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Category: el salvador

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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South American Countries Are Interested In Adopting Bitcoin: Who Will Be Next?

Since Bitcoin was adopted as legal currency in El Salvador, the crypto world is watching and waiting for who will be next. There could be a few South American countries to vote for legalizing crypto and paving the way for crypto infrastructure sooner rather than later. Leaders from countries including Panama, Paraguay, Mexico, Argentina, Nicaragua, […]
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CABEI Comes to El Salvador’s Rescue Amid IMF Concerns, Offers to Assist in BTC Implementation

The Central American Bank for Economic Integration (CABEI) has come forward to help El Salvador with the technicalities of Bitcoin implementation as a legal tender. Dante Mossi, the chief of CABEI said they will be select a first-rate technical team that would work with the Salvadorian government to implement the changes. Mossi said, The signal

The post CABEI Comes to El Salvador’s Rescue Amid IMF Concerns, Offers to Assist in BTC Implementation appeared first on Coingape.

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Max Keiser Suggests El Salvador to Float Bitcoin ‘Volcano Bonds’ to Retire the IMF Loans

Last week, El Salvador passed the historic Bitcoin law making it the first country to make Bitcoin a legal tender. Soon as the Bitcoin law comes into action in the next 90 days, merchants will start accepting it against their goods and services. However, the International Monetary Fund (IMF) raised objections citing legal and economic

The post Max Keiser Suggests El Salvador to Float Bitcoin ‘Volcano Bonds’ to Retire the IMF Loans appeared first on Coingape.

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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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Binance Announces BTC Bonus For New El Salvador Customers

El Salvador, the Central American nation created history after passing a bill to make Bitcoin a legal tender in the country. Nayib Bukele, the President of the country also announced that they would welcome crypto companies to set up their offices and even grant citizenship to those ready to invest three Bitcoin in the country.

The post Binance Announces BTC Bonus For New El Salvador Customers appeared first on Coingape.

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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,

The post IMF Raises Concern Over El Salvador’s Adoption of Bitcoin as Legal Tender appeared first on Coingape.

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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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