El Salvador’s development bank has refused to reveal any details about the country’s purchase of bitcoins for an estimated $107 million. According to a Sunday (Oct. 30) tweet by the country’s Anti-Corruption Legal Advisory Center (ALAC), development bank BANDESAL has said that the information is...
Low-cost remittances were one of the key selling points Salvadoran President Nayib Bukele cited when announcing the law that made bitcoin a legal tender in the Central American nation a year ago. By using bitcoin transfers through the national Chivo digital wallet, Bukele said that...
Two-thirds of Salvadoran citizens consider President Nayib Bukele’s bitcoin policy a failure and more than three-quarters have never used it, German public news outlet Deutsche Welle reported this week. Less than 17% consider it a success, according to the University Institute of Public Opinion of...
In an interview this week, bitcoin payments firm Strike’s CEO said that El Salvador’s bitcoin-as-legal-tender experiment hasn’t hurt his company in any way, noting that its only involvement with the project was him giving President Nayib Bukele advice. He also said that he thought it...
September 21, 2021
El Salvador’s grand bitcoin experiment, embracing what is arguably the granddaddy of cryptocurrencies as legal tender, is one that has had its share of turbulence. In the lightning quick three months that have passed from announcement to rollout on a national stage, there have been technical glitches, bitcoin price volatility, and even protests in the […]
September 09, 2021
El Salvador’s embrace of bitcoin may be a grand experiment, marked by great expectations … or it may be a technological flop with few takers (from the public at large)....
November 23, 2022
Legislators in El Salvador are considering a bill that would regulate digital securities, a sign the Central American nation is proceeding with plans to issue bonds backed by bitcoin even as citizens turn away from the country’s crypto experiment. That’s according to a report Wednesday (Nov. 23) by CoinDesk, which said it had seen a […]
May 13, 2022
Given the unpopularity and slender use of bitcoin as a currency in El Salvador, you’d think that President Nayib Bukele’s decision to spend another $15 million of the nation’s treasury...
May 09, 2022
Tanzania is coming closer debuting a central bank digital currency (CBDC), which it hopes will compete with crypto’s popularity in that country, a report from Bloomberg said Monday (May 4)....
April 05, 2022
Two members of Congress introduced the Accountability for Cryptocurrency in El Salvador (ACES) Act to lower potential risks to the U.S. that could arise from El Salvador’s adoption of bitcoin...
