Bitcoin Adoption By El Salvador Will Change Central American Remittance
The reduction of the remittance cost seems to be the major reason for the adoption of Bitcoin by El Salvador. CABEI has recognized that remittances are a vital feature of El Salvador’s BTC adoption policy. Central American Countries May Adopt Bitcoin After El Salvador Recently, it was reported that the expectations of the RDB (Regional […]
Related News
Reduced remittance costs could prove significant in justifying El Salvador’s adoption of Bitcoin as legal tender. The Central American Bank for Economic Integration (CABEI) has identified remittance as an important aspect of El Salvador’s Bitcoin (BTC) adoption policy.According to Reuters on Tuesday, the regional development bank expects other Central American nations to pay close attention to Bitcoin’s impact on remittance costs in El Salvador.Speaking to Reuters, Dante Mossi, CABEI’s executive president stated that neighboring countries will be incentivized to follow El Salvador’s....
The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. “We’re very optimistic,” he said. Central American Bank for Economic Integration Supports El Salvador’s Bitcoin Law The head of the Central American Bank for Economic Integration (CABEI) expressed his support for El Salvador’s bitcoin law Monday. CABEI Executive President Dante Mossi said that the bank will give El Salvador technical assistance to implement bitcoin as....
The country had to temporarily stop accepting cash bank deposits in United States dollars due to tighter restrictions set by former U.S. President Donald Trump. The Cuban government is reportedly planning to recognize and regulate cryptocurrencies for payments.According to Aljazeera, the Caribbean nation’s central bank will establish rules for mainstreaming cryptocurrency transactions. Cuban authorities are also expected to distribute relevant licenses to businesses based on the crypto-related services they provide.Some sources claim that the move to allow cryptocurrency as a legal tender....
A number of lawmakers in Latin American countries have expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender. The countries include Paraguay, Argentina, Panama, Brazil, and Mexico. Tonga and Tanzania have also reportedly expressed interest in bitcoin. More Countries Eye Bitcoin Adoption After El Salvador passed the bill making bitcoin legal tender alongside the U.S. dollar, a growing number of lawmakers in neighboring countries have either expressed their interest in making a similar move or put laser eyes on their Twitter profile....
The big bank recently said the Central American country's move is "problematic," here's why they are wrong.