Law Decoded: The aftermath of El Salvador's pioneering move, Sept. 6-13
Cointelegraph's law & policy newsletter is back with a discussion of El Salvador's effects, Coinbase's woes, and the digital euro's prospects. Too much is happening in the realm of crypto policy and regulation to leave the biggest developments of each week without a roundup and at least some conceptual reflection. Starting today, we are getting back to decoding crypto law and everything around it that is worth decoding.Who’s next to follow El Salvador?Eyeballs galore will be pinned to the great Salvadoran experiment from now on. People with PhDs in economics and applied statistics within....
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The end of the U.S. federal government's fiscal year brought a cascade of major announcements from agencies. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.Editor's noteIn a tweet late last night, President Trump said that he and Melania had tested positive for COVID-19. If you weren’t already aware of that, you may want to catch up on a deluge of wishes for life and death, alongside speculation as to Trump’s announcement being a hoax, before sitting down to this week’s Law Decoded. Or possibly not.Every week leading....
Bitcoin will become legal tender in El Salvador on Tuesday, Sept. 7. The Salvadoran government has started buying bitcoin ahead of the law taking effect. The first 200 coins have been purchased and “a lot more” are coming, said President Nayib Bukele.
El Salvador Begins Mass Buying Bitcoin Ahead of Bitcoin Becoming Legal Tender
El Salvador’s President, Nayib Bukele, announced Monday: “El Salvador has just bought its first 200 coins. Our brokers will be buying a lot more as the deadline approaches.” At the current BTC price of $51,691, the 200....
Bitcoin ATM provider Chainbytes is setting up a bitcoin ATM manufacturing hub in El Salvador. The move follows the country passing a bill making bitcoin legal tender. The company plans to make El Salvador “the manufacturing hub of bitcoin ATMs for all of the Americas.” Bitcoin ATMs Coming to El Salvador U.S.-headquartered Chainbytes LLC, a bitcoin ATM provider, announced Tuesday that it is launching operations in El Salvador, the country which recently passed a bill making bitcoin legal tender. Chainbytes revealed that it plans “to make El Salvador the manufacturing hub....
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....
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....