El Salvador’s Bitcoin detractors: Opposition mounts despite crypto rollout
Resistance against El Salvador’s move to make Bitcoin a legal tender persists even as the law comes into effect. The year 2021 will probably go down the history books as one of Bitcoin’s (BTC) most interesting years, given its recent uptake by billionaires and adoption by mainstream institutions, not to mention El Salvador’s move to make it legal tender. In El Salvador’s case, it almost seems as if the whole world is watching this experiment to see whether it will be a success or a total failure for the Central American nation.With Sept. 7 marking the official implementation of Bitcoin as....
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El Salvador is the first country in the world to recognize Bitcoin as legal tender. Despite opposition from local groups, the government believes cryptocurrency will be a net positive for the economy and society. El Salvador president Nayib Bukele confirmed Monday that his government has purchased its first 200 Bitcoin (BTC) ahead of the Sept. 7 rollout of a new law set to make the cryptocurrency legal tender. “Our brokers will be buying a lot more as the deadline approaches,” Bukele said, referring to the Sept. 7 timetable for fully implementing the new BTC legislation. El Salvador has....
A pair of high-ranking officials in El Salvador’s ruling party, Nuevas Ideas, took aim at critics who stand in opposition to the country’s forthcoming Bitcoin legal tender law on Tuesday.
El Salvador’s state Bitcoin wallet has continued facing major issues in a week after the official rollout. Just a week after Bitcoin (BTC) became legal tender in El Salvador, President Nayib Bukele has admitted that the rollout of the state Bitcoin wallet was too much of a challenge.Chivo, El Salvador’s official Bitcoin wallet, has temporarily disabled new registrations and halted app downloads for new smartphone models due to ongoing issues with the app, Bukele said on Twitter late Monday.“Both things will be enabled until the application has no errors,” the president noted, adding that....
Privacy advocates and Salvadorans discuss the rollout of El Salvador’s Bitcoin law, government wallet and more.
Thanks to El Salvador’s daring move, digital money looms large on global policymakers’ radars. On Sept. 7, in a historic first, the small Central American nation of El Salvador adopted Bitcoin as legal tender.The true significance of this day for how people all around the world exchange value and what meaning they ascribe to the concept of money will take quite some time to reify and be fully understood. Yet, what is already clear is that September 2021 will be up there next to January 2009 in the history books of the digitization of finance.Surrounded by controversy, protests, bumpy....