Tag Archives: El Salvador

Not too long ago, Live Bitcoin News put out an article discussing the worried attitude in El Salvador regarding the new law that would allow bitcoin to become legal tender starting next week. It appears the situation has escalated quickly, as people have gone from being concerned about volatility and business measures to straight up being anti-crypto. There are several protests going on in the Central American country, and many people are not too happy about the...

El Salvador is all set to make bitcoin legal tender by next week, and yet already the country is experiencing a lot of resistance and fear from its own people. El Salvador Is Pushing Bitcoin, But Not Everyone’s Happy In many ways, bitcoin is still a new – and struggling – technology. The world’s number one digital currency by market cap, like many of the globe’s cryptocurrencies, was initially designed to serve as a payment tool; something that would ultimately push...

The government of El Salvador voted in favor of creating a $150 million Bitcoin Trust. Its role: to convert BTC to USD so the local population can balance their cryptocurrency exposure. The initiative comes less than a week before the Latin American country starts using bitcoin as legal tender. Getting Ready for The BTC Adoption The Legislative Assembly of El Salvador will develop the cryptocurrency infrastructure by creating a $150 million Bitcoin Trust. It will facilitate...

The political situation in El Salvador is only getting worse as the day approaches when the country will start adopting Bitcoin as legal tender. On September 7 of this year, the waiting period for the Bitcoin Law to become mandatory is over. According to the text of this Law, all economic agents must accept Bitcoin along with the dollar as a means of payment. Bukele promises that the measure seeks to benefit the people and save the country close to $400 million in remittance...

El Salvador will, in ten days, adopt Bitcoin as an official currency. It’s making massive investments in projects to develop end-user products to hold and spend bitcoin. The opportunities of this venture are enormous, though some warn there are risks. El Salvadorians Will Soon Find Imports Attractive Because Bitcoin is a deflationary cryptocurrency, and the oldest blockchain with the most of its limited currency already mined, and especially given the history of the BTC price...

El Salvador was serious when it said it was making bitcoin a legal currency within its borders, and anyone who didn’t believe the nation’s regulators are likely getting a good kick in the pants right about now. El Salvador Is Moving Up the Crypto Ladder The Central American country has begun rolling out bitcoin ATMs to begin allowing individuals to trade their crypto for fiat and vice versa. Thus far, about 200 separate machines have been installed. The country is still...

Cambodia is another country that is heavily reliant on the U.S. dollar. Tired of its dependence on USD, the country has launched a centralized, bank-issued cryptocurrency, hoping that people will begin to utilize it for payment purposes, and thus far, the results have been rather positive. Cambodia Has Unveiled an Official CBDC As it turns out, El Salvador – which has been in the news quite a bit as of late – is not the only country out there that depends heavily on USD...

As previously reported, El Salvador has become the first country in history to declare bitcoin legal tender. Several financial institutions – such as the World Bank – are not too happy about the situation, but while others like Bank of America admit that there is quite a bit of risk in making bitcoin legitimate money, there are also some potential benefits that may be getting ignored. Bank of America: El Salvador May Be on a Solid Track In a recent report, Bank of...

El Salvador has opened its country to bitcoin transactions, and the news has spread like wildfire. To some, such as the World Bank, the idea of an entire nation running on BTC is risky and frightening, but to others – like senior regulators in the U.S. – El Salvador is going to need a lot of help as it leads the rest of the world towards a new digital era. El Salvador Gets Some Assistance from U.S. Lawmakers Victoria Nuland – the Under Secretary of State for Political...

Residents of El Salvador will soon be eligible to receive a $30 bitcoin gift granted they open a new “Chivo” digital wallet. El Salvador Is Giving Free BTC to Its Citizens El Salvador recently made heavy crypto headlines when it was announced that bitcoin would be legal tender within the country’s borders beginning on September 7. This came after a hard-fought battle with the World Bank, which stated that it would not offer any assistance to El Salvador given that it was...