Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.
That’s really nice and I’m quite surprised that the two platforms that you have mentioned are being controlled and funded by the Uruguay government. I thought that the two platforms were going to be private owned platforms, but it being funded by the government now shows that their government is fully in support of cryptocurrency.
It wouldn’t be like other countries where anyone who is making use of crypto currency would be having issues with the government, rather the people in this country would feel free to use cryptocurrency to any extent without having any issues at all or worrying about having any possible issues with the government. I am also looking forward to other countries adopting cryptocurrency to this level, and I’m very aware of El Salvador that has adopted Bitcoin as a legal tender.
Not only with these affirmations is it good, but this will also enormously increase the market demand, now it will not only be the demand of an imposing country and believer in BTC such as El Salvador, I also see Uruguay, Argentina, Peru very well on the way , Chile and consequently Venezuela that the government is obviously mining BTC, in the end all this is beneficial because when supply decreases and demand increases, this will be reflected in a very good price, so seeing this whole scenario is not unreasonable for those who are unsure about investing in BTC.