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Bolivia Sells Gold for Dollars, Argentina Bans Fintech Crypto, Fitch Upgrades El Salvador’s Credit Rating – Bitcoin News

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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Fitch lowers El Salvador’s rating due to Bitcoin adoption

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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Fitch says proposed Russia crypto ban eases risks but curbs innovation

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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Stablecoins Like Tether Could Pose New Risks to Securities Markets, Warns Fitch

“We believe it will not directly affect the CP market due to the government-securities focus of Diem’s declared reserve allocation plan, but alternative allocation strategies remain possible and, depending on its scale, the operator may become an important participant in other short-term markets,” Fitch said. Original Source

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Fitch Ratings warns El Salvador’s ‘Bitcoin Law’ will pose risk to local insurers

Fitch Ratings has become the latest global credit rating agency to warn El Salvador against adopting Bitcoin (BTC) as legal tender, expressing concerns that crypto assets could cause systemic risks for the Latin nation.Citing the country’s lack of clarity in Bitcoin’s implementation in mainstream markets, Fitch Ratings warned about the

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