El Salvador says merchants must process BTC transactions — or they may face a...
A Salvadoran government official has said that while businesses must accept BTC transactions, they can choose whether to receive BTC or USD upon settling transactions. In an interview with local media, Javier Argueta, the legal counsel to the Presidential House of El Salvador, clarified the obligations of businesses the day before the country’s controversial Bitcoin Law recognizing BTC as legal tender took effect.The legal counsel to the President of El Salvador has stated that businesses are mandated to accept Bitcoin from customers — but they are able to choose whether or not they will....
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Bancoagrícola will work with Flexa to accept Bitcoin across the bank’s network for payments like loans and credit cards. Bancoagrícola, El Salvador’s largest financial institution, is set to boost the country’s Bitcoin adoption policy following its partnership with digital payments gateway Flexa.According to an announcement by Flexa on Thursday, Bancoagrícola has inked a deal with the crypto payment network to enable Bitcoin (BTC) transfers for the bank’s customers including retail and merchant clients.As part of the partnership, Bancoagrícola customers can make credit card payments....
Chivo Bitcoin wallet was taken down for five hours for maintenance after users reported various issues with the application. El Salvador’s Bitcoin (BTC) adoption drive met its first roadblock after citizens reported problems downloading and operating the state-run Chivo wallet. While the wallet was taken down soon after it went live, Salvadoran President Nayib Bukele later announced that all the issues related to the BTC wallet have been fixed. He tweeted: “We have finished today’s maintenance of Chivo wallet. Report any malfunction here, in the comments.”Soon after El Salvador’s....
It has been one year since Bitcoin became legal tender in El Salvador. Crypto adoption has not been without issues in El Salvador, but it’s difficult to weed through the different stories about Bitcoin because there are so many competing interests promoting or FUDing Bitcoin. This article will filter through the nonsense and describe how Bitcoin in El Salvador has panned out one year after it became legal tender. Why El Salvador Made Bitcoin Legal Tender El Salvador made Bitcoin legal tender ostensibly for a few reasons. The government cited the following reasons: A significant portion of....
Fidelity's Jurrien Timmer believes that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.” El Salvador’s adoption of Bitcoin (BTC) as legal tender is widely celebrated across the crypto ecosystem, but one expert believes the importance of the rollout was a little bit exaggerated.Speaking to CNBC, Fidelity Investments director Jurrien Timmer said that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.”“Because it’s not like El Salvador has dropped the U.S. dollar as its peg,” Timmer explained. “It’s not like it switched from dollars as its....
In what could be called a bold business move, digital currency payment processor SNAPCARD is aiming to transform San Francisco into a bitcoin city by supplying five hundred merchants with so-called merchant promotional packages that include: Free Android tablet with SNAPCARD POS (point of sale) merchant application. Official bitcoin stickers, table tent, window vinyl. Free marketing to 100,000 digital currency users. Said merchants will be able to process bitcoin transactions using the Android tablet with 0% transaction fees forever. The way it works is interested merchants can sign up for....