World Bank Refuses to Help El Salvador Make Bitcoin Legal Tender Citing Envir...

World Bank Refuses to Help El Salvador Make Bitcoin Legal Tender Citing Envir...

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....


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World Bank refuses El Salvador's request for help on BTC transition

The World Bank has refused to support El Salvador’s request for help in the transition to use Bitcoin as legal tender. The World Bank has refused El Salvador’s request for help on the country’s transition to adopting Bitcoin as legal tender. It cited issues with Bitcoin’s environmental impact and transparency as reasons why it will not support El Salvador move to adopt Bitcoin as an officially accepted currency . "While the government did approach us for assistance on Bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings, " a World....

World Bank Refuses To Help El Salvador Implement Bitcoin, Citing “Transparenc...

Revealing misunderstandings, the World Bank has rejected El Salvador's request for assistance in implementing a bitcoin standard.

El Salvador Bitcoin Law Making BTC Legal Tender Passes With Supermajority

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....

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 […]

IMF Voices Concerns Over El Salvador Making Bitcoin Legal Tender

The International Monetary Fund (IMF) has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,” an IMF spokesperson cautioned. IMF Sees Issues With Bitcoin Being Legal Tender in El Salvador The International Monetary Fund (IMF) raised a number of economic and legal concerns Thursday regarding El Salvador making bitcoin a legal tender, with equal footing with the U.S. dollar. With the....