“Policy unpredictability” and “adoption of Bitcoin as legal tender” are part of the reasons why the country received a downgrade from Fitch.
Powered by WPeMatico
Category: El Salvador
Auto Added by WPeMatico
Bitcoin Lightning Network growth capacity plateaus at 3,400 BTC
The capacity of the Bitcoin Lightning Network has short-circuited over the last three months to circa 3,400 BTC capacity, after surging throughout 2021, according to Arcane Research.
Powered by WPeMatico
Does the IMF have a hidden script for El Salvador’s Bitcoin play?
What if El Salvador’s Bitcoin experiment succeeds? Is that what the IMF really fears?
Powered by WPeMatico
Central Bank of Ecuador Might Regulate Cryptocurrencies This Year
The Central Bank of Ecuador is planning to issue cryptocurrency-specific regulation later this year. According to statements from Guillermo Avellan, the manager of the Central Bank of Ecuador, this will bring more clarity to the cryptocurrency scene in the country, and will contribute to preventing crimes such as money laundering. Central Bank of Ecuador Has […]Powered by WPeMatico
Bitcoin education center launches in El Salvador to boost adoption
90% of El Salvadorans described their knowledge of Bitcoin as poor or non-existent last year despite BTC becoming legal tender.
Powered by WPeMatico
El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet
On February 2, 2022, the blockchain infrastructure provider Alphapoint has announced that the Salvadoran government has chosen the firm to operate the bitcoin wallet Chivo. The bitcoin wallet is the largest fintech application in the country and Alphapoint “supports the frontend and backend infrastructure that powers the wallet and integrates the entire ecosystem.” Alphapoint to […]Powered by WPeMatico
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
Salvadoran President Nayib Bukele Expects Bitcoin to Experience a ‘Gigantic Price Increase’
El Salvador’s president, Nayib Bukele, believes that it’s just a matter of time before bitcoin sees a “gigantic price increase.” Bukele stressed on Twitter that bitcoin is extremely scarce and there’s not enough bitcoin in the world for all today’s millionaires. Salvadoran President Says Best Time to Buy Bitcoin ‘Is When the Price Is Down’ […]Powered by WPeMatico
El Salvador president predicts ‘gigantic price increase’ for Bitcoin
There is not enough Bitcoin for global millionaires if each of them wants to own one, Bukele said.
Powered by WPeMatico
IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential Benefits
The International Monetary Fund (IMF) has told El Salvador that the costs of implementing the country’s Bitcoin law, which makes the cryptocurrency legal tender, exceed the potential benefits. The IMF has also urged El Salvador to dissolve the “Fidebitcoin” trust fund and start charging fees for services provided by the government’s Chivo digital wallet. IMF’s […]Powered by WPeMatico