Welcome to Latam Insights, a weekly roundup of the most significant crypto and economic news from Latin America. In this edition: El Salvador is set to educate 80,000 public servants on Bitcoin, Mercado Libre unveils its own dollar-pegged stablecoin, and Paraguay intensifies its crackdown on illegal bitcoin mining operations.
El Salvador to Educate 80,000 Public Servants on Bitcoin
El Salvador is investing in the education of its public servants regarding Bitcoin. The Bitcoin Office of El Salvador has announced that 80,000 public servants will receive certification and training on Bitcoin through a module included in the Public Administration curriculum from the Higher School of Innovation in Public Administration (ESIAP). This initiative aims to strengthen public administration by implementing training and research programs for all civil servants nationwide.
The Bitcoin training is part of a nine-module program that can be completed virtually over 160 hours. The seventh module will cover Bitcoin alongside topics such as blockchain, cybersecurity, and artificial intelligence (AI).
Mercado Libre, Latam’s Largest Company, Launches Own Dollar Stablecoin
Mercado Libre, the largest company in Latin America by market capitalization, has launched its second cryptocurrency project. The e-commerce giant has introduced meli dolar, a dollar-pegged stablecoin aimed at the Brazilian market, developed in collaboration with Ripio, an Argentine cryptocurrency exchange. This stablecoin is already available within the Mercado Pago portal, allowing users to buy and sell it to maintain a stable balance in their wallets during the first rollout phase.
National Power Administration of Paraguay Seizes 693 Miners in Illegal Bitcoin Mining Operation
The Paraguayan government continues its efforts against illegal bitcoin mining. Recently, the National Power Administration of Paraguay (ANDE) seized a facility in Hernandarias that housed 693 mining machines. This operation was detected through Supervisory Control and Data Acquisition (SCADA) systems, which monitored power consumption in the area.
The illegal operation had tampered with the power meter, allowing them to register only part of their energy consumption. The official report indicated that while the meter showed 749.5 kW, the actual power load was 2,151 kW, allowing the operators to save 65% on operating costs.
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