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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
Bank of America has outlined some benefits to be had from adopting bitcoin as legal tender in El Salvador. The opportunities include low-cost remittances, financial digitization, more choices, and greater investments from foreign companies. Bank of America Highlights Opportunities Bitcoin Brings to El Salvador as Legal Tender Bank of America (BOA) outlined some potential benefits … Read more
“More than 70% of the adult population of El Salvador does not have a bank account,” reads the latest Global Research report from Bank of America. “For that reason, democratizing access to electronic payments, through Bitcoin, has a progressive touch.” Go to Source Powered by WPeMatico
The fund will greatly expand to cover all aspects of digital currency while also working with related financial institutions. Go to Source Powered by WPeMatico
Cointelegraph traveled to El Salvador to investigate whether citizens believe its new Bitcoin Law will be beneficial to the nation’s economy. Go to Source Powered by WPeMatico
Making any cryptocurrency a national currency “is an inadvisable shortcut” to more inclusive financial services, according to two IMF officials. Go to Source Powered by WPeMatico
While some Salvadorans situated near Playa El Zonte beach like the new bitcoin tender law implemented by Nayib Bukele’s regime, a number of other citizens dislike the law. This week, regional reports show citizens from El Salvador have taken to the streets to protest the bitcoin tender law. Salvadoran Protestors Say Bitcoin Is ‘Too Volatile’ … Read more
Those who marched against Bitcoin this week claimed the cryptocurrency was too volatile and would allow businesses to “launder ill-gotten money.” Go to Source Powered by WPeMatico
