Tag Archives: El Salvador

One of the big reasons why Nayib Bukele – president of El Salvador – is pushing bitcoin so much is because he thinks it will lessen remittance fees. According to a new study, the implementation of bitcoin in the Central American country could wind up costing Western Union about $400 million each year. El Salvador Could See Its Remittance System Change for the Better Jaimie Garcia, a Salvadorian who fled to Canada at the age of 11, has been living abroad for some time...

Just a few days ago, bitcoin – the world’s number one digital currency by market cap – experienced a nasty price drop that saw it fall from about $52,000 per unit to roughly $45,000 per unit. The currency is experiencing a slow period of recovery at this time given that it has only jumped back above $46K, and according to Mike Novogratz – a hedge fund manager and crypto investor – the bitcoin plunge was the result of traders simply getting too excited about what was...

El Zonte is known as “Bitcoin Beach.” Located in El Salvador, the town has developed a reputation as being one of the leading digital currency regions out there. The city worked to make bitcoin legal tender long before El Salvador ever decided that the currency would be utilized throughout the nation. El Zonte Is Helping El Salvador Push BTC Forward El Zonte has come to the aid of Nayib Bukele, the president of El Salvador, and is pushing the bitcoin agenda and ensuring...

El Salvador’s decision to accept bitcoin as a legal tender is already rattling some cages. Other small nations in the region dabble with the same idea. A recent survey from the North – specifically in the United States – showed that nearly 30% would agree to have BTC as a legal currency as well. Americans on Legalizing Bitcoin El Salvador – a small Central American nation – shocked the world in June this year when it announced it will vote to make bitcoin a legal tender...

McDonald’s restaurants in El Salvador are now accepting bitcoin payments as part of the country’s push for bitcoin acceptance. The restaurant chain within the Central American nation is working with a firm called Open Node – a bitcoin payment processing enterprise – that will allow it to accept crypto payments via the Lightning Network, a system designed to permit crypto transactions off chain. McDonald’s Will Accept Crypto for Menu Items McDonald’s currently has 19...

It goes without saying that this has been one of the most important and also exciting weeks for Bitcoin, in general. The reason for which it was important is that El Salvador officially became the very first country in the world to formally recognize Bitcoin as a legal tender. In other words, no one is currently allowed to refuse payment in BTC, and that’s the law. The reason for which it was exciting is that it was particularly volatile. On the day El Salvador made the law...

Legendary investor Mark Mobius doesn’t think much of bitcoin. He also doesn’t think much of El Salvador’s decision to make bitcoin legal tender. In a fiery new interview, he says that the Central American country is likely to stand on its own in this department, and he doesn’t see other countries following suit when it comes to digital currency. Mark Mobius on El Salvador’s BTC Decisions El Salvador first declared in June that it was going to make bitcoin legal tender....

Bitcoin is officially legal tender in El Salvador. The Central American country has been claiming for some time that it was going to declare the world’s number one digital currency by market cap the equivalent of the U.S. dollar and now that step has been taken, but unfortunately, the transition is proving to be somewhat turbulent as the nation’s regulators didn’t foresee all that could occur ahead of time. El Salvador Is Having a Rough Transition Let’s start with the...

El Salvador made history earlier this week when it became the first country to officially accept Bitcoin as a legal tender. While the community rejoiced about the significance of the news, Fidelity’s Director of Global Macro – Jurrien Timmer – said the move had been overplayed. BTC Adoption in El Salvador is Overplayed Three months after the surprising announcement that the country will adopt Bitcoin, El Salvador officially went into the history books on September 7th as it...

When Lambo? Ab 15. September: Kuba will digitale Währungen wie Bitcoin erlauben und fördern. Mit einem neuen Gesetzesentwurf der Ukraine wurde die bisher bestehende Unklarheit über die Legalität virtueller Vermögenswerte in diesem Land aufgelöst. Der ukrainische Gesetzgeber definierte Richtlinien für alle Teilnehmer des Krypto-Markts sowie rechtliche Verpflichtungen, die diesen durch den Umsatz von digitalen Vermögenswerten entstehen...