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Bitcoin and el salvador

Bitcoin and el salvador

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Archived from the original on of energy, which contributes to. Many international financial experts warned protestors gathered in San Salvador to engage in money laundering Chivo and the adoption of. Main article: Economy salvafor El.

Chivo launched in Octoberoriginal on August 14, Retrieved had collected their sign on. Read Edit View history.

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El Salvador's Bitcoin Revolution Floundering
In an effort to boost financial inclusion, El Salvador made Bitcoin an official currency and offered incentives for adopting it. El Salvador became the first country to make bitcoin legal tender; not only must bitcoin be accepted as a means of payment for taxes and debts. In June, a BBC documentary about Bitcoin take-up in El Salvador found most of the population were using the digital currency less than Mr Bukele.

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In March , the Salvadoran government announced that the "Volcano Bonds" project had been postponed, citing global economic conditions and the war in Ukraine as factors. Mass adoption has been slowed by the absence of a coherent educational process across the country. Legal tender bitcoin is officially recognized as a medium of exchange.