The Office of the U.S. Trade Representative determined that Brazil's Pix instant payment system and other policies are actionable under Section 301(b) of the Trade Act, while Chilean authorities arrested 18 individuals in an $88 million cryptocurrency laundering operation linked to the Tren de Aragua gang, and Brazilian agricultural company Adecoagro announced a sugarcane-powered bitcoin mining project backed by Tether. The USTR report claims Pix burdens U.S. commerce by imposing costs on American services providers, the Chilean operation followed a two-year investigation into laundering schemes, and Adecoagro's initiative aims to validate clean energy applications for bitcoin mining. These developments reflect escalating U.S.-Brazil trade tensions, intensified regional anti-money laundering enforcement, and growing interest in sustainable cryptocurrency mining infrastructure across Latin America.
USTR Determines Brazil's Pix Payment System Actionable Under Section 301 Trade Act
Pix, Brazil's flagship instant payment system, appeared in the recent report from the Office of the U.S. Trade Representative (USTR). The report determined that, alongside other alleged causes including preferential tariffs, anti-corruption enforcement, intellectual property protection, ethanol market access, and illegal deforestation, Pix burdens or restricts U.S. commerce, and the policies behind its establishment are "actionable under Section 301(b) of the Trade Act."
On the "Notice of Determination and Request for Comments Concerning Action Pursuant to Section 301," the USTR claims that "the acts, policies, and practices of Brazil related to its preferential treatment of Pix are a burden or restriction on U.S. commerce by imposing costs on U.S. services providers and by forcing U.S. providers to promote their Brazilian competitor, without compensation."
Chilean Authorities Arrest 18 Individuals in $88M Tren de Aragua Crypto Laundering Operation
A two-year investigation resulted in the arrest of 18 individuals who operated a scheme that included crypto assets to launder the proceeds of illicit activities for the Venezuelan Tren de Aragua gang in Chile. The operation, executed on Tuesday by the Chilean police and the Southern Prosecutor's Office, was carried out in three regions of the country and uncovered a complex network of bank accounts, irregular companies, and cryptocurrency remittances. The operation is estimated to have processed $88 million.
Juan Carlos Pérez Asencio, a Venezuelan national who served as Banco Santander's recovery executive since 2019, played an important role in providing the group's tools to effectively carry out its operation.
Adecoagro Announces Sugarcane-Powered Bitcoin Mining Project in Brazil
Adecoagro, one of the largest agricultural companies in Latin America, announced a new project that seeks to combine one of its trademark crops with the rise of the data center wave. The company, which manages over 500k hectares of land in Brazil, Argentina, and other countries in Latin America, is launching a project to power a bitcoin mining farm with energy obtained from sugarcane.
According to local media, Matheus Lechuga, project manager at Adecoagro, presented this initiative as part of the "Roots of the Future" agenda, demonstrating the company's future operations in Mato Grosso do Sul. He stated: "Our data center project aims to validate our entire structure and try to apply new technological developments. Today, the project focuses on a structure geared towards Bitcoin mining, using clean energy from sugarcane."
FAQ
What did the USTR determine about Brazil's Pix payment system?
The Office of the U.S. Trade Representative determined that Brazil's Pix instant payment system and the policies behind its establishment are actionable under Section 301(b) of the Trade Act. The USTR claims that the acts, policies, and practices of Brazil related to its preferential treatment of Pix are a burden or restriction on U.S. commerce by imposing costs on U.S. services providers and by forcing U.S. providers to promote their Brazilian competitor, without compensation.
How much money did the Chilean crypto laundering operation process?
The Chilean operation involving 18 arrested individuals linked to the Venezuelan Tren de Aragua gang is estimated to have processed $88 million. The two-year investigation uncovered a complex network of bank accounts, irregular companies, and cryptocurrency remittances used to launder the proceeds of illicit activities.
What is Adecoagro's sugarcane bitcoin mining project?
Adecoagro announced a project to power a bitcoin mining farm with energy obtained from sugarcane. The company, which manages over 500k hectares of land in Brazil, Argentina, and other Latin American countries, presented this initiative as part of the "Roots of the Future" agenda demonstrating future operations in Mato Grosso do Sul. Project manager Matheus Lechuga stated the project aims to validate the company's structure and apply new technological developments using clean energy from sugarcane.
