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Remittance firms operating in El Salvador appear reluctant to support Bitcoin despite the country’s new law mandating the crypto asset as legal tender. Go to Source Powered by WPeMatico
JPMorgan struggles to “see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” Commenting on El Salvador’s bitcoinization, JPMorgan did not rule out that the country’s move to make the cryptocurrency legal tender may be “the beginning of a broader trend among similarly situated, smaller nations.” JPMorgan’s Opinion on … Read more
El Salvador has become the first country to make Bitcoin legal tender, but what are the complexities and potential short-term effects? Go to Source Powered by WPeMatico
An official at the Bank for International Settlements (BIS) and former member of the executive board of the European Central Bank (ECB), Benoit Coeure, insists that bitcoin has not passed the test of being a means of payment. He calls El Salvador’s move to make the cryptocurrency legal tender “an interesting experiment.” BIS Official Doubts … Read more
JP Morgan says that El Salvador’s decision to adopt Bitcoin as legal tender is of little economic benefit. Go to Source Powered by WPeMatico
El Salvador’s move to make Bitcoin legal tender in the country continues to elicit reactions from legacy finance gatekeepers, this time from the Bank for International Settlements. Go to Source Powered by WPeMatico
The International Monetary Fund (IMF) has warned of “a number of macroeconomic, financial and legal issues” surrounding El Salvador making bitcoin legal tender. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them,” an IMF spokesperson cautioned. IMF Sees Issues With Bitcoin Being Legal Tender in El Salvador … Read more
The International Monetary Fund has previously spoken out against smaller nations like the Marshall Islands recognizing a digital currency as legal tender. Go to Source Powered by WPeMatico
El Salvador has begun exploring bitcoin mining using energy from its volcanoes, President Nayib Bukele has revealed. “Our engineers just informed me that they dug a new well that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanos,” he detailed. Bitcoin Mining Using Volcanoes’ Energy El Salvador President Nayib Bukele … Read more
Bitcoin market sentiments remain skewed to the downside even after it becomes a legal tender in El Salvador following a parliamentary nod. Go to Source Powered by WPeMatico
