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Bitcoin will become legal tender in El Salvador alongside the U.S. dollar in seven days. The Salvadoran government has released a video explaining what to expect when the Bitcoin Law enters into force. The video features the government’s fee-free crypto wallet, Chivo. Government’s Video Explaining What to Expect When Bitcoin Becomes Legal Tender The Bitcoin … Read more
Retirees and veterans in El Salvador are worried that the government would start paying their pensions in Bitcoin instead of the U.S. dollar. Go to Source Powered by WPeMatico
The International Monetary Fund (IMF) says that crypto assets, like bitcoin, are privately issued with substantial risks, and “Making them equivalent to a national currency is an inadvisable shortcut.” The crypto community disagrees. IMF Claims Bitcoin Is Privately Issued Crypto With Substantial Risks, Inadvisable for Use as Legal Tender The International Monetary Fund tweeted about … Read more
Reduced remittance costs could prove significant in justifying El Salvador’s adoption of Bitcoin as legal tender. Go to Source Powered by WPeMatico
On August 23, the president of El Salvador spoke about the upcoming bitcoin tender law set to take effect on September 7. Salvadoran president Nayib Bukele said that bitcoin will not be mandated by force and “if they want” they can accept bitcoin and they can say “no” if they are not interested in using … Read more
According to Nayib Bukele, there will be 200 ATMs and 50 branches capable of converting Bitcoin into U.S. dollars starting on Sept. 7. Go to Source Powered by WPeMatico
El Salvador’s Banco Central de Reserva has released two documents detailing how banks should deal with Bitcoin. Go to Source Powered by WPeMatico
Fitch Ratings, the American credit agency and member of the ‘Big Three’ credit agencies, has published a paper on El Salvador’s adoption of bitcoin and making the crypto asset legal tender in the country. Fitch believes that after the country enforces the new tender law it will face “volatility risk” alongside “regulatory and operating risks” … Read more
Fitch warned that mainstreaming Bitcoin without clarity can introduce volatility and operational risks for Salvadorans. Go to Source Powered by WPeMatico
Alberto Fernandez, the president of Argentina, stated he is open to the adoption of cryptocurrencies as legal tender in an interview this week. Fernandez said there is a big discussion around the value and use of cryptocurrencies not only in Argentina but also all over the world. However, he recognized this issue should be treated … Read more
