El Salvador Opposition Party Sues to Block Bitcoin Legislation | Crypto Briefing

Key Takeaways

The opposition in El Salvador has filed a case against the new Bitcoin law, deeming it unconstitutional and baseless.
Reportedly, citizens and businesses in El Salvador also have reservations about the new law.

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Understanding Latin America’s Rising Interest in Bitcoin Adoption

Latin American countries have been enacting or even signaling their interest in bitcoin over the last few weeks.
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Both El Salvador and Paraguay have signaled their pro-bitcoin intentions. The former has not even so much signaled them as put them into practice.

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An asset for all classes: What to expect from Bitcoin as a legal tender

For much of its life, Bitcoin (BTC) has been viewed mainly as a speculative financial instrument, but El Salvador’s dramatic move in making BTC a legal tender is a reminder that cryptocurrencies can play a role in uplifting the world’s less-well-off citizens.

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World Bank Denies El Salvador Help With Bitcoin Plans | Crypto Briefing

Key Takeaways

The World Bank has denied El Salvador’s request for technical assistance in adopting Bitcoin due to environmental and transparency concerns..
President Nayib Bukele asked the World Bank for help in implementing Bitcoin transactions.

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World Bank refuses El Salvador’s request for help on BTC transition

The World Bank has refused El Salvador’s request for help on the country’s transition to adopting Bitcoin as legal tender.
It cited issues with Bitcoin’s environmental impact and transparency as reasons why it will not support El Salvador move to adopt Bitcoin as an officially accepted currency .

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Steve Hanke warns BTC could ‘completely collapse the economy’ of El Salvador

Steve Hanke, a professor of applied economics at Johns Hopkins University, has warned that El Salvador’s recent adoption of Bitcoin (BTC) as legal tender has the potential to “completely collapse the economy.

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