Argentina, reportedly, has the most crypto enthusiasts per capita in the world. However, it hasn't came as a result of local bureaucrats' educated insights and genuine enthusiasm towards digital economy. Instead, Banco Central de la Republica Argentina (BCRA) has been persistently issuing multiple statements warning "unsuspected" Argentinians of imminent hazards intrinsic to using crypto-currencies. The bank head repeats time and time again that virtual cash is not issued by the central bank and is not legal.He is joined by the Argentina's Financial Information Unit (FIU), which, in its communications with financial companies, constantly warns them on the risk of money laundering closely tied to crypto-transactions. If all of those out-dated rhetorics still haven't resulted in punitive actions may only be attributed to the fact that the Argentine financial authorities just have much bigger economic issues to worry about.Business Notes for Startups Founders:political climate: moderately friendly; economic climate: not friendly; regions to focus: locally, South America; industries to focus: e-commerce, fintech, entertainment, food; major limitations: high administrative barriers to SME, excessive taxation, over-bureaucratization, high unemployment rate, sluggish economy, high crime rate, growing competition from neighboring countries for South American market; stimulus: growing youth population, Internet high penetration rate (around seventy percents), developed economy. opportunities: many in mobile apps and FinTech; Cryptocurrencies and ICOs (outlook): legal (positive).The author: Svyatoslav (Svyat) Sedov Angel investor and founder of The First International Incubator for Silicon Valley Companies (FirstInternational.In) in the Bay Area, CA, USA.Twitter: https://twitter.com/SvjatoslavSedof via /r/Bitcoin http://ift.tt/2BJ9Jp0
