ADOPTING Cryptocurrency IN SOUTH AMERICA | Current reality | Regulations is near | (ENG)

_{src: canstockphoto.es/google.com/maps/vecteezy.com}

Today it stands at 9,584.92 US $ _{(data extracted on July 15, 2019, coingecko.com)} which represents an acceptable value, but keeps us alert to another possible change that may affect all the cryptocurrencies that are governed by the value of this digital asset.

Some experts say that its recovery was due to the announcement of the creation of "Libra" by FB, but others do not see it that way and bet that bitcoin has behaved according to the reality of the global market.

Up to now there are no regulations to the cryptocurrency on the part of the governmental entities; In some countries such as Argentina, Chile and Colombia, the recommendations suggested by the FATF are still a subject of study and a sensitive issue for encryption investors since they see it more as a threat than as a corrective aspect.

In Argentina, the use of bitcoin has a high level demand where the Argentine Central Bank manages the possibility of giving legal course to the cryptoactives,

not being the case of Colombia who despite the massive adoption of virtual assets and their social acceptance as a means of payment, the government says that the use of the cryptocurrency has no legal backing and does not bear any equivalence with the national currency (Colombian peso).

Chile, meanwhile, cryptocurrency also has an accelerated growth, but experts in crypto-finance recommend regulating this trade because its use becomes speculative, since it allows the purchase of bitcoin with Chilean pesos which could reach move the national money.

Peru represents the nation with the lowest boom in the area of ​​encryption, perhaps, motivated by the ignorance of the majority in the issue of decentralization, which have preferred to remain attached to traditional financial systems;

for its part Venezuela created the Superintendence of Cryptoactives and Related Activities, which generates some legal support from the government on virtual assets in this nation.

_{(Information consulted at the source: mundo.sputniknews.com)}

After this panoramic view of the current situation of the cryptocurrency in South America I can ask:

_{HOW WILL THE ACCEPTANCE OF CRYPTOCURRENCY IN THE COMING YEARS?
WILL MASS ADOPTION BE POSSIBLE IN ALL OF SOUTH AMERICA?
WILL THE AUTHORITIES ALLOW THE USE OF ENCRYPTION ADJUSTED TO A LEGAL FRAMEWORK?}

Pending that this article has been to your liking and can contribute with your knowledge in the area of ​​encryption, I say goodbye.





_{src: canstockphoto.es}

Credits:
@nachomolina
_{Crypto content developer}

_{The cover image was edited by the author using PowerPoint 2010}

The following sources were consulted:

_{www.fatf-gafi.org}

_{america-latina-bitcoin-monedas}

_{criptomonedas-vs-fiat}

_{www.bancaynegocios.com/bitcoin}

_{Google translator was used}