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Tether abandoned a roughly $120 million Bitcoin mining investment in Uruguay after a dispute with the state power company escalated into unpaid bills, an electricity cutoff and layoffs, according to…
Tether, one of the largest cryptocurrency companies, has finally confirmed its exit from Uruguay after a breakdown in its negotiations with UTE, the national power company. The local press reported…
Exodus acquires Uruguay-based Grateful to expand stablecoin merchant services and faster, lower-cost payouts. Exodus Movement, Inc. (NYSE American: EXOD) announces the acquisition of Grateful, a Montevideo-founded stablecoin payments orchestrator that…
While local reports said the company was leaving Uruguay, Tether denied those claims, saying it remains in talks to continue its mining operations. The company said it is evaluating its…
Tether is in the early stages of winding down its mining operations in Uruguay due to high energy costs. Tether had been negotiating new tariffs with UTE, the state‑owned power…
Local reports say the power company cut power to Tether’s operation on July 25 amid a renegotiation of Uruguay’s power tariffs. In June, the company signed an MoU conditioned on…
Uruguay is in the initial stages of studying the implementation of a digital currency as part of a restructuring process. Adolfo Sarmiento, the former manager of economic policy and markets,…
The Central Bank of Uruguay has hinted at the possibility of declaring bitcoin a “non-financial virtual asset,” potentially securing an easier compliance path for virtual asset service providers. Stablecoins, on…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, El Salvador’s President Nayib Bukele meets with President…
Proposed over two years ago, the law recognizes cryptocurrency as virtual assets in the country, establishing the Central Bank of Uruguay as the regulator and overseer of companies seeking to…