Despite being heavily impacted by the COVID-19 pandemic, a small beach town in El Salvador, dubbed El Zonte, have strived to keep their economy afloat with the integration of Bitcoin as a digital currency.
More DetailsFitch Ratings has warned El Salvador that its bitcoin adoption plan poses serious risks to local insurance companies.
More DetailsDespite missing the bottom by seven minutes, President Nayib Bukele of El Salvador announced that the Central American nation still bought 150 new Bitcoins at the $48K level.
More DetailsEl Salvador has eliminated all income, property, and capital gains taxes on technology innovations, including software programming, coding, apps and AI development, as well as computing and communications hardware manufacturing. This move supports the country's ongoing efforts to expedite technological development, including the establishment of the National Bitcoin Office (ONBTC) to conduct joint initiatives with Bitcoin entrepreneurs and companies.
More DetailsRoger Svensson, Associate Professor of the Institute of Industrial Economics, suggests that Bitcoin (BTC) is unsuitable as a medium of flat money for international currency.
More DetailsA poll shows that more than three-quarters of Salvadorans are sceptical towards the implementation of Bitcoin across the country, according to Reuters, citing a survey released Thursday.
More DetailsLegislation authorizes a Bitcoin-backed bond to pay down national debt and build "Bitcoin City". After President Bukele ratifies the measure, it will become law. The bonds are expected to generate $1 billion for the government, half of which would fund the special economic zone.
More DetailsParaguay lawmaker has tabled a motion in pursuing Bitcoin as legal tender, hoping that the country will become another country to use cryptocurrency after El Salvador.
More DetailsThe use of volcano power to mine Bitcoin (BTC) in El Salvador was propelling the leading cryptocurrency’s quest to accelerate renewable energy development.
More DetailsEl Salvador parliament has passed the Bitcoin Trust Fund proposal into law.
More DetailsEl Salvador will delay the issuance of bitcoin bonds originally scheduled for March 15-20, possibly until September, according to Reuters.
More DetailsEl Salvador President Nayib Bukele released on his official Twitter on January 2 his bullish forecasts for bitcoin in 2022. Among them, Nayib Bukele believes that the bitcoin price will reach a high of $100k in 2022.
More DetailsWith the crypto market witnessing massive liquidations affecting retail and institutional investors, El Salvador has also been on the receiving end with a loss of more than $11 million, given that it holds at least 1,391 Bitcoin, according to Bloomberg.
More DetailsThe growing interest in Bitcoin continues to draw attention from the public as El Salvador takes the helm of Google searches.
More DetailsEl Salvador is preparing to launch the initial 200 ATMs that will enable conversion of Bitcoin to cash. President Bukele said that the use of Bitcoin will not be mandatory.
More DetailsPresident Nayib Bukele has showcased his level of trust in the price of Bitcoin (BTC) soaring to new levels through a new tweet shared on Monday.
More DetailsCentral African Republic (CAR) has officially adopted Bitcoin (BTC) as a legal tender in the country, following in the footsteps of El Salvador in Central America.
More DetailsThe International Monetary Fund (IMF) is concerned about the risks of El Salvador's issuance of bitcoin-backed bonds, urging El Salvador to terminate bitcoin as legal tender as soon as possible.
More DetailsPresident Nayib Bukele is pushing for several policy reforms that will grant Citizenship by Investment to foreign investors, according to his recent disclosed message on Twitter.
More DetailsThe crypto trading world is in a sell-off panic due to the Fed’s rate hike. President Nayib Bukele announced Monday that the government bought just 500 bitcoins at an average price of $30,744, spending about $15.5 million.
More DetailsEl Salvador President Nayib Bukele announced the country has acquired another 410 Bitcoins for just $15 million amid the ongoing Bitcoin dip.
More DetailsThe International Monetary Fund (IMF) expressed their concerns over the recent adoption of legalising Bitcoin (BTC) as a legal tender in El Salvador.
More DetailsEl Salvador’s digital Bitcoin wallet Chivo removed a pricing feature that allows users to make quick profits on trades, siting efforts to increase the crackdown on speculation involving the world’s biggest cryptocurrency.
More DetailsEl Salvador, famous for its Bitcoin adoption recently, has revealed that it made additional investments, purchasing about $25 million dollars’ worth of Bitcoin on Wednesday.
