Bitcoin Holds Above US$64,000 as Latin America Sticks With Stablecoins
Key Facts
- Bitcoin settled Monday at US$64,506 a 2.69% daily gain that kept the largest cryptocurrency above the psychologically important US$64,000 line without breaking into a decisive new range.
- Ethereum closed at US$1,912 up 2.04% on the session, while Solana rose 1.88% to US$75.94 and XRP added 1.07% to finish at US$1.0026.
- Washington started writing the stablecoin rules — the US Treasury put out its proposal on Monday setting who may legally sell stablecoins to American customers. Comments run 60 days; the law itself takes effect on 18 January 2027.
- Stablecoins were 98% of Brazil’s crypto buying — more than 98% of US$6.9 billion of crypto purchases in the first quarter, the central bank says, with total volume more than double a year earlier.
- Argentines buy dollars, not bets — USDT and USDC are more than 70% of everything bought on the exchange Bitso in Argentina, and payroll firm Bitwage says about three in four crypto-paid workers now take their salary in stablecoins.
- Two regulatory moves worth noting — Binance says it will apply for a British licence when applications open on 30 September, and America’s bank regulator gave preliminary approval to a trust bank tied to the Trump family’s World Liberty Financial.
Today’s Focus
Bitcoin ended Monday’s session at US$64,506, a 2.69% gain driven by a softer US dollar and fading bets on further interest-rate rises. Ethereum settled at US$1,912, up 2.04%, with Solana and XRP posting smaller gains of 1.88% and 1.07% respectively.
It was a quiet, range-bound session. Spot Bitcoin funds shed about US$390 million over the previous week — their worst week in six — and miners have been steady sellers all year, which took the edge off the macro support. No single story pushed the market out of its band.
For Latin America, the regulation mattered more than the price. The US Treasury published its proposal on who may legally sell stablecoins, ahead of the GENIUS Act taking effect on 18 January 2027. Binance said it would seek a British licence, and America’s bank regulator gave preliminary approval to a trust bank set up to issue World Liberty Financial’s dollar token.
What matters today. Monday’s modest price gains are less important for Latin America than the stablecoin rules now being drafted in Washington, because dollar-linked tokens remain the region’s dominant crypto use case.
01 The session in one read
Bitcoin settled Monday, August 17, 2026 at US$64,506, a rise of 2.69% on the day that kept the coin above the US$64,000 threshold without sparking a breakout.
Ethereum finished at US$1,912, up 2.04%, while Solana added 1.88% to close at US$75.94 and XRP climbed 1.07% to US$1.0026.
The tone was that of a market grinding higher on a softer dollar and fading rate-hike expectations, not one reacting to a single dramatic catalyst.
Latin American adoption is structural rather than speculative. Brazil’s central bank found that more than 98% of crypto bought in the first quarter of 2026 was stablecoin-denominated, and Argentine savers overwhelmingly choose USDT and USDC. Monday’s 2.69% Bitcoin gain does not change that. What could change it is the rulebook now being written in Washington: any compliance cost the GENIUS Act pushes onto the firms that issue dollar tokens will eventually show up in what a Latin American saver pays for a digital dollar.
02 The board
Bitcoin at US$64,506 held comfortably above the session’s early US$63,000 levels, reflecting gains that accumulated through Asian and European hours rather than a late spike.
Ethereum’s close at US$1,912 put the second-largest cryptocurrency back near the US$1,900 line it had briefly crossed intraday, while Solana and XRP tracked the broader advance with smaller percentage moves.
| Asset | Level | Change |
|---|---|---|
| Bitcoin | US$64,506 | +2.69% |
| Ethereum | US$1,912 | +2.04% |
| Solana | US$75.94 | +1.88% |
| XRP | US$1.0026 | +1.07% |
Source: RT close, 2026-08-17. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 166,783.57 | -0.09% | +21.85% | 166,934.20 | 168,310 | 167,142 | — |
| IPSA | 11,148.13 | +0.96% | — | 11,042.67 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 64,152.21 | -0.38% | +12.17% | 64,397.45 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,947,349 | -1.77% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,452.46 | +0.00% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 58,334.31 | +0.12% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
A weakening US dollar and reduced expectations for additional Federal Reserve tightening provided the macro tailwind that lifted risk assets broadly on Monday.
