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$BTC Weekly Latin America Crypto Insights Latam Insights highlights key crypto developments in Latin America, including a hacking incident involving Paraguay's President Santiago Peña, Brazil's tax reforms on cryptocurrencies, and a significant decline in crypto remittances in El Salvador. In Paraguay, a misleading social media post claimed bitcoin was made legal tender, but it was quickly debunked. Meanwhile, Brazil's government introduced a flat 17.5% income tax on crypto transactions, eliminating previous exemptions and broadening the tax base. El Salvador experienced a 44.5% drop in crypto remittances during Q1 2025, receiving only $16 million compared to $28.83 million in 2024, as traditional financial institutions continue to dominate the market despite higher fees. These incidents reflect the ongoing challenges and evolving landscape of cryptocurrency in the region.
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#TrumpBTCTreasury Trump Media's Bitcoin Treasury Deal and Expansion Plans Trump Media and Technology Group (TMTG), owner of Truth Social, has received SEC approval for a $2.3 billion Bitcoin treasury deal, registering the resale of 56 million shares and 29 million tied to convertible notes. CEO Devin Nunes stated the company is aggressively expanding its social media, TV streaming, and fintech offerings while establishing a Bitcoin treasury. TMTG also filed to launch a Bitcoin ETF. Despite these developments, TMTG's stock price fell 2.06% on June 13, closing at $19.52. Nunes emphasized Bitcoin as a key asset for financial freedom.
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