Argentine Startup Action Point Develops White Label Solution to Include Crypto in Traditional ATMs

argentinian crypto atmAction Point, an Argentine startup, has developed a white-label solution that allows banks to offer cryptocurrency services through their already existent ATM infrastructures. The company provides this service in partnership with Lirium AG, a crypto-as-a-service organization, and has already implemented the solution in over a dozen ATMs in the country. Argentine Startup Action Point Takes […]

US Lawmakers Introduce Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal Tender

US Lawmakers Introduce Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal TenderSeveral U.S. lawmakers have introduced a bill to mitigate the risks from El Salvador adopting bitcoin as legal tender. “El Salvador recognizing bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests,” said a U.S. senator. US Concerned About Risks From El Salvador’s Bitcoin Law The U.S. Senate Committee on […]

Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks

Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin RisksOne of the largest rating agencies in the U.S., Fitch Ratings, has downgraded El Salvador’s long-term default rating deeper into junk status, citing risks from adopting bitcoin as legal tender as a key reason. “The adoption of bitcoin as legal tender has added uncertainty about the potential for an IMF program that would unlock financing […]

El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender

El Salvador Rejects IMF's Call to Abandon Bitcoin as Legal TenderEl Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says No to IMF on Bitcoin The government of El Salvador has rejected a recommendation […]

El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet

El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin WalletOn February 2, 2022, the blockchain infrastructure provider Alphapoint has announced that the Salvadoran government has chosen the firm to operate the bitcoin wallet Chivo. The bitcoin wallet is the largest fintech application in the country and Alphapoint “supports the frontend and backend infrastructure that powers the wallet and integrates the entire ecosystem.” Alphapoint to […]

Central Bank of Ecuador Might Regulate Cryptocurrencies This Year

ecuadorThe Central Bank of Ecuador is planning to issue cryptocurrency-specific regulation later this year. According to statements from Guillermo Avellan, the manager of the Central Bank of Ecuador, this will bring more clarity to the cryptocurrency scene in the country, and will contribute to preventing crimes such as money laundering. Central Bank of Ecuador Has […]

IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential Benefits

IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential BenefitsThe International Monetary Fund (IMF) has told El Salvador that the costs of implementing the country’s Bitcoin law, which makes the cryptocurrency legal tender, exceed the potential benefits. The IMF has also urged El Salvador to dissolve the “Fidebitcoin” trust fund and start charging fees for services provided by the government’s Chivo digital wallet. IMF’s […]