Tether unveils mining software to boost efficiency and capacity
The recently introduced Tether BTC mining software’s primary aim is to enhance the efficient management of mining capacity, leading to more effective operations.
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Značka: Uruguay
Tether moves into Bitcoin mining in Uruguay
As part of its expansion into mining, Tether cited Uruguay’s capability of generating 94% of its electricity from renewable sources, including wind and solar.
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New regulatory bill grants Uruguayan Central Bank control over the nation's crypto industry
The Uruguayan government has introduced legislation to the parliament that accelerates the regulation of the crypto space in the country and establishes the central bank as the regulatory authority.Introduced on Sept 5, the bill strives to clarify the country’s regulatory framework for cryptocurrency assets, stating that all companies that provide digital asset-related services, including initial coin offerings (ICOs) are under the supervision of the Superintendency of Financial Services (SSF), a central bank entity. Cryptocurrency exchanges, custody services and any financial services relating to these digital assets should also adhere to Anti-Money Laundering regulations and best practices.Additionally, the document defined four types of digital assets: stablecoins, governance tokens, tradable assets and debt tokens, saying:”If the activity carried out with these instruments involves the exercise of financial intermediation or financial activity, it will be subject to the regulation and control of the Central Bank of Uruguay.”Last year, Uruguayan Senator Juan Sartori introduced a draft bill to regulate cryptocurrency and enable businesses to accept digital payments, seeking to “establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies.”This development is part of an ongoing wave of legislation or regulations being pursued by governments or legislators in Latin America. Brazil’s Securities and Exchange Commission is reportedly pursuing to change its legal framework to recognize tokens as digital assets or securities. In August, Paraguay’s president vetoed a bill that sought to recognize cryptocurrency mining as an industrial activity, arguing that mining’s high electricity consumption could hinder the expansion of a sustainable national industry.
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Uruguay reportedly installs its first Bitcoin ATM
Uruguay has reportedly installed its first Bitcoin (BTC) ATM, making it the 11th South American country to publicly encourage crypto adoption. Prior to Uruguay’s involvement, South America hosted 79 ATMs, which represented 0.2% of global BTC ATM installations.According to Ámbito, Uruguay’s first crypto ATM was installed in the coastal city of Punta del Este, a major tourist attraction in the region. Uruguay’s first Bitcoin ATM was developed and installed in partnership with two local crypto companies — URUBit and inBierto. The crypto ATM in Uruguay currently supports withdrawal and deposits of five cryptocurrencies, namely — BTC, Binance Coin (BNB), Binance USD (BUSD), Ferret Token (FRT) and Urubit (URUB). FRT and URUB are in-house cryptocurrencies managed and distributed by URUBit and inBierto respectively. Adolfo Varela, the CEO of inBierto, confirmed that the initiative was 100% funded by the government of Uruguay. inBierto is a crypto investment platform, who is also a member of the Uruguayan Chamber of Fintech (Cámara Uruguaya de Fintech), a startup accelerator focused on the fintech sector. URUBit is a decentralized token created in Uruguay and deployed in the Binance Smart Chain (BSC).Data from Coin ATM Radar shows that Colombia leads the South American market with 31 crypto ATM installations to date, who is followed by Brazil and Argentina at 22 and 11 installations respectively.Other South American countries such as Ecuador, Venezuela, Aruba and Saint Kits and Nevis have also installed one crypto ATM. inBierto has not yet responded to Cointelegraph’s request for comment.Related: Uruguayan senator introduces bill to enable use of crypto for paymentsLast year, an Uruguayan senator introduced a draft bill seeking to regulate cryptocurrency and enable businesses to accept crypto payments.As Cointelegraph reported, senator Juan Sartori was not keen on adopting crypto as a legal tender. Instead, he suggested:“Today we present a bill that seeks to establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies in Uruguay.”
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