More DetailsEl Salvador relaunches the Chivo Wallet, which promises to enable instant low-fee Bitcoin transactions by integrating with white-label infrastructure provider AlphaPoint while addressing issues related to stability and scalability.
More DetailsMcDonald’s move signals that multiple businesses are going to start accepting Bitcoin payments in El Salvador. Bitcoin is set to continue going mainstream, with El Salvador formally recognizing the crypto as legal tender.
More DetailsEl Salvador is leaping the dividends of making Bitcoin legal tender. The nation’s tourism industry has recorded a 30% surge since this milestone was attained in September 2021.
More DetailsThe World Bank rejects offering technical assistance for El Salvador to implement its Bitcoin adoption agenda given environmental and transparency concerns.
More DetailsWestern Union may lose business because of the rise of Bitcoin, as remittance costs are bound to be significantly lower through Bitcoin henceforth.
More DetailsJPMorgan Chase, citing a report, stated that El Salvador’s designation of Bitcoin as legal tender would bring various obstacles to its country, questioning the robustness of the payment mechanism.
More DetailsEl Salvador has been making significant strides in the crypto space ever since, with the latest being Bitcoin wallets dwarfing bank accounts in the nation.
More DetailsA new study shows no Chivo wallets downloads this year in El Salvador, indicating the enthusiasm for the crypto adoption in the nation does not as promising as painted.
More DetailsThe Bitcoin futures perpetual funding rate turned negative after the leading cryptocurrency recorded a 10% daily loss. Analysis suggests over-leverage factor may trigger the recent plunge.
More DetailsEl Salvador submitted a law to legalize digital assets in public issuances. The government intends to raise $1 billion for "Bitcoin city" Half of the cash would go to Bitcoin.
More DetailsAlejandro Zelaya has defended El Salvador’s Bitcoin plan. According to the finance minister, the plan is working amid challenges posed by the market crash.
More DetailsEl Salvador's President Nayib Bukele and Grenada's ambassador Justin Sun have decided to accumulate 1 BTC per day. Analysts are worried that bitcoin could slide to $13,000, having already lost 76% since hitting a record high of $69,000.
More DetailsCentral American countries closely pay attention to see if El Salvador’s Bitcoin adoption could reduce the cost of remittances.
More DetailsEl Salvador President Nayib Bukele intends to introduce a bill that would make Bitcoin legal tender.
More DetailsOn Monday, El Salvador President Nayib Bukele announced that the Central American nation bought 150 new Bitcoins from the dip, urging people to buy the dip by giving his "presidential advice".
More DetailsOver thousand protestors marched in the capital of El Salvador Wednesday, while some Bitcoin ATMs reportedly were destroyed against the adoption of Bitcoin as fiat money.
More DetailsPanama has introduced a crypto bill with the aim to legalize Bitcoin and cryptocurrencies.
More DetailsBancoagrícola, the largest bank in El Salvador, has started allowing its customers and merchants to use Bitcoin for payments towards credit cards, loans, and merchant goods and services. The bank has partnered with digital payments gateway Flexa to enable such integration.
More DetailsThe Central American Bank for Economic Integration (CABEI) disclosed that the institution would offer assistance to El Salvador to enable Bitcoin as flat money.
More DetailsCentral American nation El Salvador officially adopts Bitcoin as legal tender Tuesday, becoming the first country to embrace Bitcoin as another circulating fiat currency alongside the US dollar.
More DetailsForty-four nations are expected to meet in El Salvador today, May 17th, to discuss issues touching on banking the unbanked and Bitcoin adoption, according to President Nayib Bukele.
More DetailsEl Salvador's President Nayib Bukelet announced that Bitcoin will officially become legal tender on September 7 and will airdrop $30 in Bitcoin to the public.
More DetailsEl Salvador plans to launch Bitcoin "Volcano Bonds" in early 2024 to fund "Bitcoin City" and address sovereign debt.
More DetailsNayib Bukele, the president of El Salvador, has announced the first steps that the country has taken to enable volcanoes to mine Bitcoin.
More DetailsThe International Monetary Fund has expressed its scepticism about the role of Bitcoin in helping El Salvador to maintain financial stability.
More DetailsThe adoption of Bitcoin as legal tender in El Salvador will be effective tomorrow. The market concerns if the new measure would further stimulate the surge of Bitcoin’s price.
