The price of the U.S. dollar weakened during the first week after lifting the currency controls in Argentina, with the peso gaining ground and stabilizing at an exchange rate of 1,160 pesos per dollar. The rate, which is closer to the stronger side of the established fluctuation band, has spurred speculation about a possible intervention of the central bank to purchase dollars to maintain a weaker peso. Nonetheless, President Javier Milei stated that the bank will not act until the exchange rate falls under the 1,000 pesos per dollar mark. This is seen as a victory for Milei’s administration, as critics claimed that this move equated to a covert devaluation of the peso.
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The Brazilian justice system finalized a case against the leaders of Braiscompany, one of the largest cryptocurrency schemes ever registered in the country. According to case files obtained by local media, three individuals were found guilty of different crimes and sentenced to spend over 170 years in prison.
Gesana Rayane Silva, Joel Ferreira de Souza, and Victor Augusto Veronez de Souza were identified as part of the Braiscompany operation, each providing different services that helped obfuscate the destination of the investors’ funds.
De Souza was identified as the main operator of the scheme, operating several shell companies and managing crypto portfolios for third parties with a high yield. De Souza was found guilty of 11 charges of money laundering, receiving a sentence of 128 years, 5 months, and 28 days in prison.
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The Panama City Mayor Mayer Mizrachi announced on April 15 that the Panama District municipality will become the first in the nation to accept cryptocurrency as a form of payment for services. The decision follows a unanimous approval by the City Council.
According to Mizrachi, the new payment system will operate through an authorized bank that will handle the conversion of cryptocurrency payments into U.S. dollars for the Mayor’s Office. This mechanism aims to streamline the process and mitigate potential volatility associated with digital assets for the municipality’s finances.
“My dear City Council has unanimously approved an initiative initiated by the Mayor’s Office, which will allow all citizens to pay their obligations and taxes in crypto,” Mizrachi explained, highlighting the significance of this decision.
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