Progress Made: Bitcoin Concerns Raised In El Salvador And IMF Talks
El Salvador and the IMF have made headway in discussions to enhance state finances, raise bank reserve buffers, and improve governance and transparency, especially with regards to risks associated with Bitcoin, according to multiple news reports Wednesday. Related Reading: Bitcoin ETFs Suffer $168 Million Hemorrhage Amid Market Mayhem “Progress has been made in the negotiations […]
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The International Monetary Fund has mentioned it is providing technical assistance to the government of El Salvador in various ways. According to Gerry Rice, a spokesperson for the organization, the group is having talks with people of the Salvadoran government about tax and money laundering matters, including critical issues that the IMF raised in earlier reports.
International Monetary Fund in Talks With El Salvador
While the International Monetary Fund disagreed with the move that El Salvador made last year by declaring bitcoin as legal tender, it is still having regular talks....
JP Morgan says that El Salvador's decision to adopt Bitcoin as legal tender is of little economic benefit. JPMorgan is the latest source to respond to El Salvador’s decision to adopt Bitcoin (BTC) as legal currency within the country.In a client note tweeted by @DocumentingBTC, the United States banking giant stated that there was little economic benefit to El Salvador adopting BTC as a parallel legal tender to the U.S. dollar.JP Morgan on El Salvador adopting #Bitcoin Notice the last line... pic.twitter.com/5hl0kR9WB0— Documenting Bitcoin (@DocumentingBTC) June 11, 2021 On Thursday, El....
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....
Bitcoin adoption in El Salvador has put the country in the news in a positive light, as the world watches their progress.
El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has bought the dip again. The Salvadoran government has purchased a total of 1,120 bitcoins, currently worth more than $68 million. El Salvador’s Bitcoin Holdings Grow El Salvador has bought the dip again, taking advantage of the falling price of bitcoin on Wednesday. President Nayib Bukele tweeted: “It was a long wait, but worth it. We just bought the dip.” At the time of writing, the price of bitcoin is $61,129, down from an all-time high of almost $67,000 on Oct. 19 based on data....