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Bitcoin ATMs coming to El Salvador, with Chainbytes Launching Manufacturing Hub

Bitcoin ATMs coming to El Salvador, with Chainbytes Launching Manufacturing Hub

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Bitcoin ATM provider Chainbytes is setting up a bitcoin ATM manufacturing hub in El Salvador. The move follows the country passing a bill making bitcoin legal tender. The company plans to make El Salvador “the manufacturing hub of bitcoin ATMs for all of the Americas.”

Bitcoin ATMs Coming to El Salvador

U.S.-headquartered Chainbytes LLC, a bitcoin ATM provider, announced Tuesday that it is launching operations in El Salvador, the country which recently passed a bill making bitcoin legal tender.

Chainbytes revealed that it plans “to make El Salvador the manufacturing hub of bitcoin ATMs for all of the Americas.” The hub will service the company’s “operations in the LATAM, US, and Canadian regions with the global supply chain distribution.” The company has been servicing bitcoin ATM operators and enterprises looking to get into the bitcoin ATM business since 2012.

Eric Grill, the CEO of Chainbytes, tweeted on June 21, “Excited to bring Chainbytes bitcoin ATMs” to El Salvador.

Chainbytes Bringing Bitcoin ATMs to El Salvador, Launching Manufacturing Hub

On June 17, Chainbytes tweeted: “Our bitcoin ATMs ready to ship out to El Salvador.”

Chainbytes Bringing Bitcoin ATMs to El Salvador, Launching Manufacturing Hub

Grill recently praised El Salvador for “showing leadership to the world in implementing bitcoin as a legal currency.” The CEO opined, “We believe in doing so the country is positioning itself to be more of a technology hub,” adding that his company “wants to be a part of helping that succeed.” Grill continued:

Our initiative will provide the training and skilled jobs needed for all Salvadorans, which will, in turn, contribute to the economy and the nation.

Tuesday’s announcement states that “Chainbytes will provide services to Salvadorans looking to operate bitcoin ATMs in the country and collaborate with their government, legal entities, and partnerships to ensure the manufacturing hub succeeds and brings prosperity to the country.”

Tracy Jefferson, the company’s COO, explained that El Salvador “has free trade zones and service parks that will encourage more businesses to operate here.” Moreover, she noted that “with the sea and air hubs in place, it makes sense for us to produce machines here for not only Salvadorans but to export throughout North and South America.”

Source Credits: Bitcoin.com

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The potential Bitcoin investment aligns with GameStop’s previous forays into the crypto space, including its NFT marketplace and blockchain gaming initiatives. However, the company has not yet committed to a specific timeline or amount for Bitcoin purchases.

Industry analysts suggest that if GameStop proceeds with Bitcoin acquisitions, it could follow in the footsteps of other publicly traded companies, such as MicroStrategy, that have adopted Bitcoin as a reserve asset. The decision could also serve as a signal to retail and institutional investors about GameStop’s long-term outlook on digital assets.

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Atkins, who served at the SEC from 2002 to 2008, has been a vocal advocate for regulatory clarity in financial markets, including the cryptocurrency sector. However, lawmakers and regulators are now examining whether proper disclosures were made regarding financial assets linked to his wife.

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As the hearing unfolds, industry observers are closely watching for potential implications on SEC policies and oversight practices. The outcome could influence future regulatory discussions, particularly in areas where financial disclosures intersect with policymaking in traditional and digital asset markets.

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Brazil’s data watchdog upholds ban on World crypto payments

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The regulatory focus comes as crypto payments gain mainstream adoption in Brazil, with businesses and consumers increasingly using digital assets for everyday transactions. Authorities aim to ensure that companies handling crypto payments comply with data protection laws, safeguarding user information against misuse and security breaches.

This initiative follows global regulatory efforts to address concerns over illicit financial activities and privacy risks associated with digital currencies. While Brazil has been a leader in Latin America’s crypto adoption, regulators are working to balance innovation with consumer protection.

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