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MercadoLibre enters Brazil’s online pharmacy market with first drugstore acquisition

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MercadoLibre, Latin America’s largest e-commerce company, will begin selling medicines online in Brazil for the first time after acquiring a local drugstore, executives said on Thursday. The move marks the firm’s entry into one of the region’s largest and most tightly regulated pharmaceutical markets.

While MercadoLibre already operates online drug sales in Mexico, Argentina, Chile, and Colombia, Brazil’s laws require a company to own at least one licensed physical pharmacy to sell medications online. Local head Fernando Yunes confirmed the acquisition and said the company’s aim is to act as a marketplace platform rather than build a nationwide pharmacy chain.

“The pharmaceutical sector is the only one in Brazil we haven’t entered yet, and we see a big opportunity to improve access,” Yunes said. “We want small and medium-sized pharmacies selling through MercadoLibre, not to compete directly with them.”

Executives said the company will evaluate next steps based on the performance of its first pharmacy. MercadoLibre is also in discussions with Brazilian regulators to modernize existing laws that restrict online pharmaceutical trade, calling for reforms to make it easier for pharmacies to reach customers digitally.

The move signals MercadoLibre’s growing ambitions to expand its healthcare footprint in Brazil, its largest market by revenue, and tap into the country’s rapidly growing digital health sector.

Telstra Fined $12 Million for Secretly Slowing Internet Speeds of Nearly 9,000 Customers

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Australia’s largest telecommunications company, Telstra, has been ordered to pay A$18 million (about $11.9 million) after a court found it misled thousands of customers by reducing their internet speeds without informing them, the Australian Competition and Consumer Commission (ACCC) announced on Friday.

According to the ACCC, Telstra migrated 8,897 customers from its low-cost brand Belong to a plan with half the original upload speed between October and November 2020, without any notification or consent. This left users unknowingly paying for a downgraded service.

“Telstra’s failure to inform customers that their broadband service had been changed denied them the opportunity to decide whether the changed service was suitable for their needs,” said ACCC Commissioner Anna Brakey. The regulator emphasized that customers deserve transparency and control over the quality of the services they pay for.

Beyond the fine, Telstra has committed to compensating affected customers, offering A$15 credits or refunds for every month they were on the reduced-speed plan. A Telstra spokesperson told Reuters that the company accepted the court’s decision and was finalizing remediation efforts.

The ruling adds to growing regulatory scrutiny of Australia’s telecom sector, particularly after Optus—one of Telstra’s main competitors—suffered two emergency call outages last month, one of which was linked to four deaths.

On the market, Telstra shares fell 0.7% following the announcement, while the broader Australian benchmark index (.AXJO) rose 0.5%.

The case underscores how digital infrastructure providers are increasingly being held accountable for consumer transparency and service integrity, as Australia tightens oversight over its critical communications networks.

Crypto ETFs to Surge in U.S. as SEC Eases Approval Rules

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Asset managers are rushing to launch cryptocurrency exchange-traded funds (ETFs) in the United States after regulators streamlined the approval process, potentially ushering in a wave of new products tied to digital assets.

The U.S. Securities and Exchange Commission (SEC) announced updated standards for ETFs last week, a move expected to encourage demand for funds linked not just to bitcoin and ethereum but also to cryptocurrencies such as solana, XRP, and even dogecoin.

Bitcoin and ethereum ETFs were launched in 2024 under stricter rules, but the new standards lower barriers for issuers. Currently, 21 ETFs in the U.S. hold bitcoin, ethereum, or both, with dozens of new filings pending for funds tied to other coins. Analysts expect the first products under the new rules—likely ETFs tied to solana and XRP—to launch in early October.

“We’ve got about a dozen filings with the SEC now, and more coming,” said Steven McClurg, founder of Canary Capital Group. “We’re all getting ready for a wave of launches.”

The SEC’s changes eliminate the need for case-by-case reviews of each ETF application. Instead, any fund meeting preset standards can move forward automatically. Approval timelines are expected to shrink to 75 days or less, compared with up to 270 days previously.

Industry insiders say the fourth quarter of 2025 could be a breakout period for crypto ETF issuers. Grayscale Investments has already converted its private fund into a public ETF, the Grayscale CoinDesk Crypto 5, holding bitcoin, ethereum, XRP, solana, and cardano.

To qualify for approval, ETFs must meet at least one of three main criteria: the underlying cryptocurrency must either trade on a regulated market, have U.S. Commodity Futures Trading Commission-regulated futures contracts with at least six months of trading history, or already be tied to another ETF with at least 40% direct exposure to the coin.

However, questions remain about investor appetite for funds tied to lesser-known tokens. “There will be a flood of tokens that many folks have never heard of, and instead of years as with bitcoin, there will be weeks or months to provide that education,” said Kyle DaCruz of asset manager VanEck.