crypto use
Remittances drive ‘uneven, but swift’ crypto adoption in Latin America
Remittance payments, fiat fears, and profit-chasing have been the three most significant drivers of crypto adoption in Latin America, according to a new report. The seventh-largest crypto market in the world saw the value of cryptocurrencies received by individuals rocket 40% between July 2021 to June 2022, reaching $562 billion, according to an Oct. 20 report from Chainalysis. Part of the surge was attributed to remittances, with the region’s overall remittance market estimated to have reached $150 billion in 2022. Chainalysis noted that crypto-based service adoption was “uneven, but swift.” The firm pointed to one Mexican exchange operating in the “world’s largest crypto remittance corridor” which processed over $1 billion in remittances between Mexico and the Unite...
Human rights activists take aim at privileged crypto critics in letter to Congress
Human rights activists from 20 countries have submitted an open letter to the United States Congress in support of a “responsible crypto policy” and praising Bitcoin and stablecoins as essential tools aiding democracy and freedom for tens of millions. The letter comes just a week after an anti-crypto open letter was sent to Congress purporting to be from the scientific community but whose lead signatures included well known crypto critics and authors from high income, democratic countries. The group of 21 activists clapping back include those from countries which have either seen recent conflict or have otherwise unstable economies such as Ukraine, Russia, Iraq, Nigeria, Venezuela, Cuba and even North Korea. The letter states: “We write to urge an open-minded, empathetic approach toward mo...
