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El Salvador purchased 150 more Bitcoin today as it looks to add to its existing Bitcoin coffers, President Nayib Bukele confirmed in a tweet today.
Standard & Poor (S&P) warned that El Salvador’s adoption of Bitcoin as legal tender might negatively affect its credit rating.
It’s coming up to a week and a half since El Salvador passed the Bitcoin law, making it legal tender in the country.
Against the wishes of the IMF and World Bank, El Salvador did the unthinkable by making Bitcoin legal tender on September 7 – a move that has irked a proportion of its citizens, primarily due to the perception that it’s not for ordinary everyday people.
In a move aimed towards attracting investors, authorities in El Salvador are reportedly set to exempt them from all forms of capital gains and income tax related to Bitcoin.
El Salvador made history on Tuesday as the Bitcoin Law came into effect, sanctioning the leading cryptocurrency as legal tender in the Central American country.
El Salvador’s proprietary ‘Chivo’ Bitcoin wallet officially launched earlier this week, but users have already been struggling with bugs within the app’s interface.
During the last day preceding the controversial Bitcoin (BTC) legislation coming into effect in El Salvador, the legal advisor to the presidency, Javier Argueta, got caught in the local media web as contradictory statements about the obligation of entrepreneurs to use the government’s official digital wallet, dubbed Chivo, flooded the headlines.
El Salvador’s Bitcoin legal tender bill passes into law on Tuesday, September 7, despite objections from locals who appear to be against its implementation.
El Salvador’s President Nayib Bukele has revealed that the Central American country has successfully purchased 200 units of Bitcoin in a tweet on Monday.
According to the latest survey from the University Institute of Public Opinion, 7 out of 10 Salvadorans want their political representatives to repeal the newly instated Bitcoin law.
El Salvador’s Legislative Assembly agreed earlier this week to create a $150 million Bitcoin Trust, intended to facilitate conversions from Bitcoin (BTC) to US dollars, while bolstering the development of crypto infrastructure and services across the country.
Bitcoin (BTC), the world’s largest cryptocurrency, is getting adopted as a legal tender in El Salvador in eight days but as the Central American country goes through its final days of preparation, being eagerly observed by other countries, some of which are considering to follow in its footsteps, the International Monetary Fund (IMF) refreshes its […]
The citizens of El Salvador took to the streets to protest the adoption of the country’s new Bitcoin law on Friday.
El Salvador adopting Bitcoin (BTC) as a parallel legal tender to the US dollar in September could substantially lower the costs of remittances that are a vital source of income for millions.
El Salvador began installing crypto ATMs as the country enters the last two weeks of preparation for the big day when Bitcoin (BTC) will claim its legal tender status.
Fitch Ratings has warned that El Salvador’s move to regulate Bitcoin (BTC) as legal tender could negatively affect credit ratings of the country’s insurance sector.
According to 20 Minutos, a Spanish newspaper group, lawmakers in the country are considering a proposal enabling mortgage payments with crypto.