Mass adoption looms as South America’s second-largest company accepts crypto payments

On April 28, MercadoLibre (MELI), the largest Latin American online marketplace, launched a real estate section dedicated to cryptocurrencies. Although the company does not settle property transactions directly, it legitimizes the category as a payment system.  The $81 billion retailer is the second largest company in South America and is present in 18 countries, including its three largest markets, Brazil, Argentina, and Mexico. The group also owns Mercado Pago, a digital payments system for online and offline transactions, along with Mercado Envios, a logistics platform that provides fulfillment, warehousing, and…

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South Koreans File Online Petitions Seeking to Remove a Chief Regulator After Harsh Crypto Comments – Regulation Bitcoin News

As the South Korean government keeps strengthening the harsh rhetoric against cryptocurrencies, citizens have become increasingly angry due to the recent words from regulatory authorities. Over the weekend, petitions started to appear on the web, seeking the removal of the head of the country’s Financial Services Commission (FSC). Over 141,000 Signatures Collected in One Petition The presidential website is now being filed with thousands of petitions from furious people aged 20-39, seeking that Eun Sun-soo, the FSC’s chief, resign. The drop that broke the glass were the statements from Eun…

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Crypto tax in South Korea is ‘inevitable’ in 2022, says minister

Amid the growing opposition against the new cryptocurrency tax regime in South Korea, finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading starting next year. “It’s inevitable, we will need to impose taxes on gains from trading of virtual assets,” the minister said when asked whether the tax should be delayed until the state has proper industry oversight in place, Reuters reports Tuesday. Hong emphasized that cryptocurrencies like Bitcoin (BTC) will be taxed as “intangible assets”, noting that it was a “misunderstanding” to view…

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