Crypto in Latin America: who’s next?

Crypto in Latin America: who’s next?

After El Salvador’s Bitcoin law the eyes of the crypto community are all on Latin America. Who will be next to pick up the trend?

Will it be Panama? This week a deputy presented a project of law aiming at promoting crypto and making it a legal means of payment (although it won’t be compulsory for the businesses to accept it, like in El Salvador).

Will it be Uruguay? A similar bill to make cryptocurrencies usable in any legal activity was presented last month.

Will it be Brazil? A recent online poll revealed that 48% of the surveyed population were favourable to adopting Bitcoin.

Will it be Argentina? Last month its President showed his openness to explore crypto, acknowledging its importance of hedging against inflation…

What is sure is that the region relies heavily on the dollar as a store of value (local currencies often suffer from high inflation) and means of exchange (remittances from people working in the US and sending money home). Bitcoin is better at both these roles, so it could really make sense to acknowledge it alongside the dollar – and let people choose.