Tags : Salvador

Regulation

El Salvador mandates Bitcoin usage via Chivo wallet…or so it

During the last day preceding the controversial Bitcoin (BTC) legislation coming into effect in El Salvador, the legal advisor to the presidency, Javier Argueta, got caught in the local media web as contradictory statements about the obligation of entrepreneurs to use the government’s official digital wallet, dubbed Chivo, flooded the headlines. As a consequence, the […]Read More

Bitcoin

Reddit community to buy $30 in Bitcoin in show of

El Salvador’s Bitcoin legal tender bill passes into law on Tuesday, September 7, despite objections from locals who appear to be against its implementation. Nonetheless, soon after the Congressional vote in June, President Bukele said the law would pass, and nothing will stop it from happening. “I don’t see this being stopped, this is going […]Read More

Bitcoin

El Salvador gets a $150 million Bitcoin Trust while BTC

El Salvador’s Legislative Assembly agreed earlier this week to create a $150 million Bitcoin Trust, intended to facilitate conversions from Bitcoin (BTC) to US dollars, while bolstering the development of crypto infrastructure and services across the country. President Nayib Bukele, who ushered in the controversial legislation in June, reassured the local populace on several occasions […]Read More

Bitcoin

Bitcoin’s (BTC) success in El Salvador could mean legalization in

El Salvador adopting Bitcoin (BTC) as a parallel legal tender to the US dollar in September could substantially lower the costs of remittances that are a vital source of income for millions. According to the region’s development bank, other Central American countries are zealously waiting to see if this happens, because if it does, they […]Read More

Regulation

200 Bitcoin ATMs installed in El Salvador ahead of legal

El Salvador began installing crypto ATMs as the country enters the last two weeks of preparation for the big day when Bitcoin (BTC) will claim its legal tender status. The Bitcoin Law, effectively ushered by President Nayib Bukele through parliament in June, will take effect on September 7. 200 Bitcoin ATMs and 50 financial branches […]Read More

Bitcoin

El Salvador to officially adopt Bitcoin as legal tender on

Payment processors that facilitate the immediate transfer of crypto into fiat currency and enable acceptance of Bitcoin (BTC) payments for e-commerce, point-of-sale, invoicing and remittance, have a finger on the pulse of the everyday economics of cryptocurrency adoption. Crypto payment gateway Triple A, summarized what El Salvador’s adoption of Bitcoin as official currency on September […]Read More

Bitcoin

After El Salvador warning, IMF says accepting Bitcoin as national

The International Monetary Fund (IMF) published a warning that putting Bitcoin (BTC) or any other crypto on par with a national currency presents serious risks to macro-financial stability. In their official blog post, written by monetary and capital markets department director Tobias Adrian and legal department head Rhoda Weeks-Brown, the IMF describes adopting cryptos as […]Read More

Bitcoin

The people of El Salvador are protesting against Bitcoin bill

President Nayib Bukele’s bill that granted Bitcoin (BTC) a legal tender status in El Salvador is yet to be enforced in September but after the country’s distrust of the new legislation became apparent through opinion surveys, Salvadorans started voicing their disapproval in the streets.  Bukele effectively pushed the law through parliament, thanks to his Nuevas […]Read More