U.S. Trade Report Targets Brazil’s Pix System and Crypto Developments in Latam
- The U.S. Trade Representative claims Brazil’s Pix system restricts U.S. commerce, citing Section 301 of the Trade Act.
- Chilean authorities arrested 18 individuals linked to the Tren de Aragua cartel, who allegedly laundered $88 million through cryptocurrency.
- Adecoagro, backed by Tether, plans to build a Bitcoin mining farm in Brazil powered by sugarcane energy.
The USTR’s report highlights concerns over Brazil’s Pix system potentially impacting U.S. service providers by imposing additional costs and promoting local competitors without compensation. Meanwhile, Chilean authorities dismantled a major crypto money laundering operation connected to a Venezuelan cartel.
These developments underscore ongoing challenges in international trade relations and efforts to combat illicit financial activities using digital currencies in Latin America. (Source)
