Tag Archives: El Salvador

The number of bitcoin automated teller machines (ATMs) has surged in accordance with the development of the cryptocurrency industry. The first such machine saw the light of day in October 2013. Needless to say, the industry has expanded by leaps and bounds since then, propelling massive interest and, in turn, more ATMs.  Currently, there are 39,678 such devices spread across 84 countries, with over 85% located in the United States of America. An Overlook of the Map...

Satoshi Nakamoto was last active on the popular and veteran bitcointalk forum on this date 13 years ago. Nakamoto did not want to be a “mysterious shadowy figure.” Instead, the creator of the world’s largest crypto-asset wanted to focus on the open-source project and give more credit to the dev contributors. Source: Bitcointalk“More Work To Do” Over a decade later, the identity of Satoshi Nakamoto continues to be an unsolved mystery. The Bitcoin creator contributed...

A rumor was swirling around online that the nation of El Salvador in Central America had tons of bitcoin locked away in the FTX exchange, which has now filed for chapter 11 bankruptcy. However, many industry heads – including Changpeng Zhao of Binance, the company that at one point was likely to purchase FTX and save it from its present string of problems – are saying this is not true, and that the country is not in any danger. El Salvador Says It’s Not Tied to the Failed Exchange El...

El Salvador became the first country in the world to adopt Bitcoin as a legal tender. Fast forward to this year, the crisis worsened in the already battered crypto industry. But President Nayib Bukele plans on doubling down further. After pledging that the government would purchase one Bitcoin every day going forward, despite the meltdown, the Bukele administration sent a bill to El Salvador’s Congress to enable it to sell $1 billion in “volcano bonds” – government debt,...

Bandesal – a traditional bank in the nation of El Salvador – is refusing to discuss with reporters how the country is spending its bitcoin funds. It will not provide any data regarding how the country is maintaining its bitcoin purchases, nor will it say where the money is going or how it’s being stored, claiming that data is “confidential.” Bandesal in El Salvador Is Staying Quiet The Anti-Corruption Legal Advisory Center (ALAC) is condemning the bank and El Salvador for not being...

El Salvador in Central America is joining hands with the Swiss city of Lugano in the name of bitcoin. Both areas have vowed to push bitcoin education and adoption in their regions and see about implementing bitcoin use tools in neighboring countries. El Salvador and Switzerland Are Working Together Both regions have proven to be major bitcoin advocates in recent years. El Salvador initially made bitcoin legal tender in September of last year. The country initially experienced heavy...

According to a new survey, many residents of El Salvador consider the bitcoin experiment implemented by their country’s leaders a failure. El Salvador and Bitcoin… Will They Break Up? The poll was conducted by the University of Central America. Roughly 75 percent of the survey participants said they have not used any cryptocurrency throughout 2022. A total of 77 percent of the participants flat out said that they don’t feel implementing bitcoin as legal tender was a...

El Salvador’s government doubled down on its crypto initiatives by creating a National Bitcoin Office (ONBTC) that will oversee all local projects related to the asset. The new agency will also be able to cooperate with other countries in matters associated with BTC. Enter ONBTC Despite the prolonged bear market, El Salvador’s authorities seem determined to advance their bitcoin strategy. According to a recent LinkedIn post, the government created a National Bitcoin Office...

Australia has made a specific taxation decision when it comes to crypto assets, and members of the industry and active traders are not happy about it. Australia May Have Made a Severe Choice Regarding Crypto Not long ago, Australia announced that for tax purposes, it would continue to treat digital currencies as physical assets rather than foreign currency. The government of Australia is now set to introduce full legislation cementing the decision. What does this mean?...

The government of El Salvador presented a bill that could set comprehensive rules on the local crypto sector and regulate the operations of all digital asset providers in the country. The ruling body is also one step closer to issuing blockchain bonds that could aid the development of certain BTC endeavors in the Central American nation. The bear market has not changed the pro-bitcoin stance of President Nayib Bukele. He disclosed last week that El Salvador will purchase one...