Cryptocurrency Analysis and News Portal
PLUS: Bitcoin dominance sagged in July, absent a compelling BTC catalyst, and as altcoins seemed to benefit from a partial Ripple court victory. Source
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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech companies from using crypto, and Fitch improves El Salvador’s
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Ratings company Fitch downgraded El Salvador's long-term foreign currency issuer default rating (IDR), saying it is likely to default on a bond repayment due January. Original Source
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Concerns over ability to service debt, concentration of power in the presidency, and adoption of bitcoin as legal tender drove the downgrade. Source
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El Salvador faces another whipping from a traditional finance firm for its "forbidden" love for Bitcoin (BTC). American credit rating agency Fitch Ratings lowered El Salvador’s long-term Issuer Default Rating (IDR) from B- to CCC, mentioning “policy unpredictability” and the “adoption of Bitcoin as legal tender” as some of the factors that
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On Friday, credit rating agency Fitch published a research piece about Russia's proposed ban on cryptocurrencies. Although the report agreed with the Central Bank of Russia's (CBR) position that the ban would limit its financial system's exposure to risks, it also cautioned that such a proposal could "hold back the
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