Three U.S. Senators proposed a bill which would commission a lengthy report detailing the inner workings of El Salvador’s Bitcoin Law and a subsequent action plan to mitigate risk.
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Category: Bitcoin Law
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El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender
El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says No to IMF on Bitcoin The government of El Salvador has rejected a recommendation […]Powered by WPeMatico
El Salvador removes BTC price feed from Chivo app to crack down on arbitrage scalpers
Users of the Salvadoran government’s Chivo wallet will not be able to see frozen price quotes until the feature has been removed to deter arbitrage scalpers.
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Bitcoin Will Become Currency in Brazil Soon, According to Federal Deputy Aureo Ribeiro
Aureo Ribeiro, a federal deputy in Brazil, stated that bitcoin might become a recognized currency in Brazil soon, during an interview with local media. The politician stated that Brazilians may be able to purchase houses, cars, and even fast food at McDonald’s with cryptocurrency in the near future. Bill 2.303/15, which regulates cryptocurrencies, might approve […]Powered by WPeMatico
Salvadoran Court of Accounts to Investigate Government’s Bitcoin ATM Buys, Chivo Kiosk Construction
According to reports stemming from the Salvadoran Court of Accounts, the regulatory body is planning to investigate the government’s bitcoin automated teller machine (ATM) purchases and Chivo kiosk construction. The investigation follows the recent protest in El Salvador against the adoption of bitcoin as the crowd set fire to a bitcoin ATM. Human Rights Group […]Powered by WPeMatico
El Salvador’s credit rating could take hit amid Bitcoin adoption warns S&P Global
S&P Global believes El Salvador’s recognition of Bitcoin as legal tender has brought “immediate negative implications” for its credit rating.
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Report Says Western Union Could Lose $400M if El Salvador’s Chivo Bitcoin Wallet Gains Traction, Tim Berners-Lee Weighs In
The Republic of El Salvador has made many headlines this week as the country adopted bitcoin as legal tender on Tuesday and became the first-known nation-state to purchase the leading crypto asset. A recent report details that remittance providers like Moneygram and Western Union could lose up to $400 million annually if the Chivo wallet […]Powered by WPeMatico
El Salvador’s bonds suffer as Bitcoin Law takes effect
Bond investors appear to be betting against El Salvador’s controversial Bitcoin Law, but other factors need to be taken into account.
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Salvadoran Government’s Chivo Wallet Experiences Hiccups, Some Residents Can’t Claim $30 BTC Reward
On the day El Salvador implemented the bitcoin tender law, the official government wallet called the Chivo wallet had some initial issues for five hours on Tuesday. Residents could not leverage the application and had issues accessing the app on Apple’s App Store and Google Play. The situation seems to be resolved now as Salvadoran […]Powered by WPeMatico
El Salvador says merchants must process BTC transactions — or they may face action
A Salvadoran government official has said that while businesses must accept BTC transactions, they can choose whether to receive BTC or USD upon settling transactions.
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