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A Digital Migration: How The Pandemic Has Launched Latin America into the Cryptoverse

The global pandemic has exacerbated political, social, and economic upheaval throughout the region, and this is further characterized by the rising use of technology. Latin America has the largest number of internet users per capita in the world, with cryptocurrencies offering a reliable alternative for financial transactions and social media connecting large populations in protest movements and social consciousness. At the same time, the rise of cryptocurrencies and other technology has become a mainstay in illicit enterprises. Money laundering, cartel recruitment, extortion, theft, and trafficking have gone digital. With weakened prevention and prosecution capabilities, cartels and cybercriminals can pursue criminal activity online.

In-depth and well-researched, EQF and TRM Labs present numerous recommendations for states, organizations, and institutions to develop their technical capacities for improved cybersecurity throughout the region, and point to future areas of research and monitoring in the cryptoverse and cyberspace.

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