Latam Insights: Brazil to Offer Bitcoin Futures, Paraguay Battles Mining, Worldcoin Wins in ChileWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: the Brazilian stock exchange will offer bitcoin futures contracts, Paraguay advances measures to curb illegal bitcoin mining operations, and Worldcoin gets a legal victory in Chile.Brazilian Stock Exchange B3 to List Bitcoin FuturesThe Brazilian Securities and Exchange Commission (CVM) has approved a bitcoin futures contract to be listed in B3, the Brazilian stock exchange. While the launch date is still not confirmed, local sources state that the instrument might be available for trading on April 17.
The contract conditions establish that the Nasdaq Bitcoin Reference Price (NQBTC) will be taken as a reference for settlements, and each contract will have a value of 0.1 BTC in reais, having a monthly expiration period.
While several crypto ETF products are already available for B3 investors, this new instrument is part of the institution’s expansion in the cryptocurrency market, giving investors diversification options in this field.
In an informative note, Felipe Gonçalves, superintendent of interest and currency products at B3, stated:
This launch meets the demand for a derivative product that allows protection from bitcoin price fluctuations or directional exposure to the asset, maintaining the security of operating in the Brazilian exchange environment.
Paraguay Gears Up to Battle Illegal Bitcoin Mining OperationsThe government of Paraguay is preparing to fiercely fight illegal cryptocurrency mining operations. In a meeting held last week between ANDE, the National Power Administration, the Supreme Court, and the Department of Justice, it was agreed to expedite several actions to combat illegal mining operations swiftly.
The three institutions established an inter-institutional partnership that will allow the Department of Justice to deal with these cases easily, incorporating several aspects detailing the persecution and punishment of the actors in the theft of electrical energy.
More so, the president of the Supreme Court, Dr. Luis María Benítez Riera, stated that the country’s courts will deal with these cases quickly, giving warranties that due process would be followed.
Worldcoin Gets Legal Victory in ChileWorldcoin will be able to keep operating in Chile, at least for now. Chilean courts rejected a complaint seeking to block Worldcoin operations in the country, explaining that it found no legal wrongdoing with Worldcoin’s biometric data acquisition activities.
In its ruling, the court stated:
No facts are described that may constitute a violation of constitutional guarantees that can be protected in this way.
Kamanau Foundation’s Moises Sanchez, who introduced the legal complaint, detailed he would appeal this decision before the Chilean Supreme Court. The institution will have to decide if the claims made in the complaint are admissible and considered a crime under Chilean law.
Source: https://news.bitcoin.com/latam-insights-brazil-to-offer-bitcoin-futures-paraguay-battles-mining-worldcoin-wins-in-chile/
