#El Salvador News

The President of El Salvador has announced that he will make Bitcoin legal tender in his country

El Salvador to Issue $1 Billion Bitcoin (BTC) Bonds to Develop the First ‘Bitcoin City’

November 21, 2021 by Aisshwarya Tiwari at Bitcoin

The government of El Salvador has partnered with iFinex and Blockstream in an attempt to further its bitcoin (BTC) ambitions. El Salvador to Issue $1 Billion Bitcoin Bond According to a report by Reuters, in a bid to develop the world’s first “Bitcoin City”, the government of El Salvador is...

El Salvador: President Nayib Bukele to Invest Bitcoin (BTC) Profits in Veterinary Hospital

October 11, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

Salvadoran President Nayib Bukele has announced plans to build an ultra-modern veterinary hospital in the nation with more than $4 million in profits generated from the nation’s bitcoin (BTC) trust. The move has drawn mixed reactions on Twitter so far. El Salvador’s Bitcoin Adoption Yields Dividends Barely one month after...

Opposition poses constitutional challenge to El Salvador's Bitcoin law

El Salvador’s Bitcoin (BTC) Rollout Faces More Criticism, Here’s Why

September 22, 2021 by Wayne Jones at Bitcoin

The El Salvadoran government is under severe criticism concerning the recent adoption of bitcoin as its native currency. The complaints arose even further after the Government announced that they bought more bitcoin in the current dip. It's not clear if the people will continue using this coin or eventually boycott...

El Salvador Buys the Dip as Bitcoin (BTC) Falls to $45k

September 20, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

President Nayib Bukele of El Salvador has announced via Twitter on September 20, 2021, that the country has purchased an extra 150 BTC, taking its total bitcoin holdings to 700. El Salvador Buys the Dip Despite the backlashes, protests, and negative energy that has plagued El Salvador’s bitcoin adoption journey...

El Salvador: Authorities Investigating Country’s Bitcoin (BTC) Purchases, ATMs

September 17, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

El Salvador's Court of Accounts has received a complaint concerning alleged irregularities in the country’s bitcoin purchases and construction of ATM kiosks, according to a Reuters report on September 17, 2021. More Troubles for Project Chivo El Salvador Court of Accounts, the agency that’s in charge of the nation’s public resources,...

El Salvador Offers Tax Exemptions to Bitcoin (BTC) Investors

September 13, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

Authorities in El Salvador have revealed that bitcoin (BTC) and other cryptocurrency investors in the region will not be required to pay any form of taxes on their digital asset holdings even when they make huge profits. The move is part of ongoing plans to make the nation a hotbed...

This El Salvador Village Adopts Bitcoin As Money

Banking Giant Bancoagricola Enables Support for Bitcoin Payment in El Salvador

September 10, 2021 by Anthonia Isichei at Bitcoin

El Salvador's largest financial institution Bancoagricola, is accepting bitcoin for various payments and services across its network, in line with the recently implemented Bitcoin Law in the Central American country. Bancoagricola Accepts Bitcoin for Payments According to a press release on Thursday (September 9, 2021), Bancoagricola partnered with the New...

Russia Won’t Follow El Salvador in Recognizing Bitcoin as Legal Tender, Says Government Official

September 8, 2021 by Adeniyi Olowoporoku at Regulation

El Salvador has been making the news round with the adoption of Bitcoin as a legal tender. Russia, however, has no plans of following this route, according to the latest reports from the local media. No Plans to Adopt Cryptocurrencies as Legal Tender This latest development was revealed by a...

El Salvador Buys 400 BTC as Bitcoin Law Goes Live

September 7, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

El Salvador has announced the purchase of 400 BTC, according to a tweet on September 7, 2021. The El Salvador Bitcoin Law introduced by President Nayib Bukele administration takes effect today, officially making it the first sovereign state to make bitcoin (BTC) a legal tender. El Salvador Now Holds 400...

El Salvador Authorities Greenlight $150 Million Bitcoin Integration Fund

September 1, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

Salvadoran lawmakers have approved a bill aimed at setting up a $150 million fund that would facilitate the country’s bitcoin (BTC) integration project. A total of 64 Salvadoran Congressmen voted in favor of the bill while 14 members opposed it, according to a Reuters report on August 31, 2021. El...

El Salvador President Bukele Comments Ahead of Bitcoin (BTC) Law Implementation

August 24, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

President Nayib Bukele of El Salvador has reassured residents that the Bitcoin Law implementation scheduled for September 7 will have positive life-changing effects on the masses, contrary to the “lies” being spread by members of the opposition party, according to a Twitter thread on August 23, 2021. El Salvador’s Bitcoin...

El Salvador’s Central Bank Releases Draft Regulations for Bitcoin (BTC) Services

August 19, 2021 by Anthonia Isichei at Bitcoin

Banco Central de Reserva (BCR), the central bank of El Salvador, has published draft regulations for banks and other financial institutions looking to offer bitcoin-related services. Draft Regulations for Bitcoin Digital Wallet Services The BCR released the document titled "Guidelines for the Authorization of the Operation of the Digital Wallet...

Bank of America Highlights Key Benefits of El Salvador’s Bitcoin (BTC) Embrace

August 2, 2021 by Aisshwarya Tiwari at Bitcoin

One of the largest banks in the US, Bank of America recently came out in public support of El Salvador’s move to make bitcoin legal tender by making a case of the development’s benefits. Bitcoin Adoption Offers Key Opportunities to El Salvador On Sunday, August 1, El Salvador President, Nayeb...

JPMorgan Opines El Salvador BTC Move Could Crumble Bitcoin Network

July 12, 2021 by Aisshwarya Tiwari at Bitcoin

Wall Street giant JPMorgan Chase & Co. opines El Salvador’s bitcoin (BTC) adoption could be a detriment to the Bitcoin blockchain. Questioning the Robustness of the Bitcoin Network A team from JPMorgan Chase & Co. believes El Salvador’s embrace of bitcoin could be counter-productive for the Bitcoin blockchain. According to...

Paraguayan Lawmaker to Introduce Bitcoin Legislation Bill Next Week

July 10, 2021 by Aisshwarya Tiwari at Bitcoin

After El Salvador, Paraguay could be the next nation to adopt the bitcoin standard. Bitcoin Regulation Legislation to Be Introduced In a tweet shared today, Paraguayan lawmaker Carlitos Rejala said he was working with Senator Fernando Silva Facetti to introduce legislation focused on bitcoin (BTC) regulation in the country. https://twitter.com/carlitosrejala/status/1413584882060734473...

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