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el salvador News and Articles



El Salvador purchases more Bitcoins

El Salvador Adds 100 More Bitcoins Amid the Market Fall

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While prices of cryptocurrencies saw a decline yesterday, investors are considering buying more crypto with discount. On Nov. 16, the president of El Salvador, Nayib Bukele informed followers that the country purchased 100 extra Bitcoins. The previous purchase was on October 28, when El Salvador...

Bank of England governor

UK CB’s Governor Is Concerned About El Salvador’s BTC Policy

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Andrew Bailey, the governor of the Bank of England expressed concerns related to El Salvador's Bitcoin legalization. According to a report by Bloomberg, during the Cambridge University student union on November 25, the governor said he is worried that El Salvador would choose Bitcoin as its...

El Salvador

El Salvador to place $1B BTC bonds on Liquid Network

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The El Salvadorian government has struck a deal with Blockstream and iFinex (the parent company of Bitfinex and Tether) to place a $ 1 billion bitcoin bond on the Liquid Network. Half of the proceeds from the sale of bonds will be directed to the development of the infrastructure for mining the...

El Salvador Bitcoin purchase

El Salvador Acquired 420 More Bitcoins

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El Salvador’s president Nayib Bukele, informed that the country has added 420 Bitcoins worth about $25 M. The price per coin was about $59.500. Bukele informed that the country has already benefited from the BTC it brought as, after the purchase, the BTC price grew. It was a long wait, but worth...

Nayib Bukele

President of El Salvador spoke about the results of BTC legalization

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In early September, a law came into force in El Salvador recognizing bitcoin as a legal tender. The adoption of this landmark document was initiated by the country's President Nayib Bukele. He periodically tweets about the process of adopting cryptocurrency by the citizens of El Salvador. At the...

Vitalik Buterin El Salvador bitcoin

Vitalik Buterin Doesn't Approve El Salvador's BTC Policy

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El Salvador’s president Nayib Bukele's step of Bitcoin legalization and making local businesses support the coin didn’t get approval of Vitalik Buterin. Although Bukele tweeted in September that BTC would not be forced on everyone, Article 7 of the Bitcoin Law states that every business...

Nayib Bykele El Salvador Bitcoin

El Salvador’s President Revealed BTC Gains and Future Plans

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On October 10, El Salvador's president Nayib Bukele tweeted about building a pet hospital with funds raised after Bitcoin adoption. Bukele mentioned that after Bitcoin legalization, the price of the coin saw gains and brought profits of $4 M to the country. The President tweeted that in just 20...

Nayib Bukele

Bukele: A third of Salvadorians are actively using Chivo

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After El Salvador became the first state in the world to officially recognize bitcoin as legal tender, discussions of this event only continue to gain momentum. Media, analysts, and financial experts from all over the world are closely monitoring developments in El Salvador and how this innovation...

El Salvador

More than 50% of Salvadorans know nothing about Bitcoin

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Many citizens of El Salvador did not support the decision of the authorities to recognize bitcoin as a legal tender. The country even held protests against the cryptocurrency law. A poll by Sherlock Communications showed that more than half of Latin American residents know almost nothing about...

ATM

El Salvador is in the top three countries by the number of BTC ATMs

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In early September 2021, a law came into force in El Salvador recognizing bitcoin as a legal tender. In this Latin American state, the number of cryptocurrency terminals has increased dramatically. By expanding the bitcoin infrastructure, President Nayib Bukele expects to increase citizens' loyalty...

El Salvador

Special tax regime will be created for BTC investors in El Salvador

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El Salvador's authorities are considering options to ease the tax regime for all cryptocurrency investors. Bitcoin holders will be exempt from income tax even if they make large profits from trading with this asset. Javier Argueta, who holds the post of legal adviser to Salvadoran President Nayib...

BancoAgricola

Bank of El Salvador has found a partner to process BTC transactions

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Bancoagrícola, one of the largest banking institutions in El Salvador, will provide a service for processing bitcoin transactions. Recall that in this Latin American country a law came into force this week recognizing bitcoin as a legal tender. Bancoagrícola’s management is going to partner...

Hoskinson

Hoskinson: El Salvador accelerates global adoption of BTC

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The leader of the Cardano development team, Charles Hoskinson, believes El Salvador has launched the process of mass adoption of bitcoin around the world. Following this Latin American state, other countries will follow suit. The legalization of BTC strengthens the position of those experts and...

Bitso

Bitso is the main partner of the state BTC wallet of El Salvador

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Around the development and direct launch of the state cryptocurrency wallet of El Salvador - Chivo, a variety of gossip and rumors have been circulating for a long time: from allegations of money laundering to financing corruption. However, apart from the assumptions and guesses of the small media,...

El Salvador Bitcoin

El Salvador Legalized BTC with 400 Coins in Its Holdings

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Nayib Bukele, the president of El Salvador disclosed on September 7 that the country acquired another 200 Bitcoins ahead of the legalization of the cryptocurrency. Thus, the total number of Bitcoins owned by El Salvador reached 400. At current prices, it's worth over $21 M, as Bitcoin trades at...

IMF

IMF calls on El Salvador to abandon the legalization of BTC

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In mid-June, the International Monetary Fund criticized the actions of the El Salvadorian leadership legalizing bitcoin. According to the representative of this organization, Jerry Wright, the recognition of cryptocurrency as a means of payment creates a dangerous precedent. The stability of the...

El Salvador

In El Salvador protests began against the legalization of BTC

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Residents of El Salvador protested against the country's first cryptocurrency legalization. They are worried about the rise of corruption. The Salvadoran Association of International Freight Carriers has demanded an amendment to the bill, removing the obligation to accept digital gold as payment....

El Salvador's president

Bitcoin use in El Salvador will be voluntary

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Last week, the Ministry of Finance of El Salvador said that the legalization of bitcoin does not mean that the use of cryptocurrency will have to be compulsory. Each citizen will decide whether he should keep BTC or use it as a payment instrument. Now the President of El Salvador Nayib Bukele has...

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