“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.”
The fund will greatly expand to cover all aspects of digital currency while also working with related financial institutions.
Cointelegraph traveled to El Salvador to investigate whether citizens believe its new Bitcoin Law will be beneficial to the nation's economy.
Making any cryptocurrency a national currency “is an inadvisable shortcut” to more inclusive financial services, according to two IMF officials.
Those who marched against Bitcoin this week claimed the cryptocurrency was too volatile and would allow businesses to "launder ill-gotten money."
Daily payment activity in El Salvador would represent more than 1% of the total value of BTC that has been transferred among wallets in the past year, JPMorgan experts say.
El Salvador’s decision to accept Bitcoin as legal tender in June appears to be influencing lawmakers across the region to begin exploring their own cryptocurrency strategy. Paraguay is next in line to introduce new crypto-focused legislation.
ECLAC executive secretary stressed that there is no study yet that would have investigated potential risks or benefits of El Salvador accepting BTC as legal tender.
More than half of Salvadorans surveyed don’t seem as keen as their president to adopt Bitcoin.
Here’s what crypto and blockchain experts think about Salvadoran President Nayib Bukele’s announcement that Bitcoin is now legal tender.
Victoria Nuland said the United States was taking a "tough look at Bitcoin" following a major ransomware attack and suggested El Salvador take a similar approach.
Bitcoin itself has seen very little change over time — what has changed is the dominant perception of it.
The government’s new “Chivo” Bitcoin wallet will be interoperable and commission-free.
Every Salvadoran adult who downloads the government’s Bitcoin wallet app will be eligible for an airdrop of $30 worth of BTC.
Accessing BTC is about to get a lot easier in El Salvador with the crypto ATM rollout.