The measure would make Apple accept payments outside the platform in its apps. Enthusiasts noted that this measure could benefit cryptocurrencies if they get listed as a means of paying for products and services.

The case in courts of the game developer Epic against Apple has reached a new stage, just after the responsible judge ruled that the latter must forbid the link of third-party payment gateways in all applications marketed through its store online.

This decision was Judge Yvonne Gonzalez Rogers’ idea, who explained that it is no longer mandatory for developers to run only Apple’s payment system in their applications.

This decision would turn down a monopoly the technology company had been leading on the capital that flows through the applications of its network.

Previously, the developers of the active applications on iOS had to pay Apple a part of the income from every one of the purchases/subscriptions made through the apps. This situation happened because the company had stopped them from linking payment services belonging to third parties.

In this way, the company enabled the only payment channel available for this kind of purpose. The strategy suddenly generated a profit of up to 30% for each successful operation.

The Controversy Regarding Epic and Apple

This measure responds directly to the dispute that Epic Games and Apple have in court. The game developer company filed an antitrust lawsuit against the latter for the reasons explained before.

This lawsuit became much more relevant when the technology company removed Fornite, the popular BattleRoyale that works on various popular platforms, from its application store after discovering that they generated income through other channels.

As such, the trial is still on its course, and the court order would take effect within the next 90 days, leaving Apple the possibility to appeal the corresponding ruling.

This Dispute Would Benefit Crypto

While the measure represents a victory for iOS application development teams and payment gateway operators, analysts and enthusiasts of both companies highlight that this would mean great chances for cryptocurrencies.

 Apple has been using, until now, secret strategies that do not allow users to seal payments with cryptocurrencies to acquire products and services in its online store. If the measure overturns this ban, digital currencies could start flowing through the operating app on iOS.

This situation would open new chances for all those interested users who make their operations with devices linked to the company.

In this regard, the CEO of Uniswap Labs, Hayden Adams, hinted that perhaps this situation could be an announcement that boosts the price of the first cryptocurrencies.

Users then have to wait and see how the case develops. It means they have to wait for the measure to become effective in case Apple does not win an appeal.

By: Jenson Nuñez

The Banxico representative ruled out Bitcoin as legal tender. The governor of the central bank of Sweden said something similar about Bitcoin a few days after the adoption that took effect in El Salvador.

The governor of the Bank of Mexico (Banxico), Alejandro Díaz de León, said Bitcoin (BTC) is not real money. He said that Bitcoin is not even a currency.

During an interview with Reuters, the current leader of the Central Bank in Mexico spoke about recognizing the flagship cryptocurrency as legal tender. The representative of the monetary authority presented various arguments against the acceptance of the currency.

Among these arguments, the representative assured that the cryptocurrency should not be in parallel with money because it did not represent a reliable payment method.

The comments suggest that Mexico does not intend to follow El Salvador in adopting Bitcoin as legal tender.

This week the Bitcoin Law became active in that nation, which gives the cryptocurrency legal currency status. As a result, banks, businesses, and companies in that country have been working to integrate cryptocurrency as one means of payment.

Bitcoin is not Money or a Store of Value Asset

Díaz de León questioned the position of Bitcoin as a legal currency highlighting the high volatility of the digital asset. Among his arguments, he also clarified that a cryptocurrency as a means of payment is more like barter than fiat money managed by central banks, which he classified as evolved.

Regarding the volatility of the cryptocurrency market, the governor of the central bank in Mexico highlighted the need for reliability when it comes to payment execution and value. He stated that if citizens reject their purchasing power, their salary will go up or down 10% from one day to the next.

Díaz de León also spoke against Bitcoin’s potential as a store of value asset. Diaz de Leon, while admitting that Bitcoin’s place in the current financial system resembles a similar dimension to the ones of precious metals, suggesting a similarity between the use of gold and cryptocurrency.

Bitcoin Would be About to Crash, According to Swedish Central Bank Governor

Last week, Bitcoin experienced a notable price fluctuation. On Tuesday, the asset registered heights above USD 52,700 and fell below $ 9,000 in less than 24 hours.

The government of El Salvador witnessed volatility on its first day of adopting Bitcoin with the acquisition of 200 BTC before the witness of the drop.

The first cryptocurrency approached an all-time high above $ 64,000 in May but plunged more than 50% from that record in July. At press time, the cryptocurrency keeps going through the recent downtrend, trading around $ 45,000.

Financial authorities in Mexico have made similar arguments against Bitcoin in the past. In late June, Finance Minister Arturo Herrera stated that cryptocurrencies are not legal tender assets; nor are they treated as currencies within the regulatory framework that works in the country.

Other central banks have also taken a position to warn about digital currencies last week following the adoption of Bitcoin in El Salvador. At a banking conference in Stockholm, the governor of the Swedish central bank (Sveriges Riksbank), Stefan Ingves, also rejected Bitcoin as legal tender.

By: Jenson Nuñez

Latin Americans see crypto assets as an opportunity to diversify their investments, safeguard value, and make money exchanges. A growing number of people in Argentina, Brazil, Colombia, Mexico, Chile, and Venezuela have expressed interest in learning about Bitcoin.