Three things capped the upside: spot Bitcoin funds lost roughly US$390 million in the week to Monday, their heaviest outflow in six weeks; leveraged buyers had been flushed out in recent days; and miners have sold heavily through 2026, more than 32,000 coins in the first quarter alone. Volatility sat at its lowest since September 2025 — coiled, not impulsive.
The bank regulator’s preliminary nod to the World Liberty trust bank, and Binance’s stated plan to apply in Britain, added newsflow without changing the day’s technical picture.
04 The Latin American read
The day’s real story for the region was regulation, not price. The US Treasury published its proposed rule on who may legally sell stablecoins to Americans, opening a 60-day comment period before the GENIUS Act takes effect on 18 January 2027.
Brazil’s central bank reported that stablecoins made up more than 98% of US$6.9 billion of crypto purchases in the first quarter of 2026, with total volume more than doubling year on year. The tax authority, counting a longer period and a wider definition, puts stablecoins at about 80% of all declared crypto volume. Either way, the dollar token is the instrument that matters here.
Argentina shows the same pattern more starkly. On the exchange Bitso, USDT and USDC are more than 70% of everything Argentines buy. And the payroll company Bitwage reports that around three in four workers who are paid in crypto now ask for stablecoins — a wage packet that does not shrink when the peso does.
El Salvador’s digital-asset regulator, the CNAD, has now registered more than 80 licensed providers, four of them Bitfinex companies. That makes the country the region’s most permissive legal home for stablecoin and tokenised-asset businesses.
05 The names to watch
World Liberty Trust Company, tied to the Trump family’s World Liberty Financial, won preliminary conditional approval on 14 August to organise an uninsured national trust bank for its dollar token. It cannot open for business yet — it must first meet the regulator’s conditions, including US$20 million of capital.
Binance intends to apply for a British licence when the window opens on 30 September. That would be a return five years after the UK regulator ordered its British arm, Binance Markets Limited, to stop all regulated activity in June 2021.
BitMine Immersion Technologies, chaired by Tom Lee, bought another 9,926 Ether for about US$19 million on Monday. That takes it to 5.8 million coins, or 4.8% of the circulating supply — a concentration worth watching, because a change of mind at one company would move the price.
06 The outlook
Markets now await the final shape of the GENIUS Act stablecoin rules, which will determine whether platforms selling dollar-linked tokens to US customers face new restrictions from January 2027.
That matters here because the region runs on those tokens. Brazil alone moved an estimated US$78 billion in stablecoins in 2024, and the volumes have grown since. Friction in the American market would show up sooner or later in the cost and availability of on-chain dollars in São Paulo and Buenos Aires.
Watch two things beyond that: whether El Salvador keeps licensing at this pace, and whether paying salaries in stablecoins spreads from freelancers into Argentina’s formal payrolls.
07 What to watch
- The GENIUS Act rulebook: The Treasury’s proposal is out for 60 days of comment. The final version sets what Latin American platforms must do before 18 January 2027.
- Brazil’s BCB regime: Resolutions 519, 520 and 521 impose VASP authorisation and Travel Rule duties, testing whether stricter compliance alters stablecoin dominance.
- El Salvador’s licences: More than 80 registered digital-asset providers make the country the region’s proving ground for stablecoin and tokenised-asset platforms.
- Binance in Britain: Applications open on 30 September. A successful re-entry would change how the biggest exchanges spread their compliance budgets across emerging markets, Latin America included.
Frequently Asked Questions
Why did Bitcoin rise on Monday?
A softer US dollar and fading rate-hike expectations lifted Bitcoin 2.69% to US$64,506, though fund outflows and steady miner selling kept the move contained.
What is the GENIUS Act?
A US stablecoin law signed in July 2025 that takes effect on 18 January 2027. The Treasury is now writing the rules on who may legally sell stablecoins to Americans.
Why does stablecoin news matter for Latin America?
Stablecoins are the bulk of the region’s crypto activity — more than 98% of Brazilian crypto purchases in the first quarter of 2026, according to the central bank.
How are Argentina’s workers using crypto?
The payroll firm Bitwage reports that around three in four crypto-paid workers now take USDT or USDC — a bottom-up dollarisation that shields wages from peso depreciation.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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