Mexico’s Financial Intelligence Unit recently published the results of its second National Risk Assessment. The report highlighted that the risk of money laundering in the banking sector far surpasses the issues encountered by fintech companies. According to El Economista, the so-called “G7 banking” group – BBVA, Santander, Citibanamex, Banorte, HSBC, Scotiabank, and Inbursa – registers significantly more money laundering in Mexico than Blockchain firms. Brokerage companies, exchange firms, and banking institutional providers are also included in the “high risk” classification given by the report. Although the fintech sector is still a possible propagator of both money laundering and the financing …

Dash has partnered with Mexican cryptocurrency exchange, Tauros.io, to release the first crypto Visa debit card in Latin America. The offer will initially only be available to Tauros’ customers in Mexico. The card will work at millions of stores in Mexico by converting crypto funds to pesos using the Tauros mobile app. It will also be capable of conducting online transactions. Speaking with Cointelegraph, Ernesto Contreras, Head of Business Development at Dash Core Group, provided more details about the new product, which is the first of its kind in the region: "The Tauros card is a first in Mexico and …

Half a dozen emerging markets have established new records for weekly peer-to-peer (P2P) Bitcoin (BTC) trading, including India, Ghana, the Philippines, Argentina, Mexico and Egypt, according to data published by Useful Tulips. India comprised the strongest market to post a new record for trade activity, with $3.4 million worth of BTC trading hands over the past seven days. India’s P2P markets began gaining significant momentum from the second quarter onwards, with Indian volume beating out its December 2017 all-time high of $2.95 million last month before consistently rallying above $3 million this month. African P2P markets continue to show strength …

Mexican users of public cloud networks report a surge in cryptojacking and ransomeware attacks in recent months. According to El Economista, almost three quarters of Mexican companies that use cloud networks including Amazon, Google and Microsoft, report security incidents resulting in negative perceptions by citizens. Less than a third of the locals fully trust cloud network security. Ransomware attacks Security weaknesses allow threat actors to deploy other crypto-related attacks like ransomware, including a recent case where an oil company, Pemex, was targeted by the DoppelPaymer gang. The report says that Mexican companies have been reporting instances where unknown cybercriminals are …

Two promoters of a major cryptocurrency exit scam, OneCoin, have been found dead in Mazatlan, Mexico. Oscar Brito Ibarra and Ignacio Ibarra, two major OneCoin promoters, were apparently kidnapped and killed in Mexico, Cointelegraph en Español reported on Tuesday. According to the report, the two men were promoting OneCoin as a payment method for a local car firm, the Latin American Automotive Marketing Company. The terrifying news was first reported by major Latin American publication, La Tercera, on Saturday. According to the report, the bodies of Brito and Ibarra were found stuffed into suitcases and dumped in a vacant lot. …

Bitso, one of the biggest cryptocurrency exchanges in Latin America, has hit 1 million users prior to its upcoming launch in Brazil. Santiago Alvarado, director of cross-border payments at Bitso, discussed the latest developments in leveraging crypto for cross-border payments in Latin America during a Unitize panel on July 8. The discussion was joined by Ripple’s director of product Craig DeWitt and Prysm Group’s Reed Cataldo. Bitso tops Argentinian market after launching in February During the panel, Alvarado revealed that Bitso reached a major milestone by hitting a one million user market last week. After topping Mexican and Argentinian crypto …

OKEx, a major global cryptocurrency exchange, is embracing the Latin American crypto market by launching a fiat gateway for three local currencies. According to a July 3 announcement, OKEx users can now buy Bitcoin (BTC) and Ether (ETH) in exchange for the Argentine peso (ARS), the Brazilian real (BRL), and the Mexican peso (MXN) via a direct bank transfer. OKEx implements Settle Network’s Latamex tool OKEx’s partnership with a company called Settle Network allowed them to enable these features. Settle Network is claimed to be the largest digital settlement network in Latin America. The new service is provided through Latamex, …

Mexico’s blockchain and financial technology, or fintech, industries have nearly doubled in size over just two years, according to data provided to Cointelegraph Espanol by blockchain-focused law firm, Legal Paradox. The firm estimates that Mexico’s fintech and blockchain sector has grown by 90% since 2018, describing the country as establishing a “benchmark” for the industry worldwide. Despite the global economic slowdown amid the coronavirus pandemic, Legal Paradox notes an increase in local adoption of distributed ledger technology, or DLT, as large traditional firms turn to blockchain solutions in a bid to reduce inefficiencies and best position themselves to survive the …

Mexican cryptocurrency exchange Bitso joined forces with the crowdfunding platform Donadora to launch a crypto-based donation system. The platform will help gather funds to buy food for the most vulnerable families affected by the COVID-19 crisis. According to a report published by El Heraldo de México on May 15, each pantry delivered will be worth 150 Mexican pesos. They will have enough food to feed families of between four and six members for a week. Donation options include both fiat currencies and various cryptos, such as Bitcoin (BTC), Ether (ETH) and XRP. Crypto donations gain popularity as a crowdfunding method …

On May 4, Alberto Aldape Barrios, director of the Center for Business Research and Development (CIDE), called on the residents of the city of Aguascalientes to be cautious with any investment opportunity in cryptocurrencies. In statements to local newspaper El Heraldo, Barrios warned of “financial speculation” aroused amid the COVID-19 crisis, so there would be high risk with investments in bitcoins (BTC), futures, options, and Forex. Bitcoin’s volatility post-COVID-19 could be dangerous The head of CIDE thought that the price of Bitcoins will leap when the pandemic is under control. Barrios said: “With cryptocurrencies, you cannot speculate because you can …

Amid declining global volume, Localbitcoins.com continues to comprise a hub for Latin American peer-to-peer (P2P) trade — with Argentina, Chile, and Venezuela posting record volume over recent weeks according to Coin.dance. This past week saw Localbitcoins trade between Bitcoin (BTC) and the Mexican peso spike by 71%. As such, the week of April 25 saw roughly $430,000 worth of BTC change hands in Mexico — comprising the fourth-strongest weekly trade activity on record. Latin markets post record volumes during April Argentinian P2P trade rallied to post a new record of more than $710,000 in weekly volume during the week of …

Major Spanish bank Santander plans to roll out its Ripple-powered international payments system One Pay FX in Mexico in 2020. In a Form 20-F filed with the United States Securities and Exchange Commission on March 6, the bank revealed that Mexico will be offering the service in early 2020. The One Pay FX system Based on Ripple’s RippleNet technology, One Pay FX is independent from XRP and does not need the digital currency to function, as a Santander spokesperson previously outlined to Cointelegraph. In its Form 20-F filing — an annual report that must be submitted to the SEC by …