El Salvador

Camarasal Poll Shows Entrepreneurs Are Worried About Bitcoin Law in El Salvador

<div class=”featured_image_container”> </div> <strong>Camarasal, a well known entrepreneur association in El Salvador, announced the results of a poll made this month. The poll shows almost 100% of Salvadorans worry about the implementation of the bitcoin tender law approved recently. Most criticize the obligatory character of receiving bitcoin payments and don’t expect this move to bring …

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World Bank refuses El Salvador’s request for help on BTC transition

The World Bank has refused El Salvador’s request for help on the country’s transition to adopting Bitcoin as legal tender. It cited issues with Bitcoin’s environmental impact and transparency as reasons why it will not support El Salvador move to adopt Bitcoin as an officially accepted currency . “While the government did approach us for …

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Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender

<div class=”featured_image_container”> </div> <strong>The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. “We’re very optimistic,” he said.</strong> Central American Bank for Economic Integration Supports El Salvador’s Bitcoin Law The head of the Central American Bank …

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Steve Hanke warns BTC could ‘completely collapse the economy’ of El Salvador

Steve Hanke, a professor of applied economics at Johns Hopkins University, has warned that El Salvador’s recent adoption of Bitcoin (BTC) as legal tender has the potential to “completely collapse the economy.” Steve Hanke served as a senior economist under President Ronald Reagan administration from 1981 to 1982. Hanke has previously described BTC as a …

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Tanzanian President Wants Central Bank Chiefs to ‘Prepare for Cryptocurrency’

<div class=”featured_image_container”> </div> <strong>Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies. She also urged the country’s central bank to begin the necessary preparations for a step-change in global attitudes towards banking.</strong> However, in her address of the Tanzanian finance chiefs, Hassan acknowledges …

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Latin American Countries Eye Bitcoin Adoption After El Salvador Passed Bitcoin Law

<div class=”featured_image_container”> </div> <strong>A number of lawmakers in Latin American countries have expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender. The countries include Paraguay, Argentina, Panama, Brazil, and Mexico. Tonga and Tanzania have also reportedly expressed interest in bitcoin.</strong> More Countries Eye Bitcoin Adoption After El Salvador …

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Bitcoin Remittances to El Salvador Surge 300% Ahead of BTC Becoming Legal Tender

<div class=”featured_image_container”> </div> <strong>Bitcoin remittances to El Salvador jumped more than fourfold in May from the previous year, according to data from blockchain analytics firm Chainalysis. Last week, El Salvador passed a bill making bitcoin legal tender in the country alongside the U.S. dollar.</strong> The monthly bitcoin transfers of under $1,000 to El Salvador totaled …

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Remittance firms hesitant to support BTC despite legal tender law in El Salvador

Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin and other crypto assets until prompted to do so by customer demand, likely creating a …

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Bitcoinization: JPMorgan Notes ‘Similarly Situated’ Countries Could Make Bitcoin Legal Tender Like El Salvador

<div class=”featured_image_container”> </div> <strong>JPMorgan struggles to “see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” Commenting on El Salvador’s bitcoinization, JPMorgan did not rule out that the country’s move to make the cryptocurrency legal tender may be “the beginning of a broader trend among similarly situated, smaller nations.”</strong> …

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Adopting the Bitcoin standard? El Salvador writes itself into history books

The cryptocurrency space and wider economic community continue to laud a historic move by El Salvador to recognize Bitcoin as legal tender. The Central American country has become the first in the world to do so, and the move has also spurred a handful of other Central and South American countries to begin taking steps …

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