Bitcoin. Latin America is Booming from Cannabis and 0nline Gaming.

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Alright, so enough with the US. Let’s jump into this channel’s focus. We now fly from the US to Antigua and Barbuda in the Caribbean. Here Bitcoin proponent Calvin Ayre has been appointed economic envoy for Antigua and Barbuda. [2] Calvin Ayre is well known in that region for integrating Internet gaming with cryptocurrencies. Mr. Calvin Ayre duties will be to “advise the government on the effective implementation of new technological developments in cryptocurrency and Bitcoin.”

It’s estimated that online gaming in the region generates $37.9 billion (USD) annually. The region expects Ayre’s expertise to “re-invigorate” the gaming industry and entertainment. Ayre has done a lot of things to help the Caribbean, but to stay balanced he’s also come into certain attacks as it relates to gambling, just like anyone in the gambling industry would face. But I think his experience can bring a fresh start, direction, and opportunities for countries in this region as cryptocurrency adoption becomes really big and overly utilized in the gaming and online world.

Flying from Antigua to Uruguay, banks are afraid of touching anything tied to the marijuana industry as banks still fear ties to money laundering activities. The Uruguay Republic National Bank is urged to provide services to the cannabis businesses or let the Bitcoin industry take it over. [3] Though cannabis is legal in Uruguay, banks are afraid of touching anything tied to the marijuana industry due to global banking laws.

So, the country is trying to tell its banks to just relax and be more flexible towards growers and agricultural communities tied to the marijuana industry else they will start using Bitcoin. Hmm… So, this news may help explain why the price of Bitcoin is at $4,300 (USD) right now. So, I will keep track of how this news will turn out. In the United States, where legalization is prominent in several states, I’ve talked to businesses out here in Colorado who even say it’s hard to deal with banks.

So, it is not just Uruguay that is having the issue, and I am not sure what it’s like in California or Washington state. But what I can tell you is that what they ended up doing here in Colorado is stuff their money in the real estate and other bubble-like assets.