More DetailsThe issuance of a Bitcoin bond worth $1 billion is deemed as a stepping stone towards enhancing financial freedom and innovation in El Salvador.
More DetailsThe two jurisdictions want to strengthen relations to harness the potential of Bitcoin cryptocurrency for the benefit of both regions and neighboring states and countries.
More DetailsMexican Senator Indira Kempis is ready to send a bill to Congress which will seek to legalize Bitcoin as a legal tender in the country.
More DetailsEl Salvador President Nayib Bukele has lashed out at the U.S. government after the Senate Foreign Relations Committee passed the Accountability for Cryptocurrency in El Salvador Act (ACES) Bill.
More DetailsEl Salvador is considering building a Bitcoin mining hub around its volcanoes.
More DetailsThe ongoing Bitcoin conference in El Salvador could not have come at an interesting time when the leading cryptocurrency has shown its resilience amid the current LUNA crash, according to Mikkel Morch, the executive director at crypto hedge fund ARK36.
More DetailsEl Salvador’s President, Nayib Bukele has unveiled the country’s plans to build the first fully functional Bitcoin city, a project that is billed to be funded by a Bitcoin-backed, government-issued bond.
More DetailsBefore the end of 2021, Blockchain.News summaries serval key events and milestones that the crypto sector has witnessed this year.
More DetailsEl Salvador President Nayib Bukele confirmed the country has purchased an additional 150 units of BTC despite the market dip. The nation experienced the volatility of crypto just within a day after adopting BTC as legal tender.
More DetailsEl Salvador's BANDESAL has denied the request for its Bitcoin information from ALAC
More DetailsEl Salvador has just become the first country to adopt bitcoin as legal tender. El Salvador President Nayib Bukelet welcomed the adoption and said that is a historical moment.
More DetailsJohana Obando, a congresswoman from the Central American country of Costa Rica, has introduced a bill to Congress requiring the government to regulate the crypto market and reduce taxes on cryptocurrencies, making Costa Rica a cryptocurrency-friendly country.
More DetailsEl Salvador now ranks as the third country with the largest number of installed Bitcoin-backed automated teller machines globally.
More DetailsAfter slipping to lows of $54,000, a scenario not seen in the last six weeks, El Salvador saw this as a perfect opportunity to buy the dip for additional 100 BTCs.
More DetailsEl Salvador has started reaping from its Bitcoin investment because profits have started being channeled towards infrastructural development.
More DetailsEl Salvador, the first nation to legalize Bitcoin, is opening a Texas Bitcoin Embassy to promote BTC.
More DetailsEl Salvador's Cuscatlan and Agricola banks have announced they will now accept Bitcoin for loan payments, paving the way for Bitcoin to be used directly for credit card debt settlements and loans, potentially setting global banking industry precedents.
More DetailsCentral American nation El Salvador purchased 21 Bitcoins (BTC) on December 21, 2021, to mark the 21st day of the 21st year of the 21st century.
More DetailsEl Salvador's President Nayib Bukele said as many as 2.1 million users are now actively using the Chivo wallet.
More DetailsWe arranged an interview with Maha El Dimachki, Head of Payments of the FCA during Singapore FinTech Festival, which El Dimachki shares with us the contribution of the FCA for UK as the thriving FinTech hub, opportunities and threats of e-money firms from the current digital disruption.
More DetailsFollowing the Part 1 interview of the Financial Conduct Authority, Maha El Dimachki, Head of Payments of the FCA reveals some of her key initiatives in the FCA, including the significance of the second Payment Services Directive (PSD2) among the EU countries and the rationale of the Stronger Customer Authentication. As Co-Chair of Spectrum, the BAME Network Group at the FCA, El Dimachki also provided some advice for women in FinTech!
More DetailsArgentina’s Financial Information Unit (FIU) has ordered stricter controls and monitoring into cryptocurrency transactions in the country to eradicate money laundering and other illicit activities. Argentine newspaper El Cronista reported that the FIU, a government agency that is responsible for enforcing anti-money laundering laws and compliance, is looking to tighten its controls on cryptocurrency trading.
More DetailsMany businesses and individuals in Latin American countries are using cryptocurrency to buy retail goods while seeking to avoid unstable fiat markets.
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