panamanian congressman and one of the promoters of the proposal, explained that with this legislation they seek to give legal stability to crypto assets.
The project proposes the admission of bitcoin and other cryptocurrencies as a means of payment throughout the Panamanian territory. Specifically mentioned, in addition to BTC, ether (ETH), in addition to XRP, litecoin (LTC), XDC Network (XDC), elrond (EGLD), stellar (XLM), IOTA and algorand (ALGO).
The proposal will be subjected to new processes of debate and approval until final approval.
Uruguay
The state electric centralization in Uruguay is attentive against the profitability of Bitcoin mining. This is because the production of energy is bought, in large part, by UTE, which is the governmental National Administration of Power Plants and Electric Transmissions of Uruguay.
As CriptoNoticias publishes, government control over renewable energy sources in that country obscures the outlook for those who want to engage in the activity, since must undergo high fees that greatly retard the growth and development of a mining company.
events of the week
Among the events related to bitcoin, cryptocurrencies and blockchains in the region for this week, the following stand out in the CriptoNoticias calendar:
- Wednesday, April 27: Webinar «Can you live on crypto? Experience of a freelancer”, organized by NGO Bitcoin Argentina.
- Thursday April 28: Streaming webinar “Introductory talk on bitcoin and blockchain”, organized by NGO Bitcoin Argentina.
- Thursday May 5: Informative talk “Presentation of the Schools and Bitcoin project”, organized by the NGO Bitcoin Argentina.
Businesses that accept cryptocurrencies in Spanish-speaking countries
AUROLIGHTING Engineering (electrical designs and construction of photovoltaic projects, Colombia)
- Ceci’s Grilled Delights (restaurant, Salinas, Ecuador)
- Destinations Tours travel and ecotourism (travel agency, Colombia)
- JAM Services (Maxikiosko in Misiones, Argentina)
- Taqueria Cinco The Downtown (Restaurant, Veracruz, Mexico)
- intuition (Clothing store in Caracas, Venezuela)
- Congo monkey (Coffee in Dominical, Costa Rica)
- farm (Pharmacy in Dominical, Costa Rica)
- The Seventy Crepes (restaurant in Bogota, Colombia)
- crypto jeans (jeans factory in Colombia).
- Native Bamboo (Hotel located in La Montañita, Ecuador).
- La Manuela Tattoo (tattoo studio in Madrid, Spain).
Do you know or have a small business that accepts bitcoin and other cryptocurrencies for its products and services?
We invite you to share the information with us through [email protected]. We will inform about the adoption of cryptocurrencies of that business in some of the Spanish-speaking countries.