UN commission serves new warning against BTC adoption in El Salvador
ECLAC executive secretary stressed that there is no study yet that would have investigated potential risks or benefits of El Salvador accepting BTC as legal tender. The Economic Commission for Latin America and the Caribbean, or ECLAC, a United Nations’ regional commission to encourage economic cooperation, is the latest regulator to raise concerns about El Salvador’s decision to accept Bitcoin (BTC) as legal tender.ECLAC executive secretary Alicia Bárcena has warned that El Salvador’s Bitcoin move poses a number of systemic risks as well as risks related to money laundering, local news....
Related News
Daily payment activity in El Salvador would represent more than 1% of the total value of BTC that have been transferred between wallets in the past year, JPMorgan experts say. American megabank JPMorgan has continued criticizing El Salvador’s declaration of Bitcoin (BTC) as legal tender, warning of the potential risks for both the country and the cryptocurrency.A JPMorgan expert group led by economist Steve Palacio released a report suggesting that El Salvador adopting BTC as legal tender could put strain on the Bitcoin network, Bloomberg reported Sunday.The experts said that Bitcoin is....
The reduction of the remittance cost seems to be the major reason for the adoption of Bitcoin by El Salvador. CABEI has recognized that remittances are a vital feature of El Salvador’s BTC adoption policy. Central American Countries May Adopt Bitcoin After El Salvador Recently, it was reported that the expectations of the RDB (Regional […]
Jimmy Song shares his perspective on El Salvador's adoption of bitcoin, the housing market and how fiat currencies reduce the quality of life.
As reports of a new Covid-19 strain spread, tanking the price of many cryptocurrencies, El Salvador bought the dip. The country has added 100 more bitcoins to its treasury despite a recent warning by the International Monetary Fund (IMF), bringing the total number of bitcoins purchased to 1,220. El Salvador Buys the Dip: 1,220 Bitcoins Purchased to Date El Salvador has taken advantage of the Friday sell-off and purchased 100 more bitcoins as reports of a new coronavirus variant spread. The Salvadoran president, Nayib Bukele, tweeted on Black Friday that his country has bought the dip.....
The International Monetary Fund (IMF) has warned El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a “bitcoin city” powered by a volcano and financed by bitcoin bonds. IMF Says El Salvador Shouldn’t Use Bitcoin as Legal Tender The International Monetary Fund (IMF) warned El Salvador on Monday that the country should not use bitcoin as legal tender, citing various risks associated with the cryptocurrency. El Salvador is the....