Category: Bitcoin Legal Tender
Did El Salvador Just Represent Bitcoin (BTC) at Tokyo Olympics?
Tokyo Olympics 2020 officially started on 23rd July amid Covid restrictions and after year-long delays. The key event began with a dazzling opening ceremony with 206 participating nations joining the celebrations with a parade of athletes. A South Korean broadcaster used an image to represent each country and for El Salvador, they used Bitcoin’s image.
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UN’s ECLAC not in favor of El Salvador’s Bitcoin (BTC) Legal Tender
UN’s regional commission, the Economic Commission for Latin America and the Caribbean (ECLAC) has shown apprehension on El Salvador’s Bitcoin incorporation as a Legal Tender. With this ECLAC has joined the long line of organizations that have shown discomfort with making the use of decentralized currency legal in daily routine by El Salvador. Alicia Bárcena
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World Bank Denies Any Help to El Salvador for Bitcoin (BTC) Implementation
After the IMF raised concerns about El Salvador adopting Bitcoin (BTC) as a legal tender last week, the World Bank has rejected any kind of help for Bitcoin implementation citing transparency and environmental concerns. On Wednesday, June 16, El Salvador’s Finance Minister Alejandro Zelaya said they are currently seeking technical assistance from World Bank to
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JP Morgan Compares El Salvador’s Bitcoin Adoption to Dollarization in Early 2000
JP Morgan, the American multinational investment bank reacted to the recent adoption of Bitcoin as a legal tender by El Salvador. The bank compared the Central American nation’s move to dollarization in early 2000 by various countries. It also said the move seems growth-oriented. The bank released a note titled, ‘The Bitcoinization of El Salvador’
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IMF Raises Concern Over El Salvador’s Adoption of Bitcoin as Legal Tender
International Monetary Fund (IMF) has raised concerns over El Salvador’s adoption of Bitcoin as a legal tender. It said Bitcoin poses macroeconomics, financial and legal issues. IMF’s statement comes ahead of its meeting with Salvadoran president Bukele later On Thursday. Gerry Rice, an IMF spokesman said, “Adoption of bitcoin as legal tender raises several macroeconomic,
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Top Economist Calls Bitcoin As Legal Tender “Stupid”. Here’s why he’s wrong.
Let’s not kid ourselves, a person like Steve Hanke has enormous incentives to defend the status quo. He’s benefited tremendously from it. It could be argued that his livelihood depends on Bitcoin failing. A project to make it legal tender in any country goes directly against Hanke’s interests, and it’s no wonder he spoke against […]
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El Salvador Passes the Bitcoin Law In Congress, President Nayib Bukele to Meet the IMF Soon
Latin American country El Salvador is scripting a new history today! El Salvador President Nayib Bukele recently announced that the Bitcoin Law has been officially passed in the Salvadoran Congress with a strong majority of 62 votes. The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. 62 out of 84 votes! History!
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