El Salvador

Ethereum co-founder Vitalik Buterin spoke on Saturday about the crypto community’s tendency to enable and welcome nefarious actors.  He named El Salvador President Nayib Bukele as an example, accusing enthusiastic Bitcoiners of overlooking his “not democratic government.” Enabling Bad Actors In an interview with The Straits Times, Buterin discussed the numerous “small countries” whose governments are experimenting with crypto adoption. When asked whether such efforts were safe for the countries involved, the developer said it depends on how these efforts…

El Salvador’s government has presented a bill to congress for regulating cryptocurrencies and related assets beyond just Bitcoin.  The legislation brings the Central American country a step closer to its goal of issuing blockchain-based Bitcoin-bonds. The Digital Securities Law The “Digital Asset Issuance Law” was presented by a spokesperson for the Salvadoran presidency late Tuesday. The legislation seeks to establish a dedicated crypto commission and Bitcoin Fund Management Agency for overseeing crypto debt sales. Tether CTO Paolo Ardoino said on…

In a tweet on Thursday, El Salvador’s pro-Bitcoin president Nayib Bukele announced the nation’s plans to buy 1 Bitcoin per day, starting tomorrow, 18 November 2022. Tron Founder Justin Sun didn't spare a moment to jump into the conversation announcing he would follow in the nation’s footsteps.  We are buying one #Bitcoin every day starting tomorrow, Bukele stated. El Salvador’s BTC Reserves Suffer Major Losses Amid FTX Saga The nation recently celebrated its anniversary of adopting the leading cryptocurrency as…

Per a CoinATMRadar report, Spain now ranks third globally in terms of crypto ATM installations within its borders. The European nation has pushed past El Salvador to sit behind the USA and Canada. Spain Now 3 ATMs Ahead of El Salvador According to the data, crypto users in Spain now have access to a total of 215 crypto-optimized ATMs. Indeed, Spain is responsible for 0.6% of crypto ATM installations around the world. Notably, El Salvador only falls behind by 0.1%…

El Salvador, the first country to make Bitcoin (BTC) legal tender, has purchased an additional 80 BTC. The country’s president, Nayib Bukele, announced via Twitter earlier today. According to him, the Salvadoran government bought the tokens at an average price of $19,000. This means the government spent around $1.52 million on this purchase. [embed]https://twitter.com/nayibbukele/status/1542672286490271744?s=21&t=tNewbes_XFcRtaHCIDnHdg[/embed] This news comes on the heels of Bukele announcing the purchase of another 500 BTC on May 9. This purchase brought El Salvador’s BTC holdings 2,301…

Binance is creating employment for El Salvadorian youths to remedy the rate of gang-related activity in the country.   According to the exchange’s CEO Chapeng Zhao, employment opportunities targeted at young Salvadoreans could keep them off the streets. In the past weeks, the country has had its share of gang incidents. A situation that was dire enough to keep pro-crypto President Nayib Bukele off the recent Bitcoin conference. Early this morning, Zhao revealed that Binance already recruited 7 new Salvadorean employees.…

As many know, El Salvador was the first country to recognize Bitcoin as legal tender in the country’s territory. National President Nayib Bukele is among those who believe that the policy that went into force in 2021 was historic.  While crypto enthusiasts have continuously shown their support for this choice, not everyone was happy with these developments. In the latter category, we should mention some of the policymakers in the United States. The "Accountability for Cryptocurrency in El Salvador (ACES…

Nayib Bukele – President of El Salvador – has canceled his scheduled appearance at the Bitcoin 2022 Conference in Miami. That means he won’t be delivering a keynote speech originally slated for Thursday. Many were expecting the President’s appearance, considering his debut as a Bitcoin figurehead at last year’s conference. At the time, he had revealed his decision to make Bitcoin legal tender in El Salvador through a video presentation. However, he issued a letter to the conference today saying…

El Salvador has just decided to increase its bet on the blockchain industry, one of the most crypto-friendly economies globally. After recognizing Bitcoin as a legal tender, the country looks to reform its credit market. The government has promoted a strategic partnership with a company specializing in crypto loans. Understanding the implications of this decision can be tricky, and this article aims to shed some light on the subject. Shaking up the credit market The National Commission for Micro and…