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It’s a big day for El Salvador this Tuesday, as the country’s new legal tender law will be enforced. A great number of bitcoin supporters have plans to purchase $30 worth of bitcoin to show support for the upcoming implementation of the bitcoin tender law. The $30 increment was conceived because Salvadoran president Nayib Bukele … Read more
A vocal critic of the upcoming bitcoin law in El Salvador, Mario Gomez, was briefly detained Wednesday. According to reports, he was arrested without a warrant. Critic of El Salvador’s Bitcoin Law Arrested An IT specialist and founder of Hackerspace San Salvador, Mario Gómez, was briefly detained Wednesday morning. His attorney said there was never … Read more
$655 million in BTC options expire on Sept. 3, and data suggests bulls may be motivated to break the $50,000 resistance prior to the expiry. Go to Source Powered by WPeMatico
The National Civil Police later released a statement saying Mario Gómez’s detainment was related to an investigation for financial fraud. Go to Source Powered by WPeMatico
El Salvador’s government has set aside $23.3 million toward rolling out crypto ATMs and $30 million to incentivize use of the state-backed “Chivo” wallet. Go to Source Powered by WPeMatico
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