Cryptocurrencies, new political tool of Latin America’s rebel governments

First it was Venezuela, then El Salvador, and now Cuba.

RIO DE JANEIRO, BRAZIL - The three Latin American governments that have adopted cryptocurrencies so far have something in common: a strained relationship with the United States. No one is more accommodating to virtual currencies reaching the masses than countries that want the benefits of global economic integration while bypassing the dollarized banking system.

On Tuesday, the Bitcoin Law will come into effect in El Salvador, thus becoming the first country in the world to make Bitcoin its national currency. In Cuba, the central bank recently announced that it will legalize cryptocurrencies in light of the increased use of Bitcoin, Ethereum . . .

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