Many international organizations have criticized the decision of the El Salvadorian authorities to legalize bitcoin.
This week, the Minister of Finance of the Latin American state, Alejandro Zelaya, reacted to internal and external criticism.
According to him, the use of bitcoin in El Salvador will be entirely voluntary. No one will force companies and citizens to use cryptocurrency as a payment instrument.
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The main currency in the country will remain the dollar, the minister said on the air of the TV program Frente a Frente. Even the government itself will be guided in its policy by the dollar and use it for accounting and payments.
The central bank of El Salvador has not yet reacted in any way to the speech of the head of the Ministry of Finance. Currently, the government and the regulator have approved decrees obliging commercial banks and trading companies to work with bitcoin and convert them into fiat money.
In addition, the Central Bank previously published an order for developers of crypto wallets and administrations of exchanges. The document commits to identifying all BTC holders to minimize the risks of money laundering and terrorist financing through cryptocurrency.