The Bank for International Settlements and central banks are exploring the possibilities of central bank digital currencies (CBDCs) for seamless cross-border trades. Meanwhile, Brazil is tightening crypto regulations due to a surge in crypto adoption, focusing on addressing illicit activities and tax evasion. Crypto.com, PayPal, and Paxos are collaborating to broaden the reach of PayPal's stablecoin, PYUSD. The European Commission is allocating resources to study and mitigate the environmental impacts of cryptocurrencies, aligning its strategies with wider European sustainability goals. Furthermore, Buenos Aires has introduced QuarkID, a pioneering decentralized digital identity solution, highlighting a substantial step in leveraging blockchain technology for public advantage in Latin America.
