Is Bukele preparing El Salvador for a Bitcoin-only economy? Discover how training 80,000 public servants in Bitcoin could transform the nation’s financial future and position it as a global hub for the digital currency.
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El Salvador Blockchain Industry News
Read all the latest blockchain industry news from El Salvador. Covering blockchain, digital economy, and FinTech, including cryptocurrency, Bitcoin, Ethereum, DeFi, digital finance, NFTs, and Web 3.0 news and analysis.
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In 2021, El Salvador garnered worldwide attention by making history as the first nation to embrace Bitcoin as a legal tender.
As the digital bond will be issued on the Liquid Network and Blockstream AMP, El Salvador will be able to accept investments as small as $100.
“With this asset you will be able to buy a house, a car, go to McDonald’s to buy a hamburger – it will be a currency in the country as it happened in other countries,” states Brazil’s Federal Deputy Aureo Ribeiro.
Within two weeks of Bitcoin officially becoming a legal tender in El Salvador, the official Chivo Wallet has penetrated 17 percent of the population.
The plan spearheaded by President Nayib Bukele is aimed at increasing financial inclusion and allowing Salvadorans to save on US$400 million spent annually in commissions for remittances.
Much like a CBDC, the cryptocurrency “Colón-Dollar” is expected to be launched by the end of this year.
El Salvador, June 14, 2021 /AlexaBlockchain/ – Dante Mossi — the head of the Central American Bank for Economic Integration (CABEI) — has confirmed that the bank will provide technical…
The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out.
El Salvador’s President Nayib Bukele said on Saturday that he will send a bill to Congress next week to make bitcoin legal tender in the Central American nation.