Search Results for: Nayib Bukele tender law

Latam Insights: Bolivia Sells Gold for Dollars, Argentina Bans Fintech Crypto, Fitch Upgrades El Salvador’s Credit Rating

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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech…

IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed

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According to a recent mission statement published by the International Monetary Fund (IMF), El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use…

Arizona Senator Launches Bill to Make Bitcoin Legal Tender

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A senator in the U.S. state of Arizona has introduced a set of cryptocurrency bills, one of which seeks to make bitcoin legal tender. “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is freedom,” the lawmaker said….

Bitcoin-Embracing El Salvador President’s Re-Election Declaration Slammed

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Just over a year after overseeing El Salvador’s adoption of bitcoin, the Central American country’s 41-year-old president, Nayib Bukele, recently declared his intention serve another five-year term. The announcement has been criticized by some who have been quick to remind Bukele…

International Monetary Fund to Assist El Salvador in Compiling Bitcoin Adoption Statistics

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The International Monetary Fund has mentioned it is providing technical assistance to the government of El Salvador in various ways. According to Gerry Rice, a spokesperson for the organization, the group is having talks with people of the Salvadoran government about…

El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender

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El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says…

Kingdom of Tonga May Adopt Bitcoin as Legal Tender, Says Former Member of Parliament

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The Kingdom of Tonga may adopt bitcoin as legal tender, according to a former member of Tonga’s parliament, Lord Fusitu’a, who tweeted about a possible timeline for this event to occur. Fusitu’a believes that by next fall a bill will be…

El Salvador Drafts 20 Bills for Legal Structure of Bitcoin Bonds — Funds to Be Used to Build Bitcoin City, Buy BTC

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El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained. El Salvador Drafting…

Salvadoran Ecologist Claims Nayib Bukele’s Volcano-Powered Bitcoin Mine Will ‘End in Environmental Disaster’

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El Salvador’s leading ecologist Ricardo Navarro believes that mining bitcoin with a volcano, or geothermal energy, will “end in environmental disaster.” Navarro believes geothermal energy costs more than oil, and thinks El Salvador’s millennial president Nayib Bukele’s decision is questionable. Salvadoran…

Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin’s Price Skyrockets

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On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned…