El Salvador will, in ten days, adopt Bitcoin as an official currency. It’s making massive investments in projects to develop end-user products to hold and spend bitcoin. The opportunities of this venture are enormous, though some warn there are risks. El Salvadorians Will Soon Find Imports Attractive Because Bitcoin is a deflationary cryptocurrency, and the...Read More
After El Salvador made history earlier this year by accepting bitcoin as a legal tender, the number of countries planning to mimic the move continues to grow. A recent report showed that Cuba’s Central Bank wants to implement rules enabling the nation to utilize digital assets legally. CryptoPotato reported in May this year when Cuba’s...Read More
The President of El Salvador Nayib Bukele has revealed the structure for the upcoming implementation of the Bitcoin Law on September 7th, with the Chivo wallet app also available for download on the same day. Chivo Wallet App Comes With Zero Commission In a tweet thread on August 23rd, President Nayib Bukele said that the...Read More
More updates coming from Paraguay in terms of its possible crypto adoption indicated that the nation is actually looking for regulation instead of making BTC a legal tender. Prominent economist and cryptocurrency basher Steve Hanke was quick to applaud the reversal. Paraguay: Regulations Not Legal Tender June became a historic month for the primary cryptocurrency...Read More
Unfortunately, it was another challenging week in the cryptocurrency market, though this can only be said about the developments in terms of price. Elsewhere – adoption seems to be booming, especially when it comes to Bitcoin. Starting off with the price – bitcoin is currently trading at around $33,000, down about 13% in the past...Read More
A few years after banning the usage of digital assets within its borders, Tanzania is heading towards a full 180-turn. The nation’s central bank asserted today that it has begun working on a recent directive from the President to adopt cryptocurrencies. CryptoPotato reported a few weeks back when Tanzania’s President – Samia Suluhu Hassan –...Read More
Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well. CryptoPotato reported last week when Rejala Helman said his country planned to start...Read More
On Wednesday, a World Bank spokesperson stated that they are committed to helping El Salvador in numerous ways including currency transparency and regulatory processes for its Bitcoin adoption plan. However, the international financial institution was not keen on the Bitcoin part according to Reuters, adding: “While the government did approach us for assistance on bitcoin,...Read More
While the entire crypto industry was extremely delighted with the news of El Salvador’s bitcoin adoption as a legal tender, several financial analysts have called out the country’s president and congress for the decision. A “Very Stupid” Decision In a recent report, Steve Hanke, a professor of Applied Economics at the John Hopkins University, has...Read More
Following the adoption of bitcoin as the country’s second legal tender, El Salvador’s government is discussing if companies would pay their employees in bitcoin. In a tweet by a local radio station 107.7 Fuego on Tuesday (June 15, 2021), three government ministries were considering the possibility of companies’ workers receiving their wages in BTC. This...Read More
The Central American Bank for Economic Integration (CABEI), an international multilateral development bank headquartered in Honduras, said that it will work with the El Salvadoran government to implement bitcoin as the country’s second legal tender. According to Reuters, on Monday (June 14, 2021), the executive president of CABEI, Dante Mossi, revealed the bank’s plans at...Read More
Following El Salvador’s move to adopt bitcoin as a legal tender in the country, Wall Street giant JPMorgan seems not to be impressed by such a monumental decision from the Central American nation. JPMorgan Comments on El Salvador’s Bitcoin Move In a recent note to investors, as tweeted by Financial Times correspondent Robin Wigglesworth, JPMorgan...Read More
The past seven days, despite being intensive in terms of important news, were less than exciting when it comes to pricing. Most of the cryptocurrencies experienced substantial losses. Bitcoin, unlike the majority of altcoins, performed relatively well in comparison. It’s still down about 5% on the week, but its market dominance has increased to about...Read More
When it comes to Bitcoin, the president of El Salvador does not know what it means to go slow. Over the weekend, he announced that he was working on a proposal to accept Bitcoin as legal tender. 3 days later, he introduced the bill to the Assembly, and hours later that same day, the bill...Read More
