Protests Mount as El Salvador Prepares to Adopt Bitcoin as Legal Tender

By Democracy Now

HAVANA TIMES – In El Salvador, lots of of individuals took to the streets of the capital San Salvador earlier this week protesting the adoption of Bitcoin as an official forex — making El Salvador the primary nation on this planet to accomplish that. The regulation, spearheaded by President Nayib Bukele, takes impact subsequent week. Critics warn of drastic fluctuations in cryptocurrency’s worth and say Bitcoin is commonly used for cash laundering. Opponents additionally fear in regards to the financial impacts on poorer communities, lots of which don’t have entry to financial institution accounts or smartphones. This is a Salvadoran union chief.

Stanley Quintero: “The expertise applied for using this coin continues to be very costly for Salvadorans, particularly our older adults. It’s high-end expertise that’s wanted to deal with this digital forex.”

Read extra information right here on Havana Times.

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About the Author: Daniel