The news about the entry into force of the Bitcoin Law in El Salvador has quickly spread to other Latin American countries. A survey revealed that around 50% of Colombians, Argentines, Brazilians, and Mexicans agree with adopting BTC as legal tender.

Latin Americans would use cryptocurrencies to diversify their investments, protect value, and make international money exchanges. That is understandable since the region is one of the largest recipients of remittances from abroad. Furthermore, there has been a long history of inflationary economies in Latin America.

The survey indicates that 56% of Brazilians support the decision made by El Salvador. Another 48% of those surveyed even expect something similar to happen in that South American country. In Colombia, 52% said they agree with the measure in El Salvador, while 51% do so in Mexico and 45% in Argentina.

There Should Be More Education About the Use of Bitcoin

The study highlighted that respondents are willing to engage even more with cryptocurrencies. However, they admitted that they need to receive better education about Bitcoin and other digital assets. One element encouraging them to invest in crypto assets would be learning to use platforms that do not require specialized knowledge.

Consultant Luiz Haddad noted that the blockchain and cryptocurrency market would continue to grow in Latin America in the coming years. He explained that the Salvadoran initiative would set an example to incorporate blockchain and cryptocurrencies into the economy and benefit citizens.

According to the poll, some factors hold Latin Americans back from investing in the pioneering cryptocurrency. The main reasons are economic inequality and lack of knowledge on how to trade Bitcoin. In that sense, the participants requested wider dissemination of literature so that there is more confidence.

A total of 2,200 people from Argentina, Brazil, Colombia, Costa Rica, Chile, El Salvador, Mexico, and Venezuela participated in the survey. Approximately 50% of the respondents from each of those countries are willing to accept the legalization of Bitcoin.

Bitcoin is Emerging on the Latin American Continent

Latin Americans are not the only ones who have reacted to the decision made by El Salvador. Other countries in the region are discussing the adoption of Bitcoin to attract investment for fields such as mining. For example, the authorities of Paraguay, Uruguay, and Panama are already making legislative advances.

Latin America has many cryptocurrency exchanges, startups focusing on developing wallets, the Bitcoin Lightning Network, decentralized finance (DeFi) apps, and digital identity projects.

The relevance of Bitcoin is increasingly evident in the world economy, which is why many governments have it in their sights. Adopting the pioneering cryptocurrency as legal tender in El Salvador is just the beginning of other similar cases. Of course, those who decide to do so will have to face the opposition of different actors in society, as in the Central American country.

By Alexander Salazar

Regulation is key to the growth of the industry without obstacles that hinder its development. Parliament will discuss four initiatives to regulate Bitcoin and digital mining.

The interest in regulating Bitcoin (BTC) has led the Assembly of Panama to introduce four bills. The civil society proposed two of them while two deputies submitted the other two.

Janice Becerra and Rodrigo Icaza are members of the Chamber of Digital Commerce and Blockchain of Panama. They said the country seeks to regulate cryptocurrencies to allow the industry to grow without obstacles that hinder its sustainable development.

Becerra adds that it is necessary to accept Bitcoin and other cryptocurrencies as part of a digital world and evolve alongside them.

The lawyer founded the Chamber of Digital Commerce and Blockchain (CCDB), a non-profit organization operating for seven years. They care about education, the organization of activities, and programs that encourage adopting the blockchain system.

As an advisor to the top office of the Government Innovation Authority of Panama, Becerra focuses on the educational aspect. She believes that knowing the technical aspects of the regulated object will make it possible to provide a clear legal framework on new trends.

Parliament Discusses Four Bills to Regulate Bitcoin

Currently, four bills in the National Assembly of Panama are awaiting the three mandatory discussions.

Isaza believes that the State should promote alternatives for people to make fiat exchanges when sending or receiving payments. Similarly, Becerra believes that economic agents must accept cryptocurrencies as a payment method.

According to the lawyer, each cryptocurrency has a specific use, so not all are viable means of payment. In this regard, Icaza added that some Panamanian citizens disapprove of the 047 initiative as it mentions cryptocurrencies such as Dogecoin.

Deputy Cenobia Vargas presented another bill to regulate cryptocurrencies before the Assembly of Panama. Icaza commented that the problem is that it adapts Bitcoin technology to the traditional financial system, but not the other way around.

Additionally, Becerra believes that the proposal by Vargas focuses on taxes. For that reason, the deputy proposes to issue a license to cryptocurrency service operators with a single fee of USD 10,000.

Recently, Congressman Gabriel Silva introduced the fourth bill to regulate Bitcoin and other cryptocurrencies in that country. The document seeks that there is certainty and legal security for those assets in Panama.

According to Silva, the approval of the regulatory law on crypto assets would promote financial inclusion. Only 46.5% of the Panamanian population has transactional bank accounts. That is lower than the regional average of 54.4% and well below the global average of 68%.

Panama Wants to Regulate Bitcoin to Get Off Blacklists

Following the Panama Papers scandal, France included Panama on its blacklist of tax havens in 2016. The Financial Action Task Force (FATF) recently put the country on the gray list.

In this regard, Janice Becerra notes that local banks have lost their international correspondents. That has limited international transactions, which harms trade and negatively impacts the local financial system.

The lawyer adds that Panama needs to get off the blacklists that label it a tax haven. That is especially true now when there is a lot of interest in regulating cryptocurrencies.

By Alexander Salazar