Since It Adopted Bitcoin As Legal Tender, The World Is Looking At El Salvador
According to all metrics, El Salvador is all the rage right now. When the government announced that their citizens and all economic actors are legally allowed to use Bitcoin as legal tender, headlines all over the world reported on the news. But interest in the country is growing steadily since, from articles and features in […]
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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....
The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender. The bank cited bitcoin’s “environmental and transparency shortcomings” as the reason. World Bank Won’t Help El Salvador With Bitcoin Law The World Bank said on Wednesday it cannot help El Salvador implement the law making bitcoin legal tender. A World Bank spokesperson told Reuters, “We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes,” elaborating: While the government did....
The bitcoin price plunged $10,000 from recent highs as El Salvador officially adopted BTC as legal tender.
The Bitcoin price crossed $50,000 on Tuesday morning, almost one month after El Salvador adopted it as legal tender.
The bill to make bitcoin legal tender in El Salvador has been approved by a supermajority in the Salvadoran Congress. “The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out,” the bill describes. Bill to Make Bitcoin Legal Tender Approved by Congress in El Salvador The bill to make bitcoin legal tender has passed Congress in El Salvador. President Nayib Bukele announced via Twitter early Wednesday morning: “The....