Tag: El Salvador

After installing 43 crypto ATMs in 2022, Spain is officially the third largest crypto ATM hub displacing El Salvador to clinch the position

Softnotes make it easier for merchants to accept Bitcoin and are enabled by the world’s fastest blockchain

El Salvador’s long-term foreign currency issuer default rating (IDR) was reduced by Fitch Ratings from “CCC” to “CC,” citing the country’s “dire” liquidity condition as its January bond maturity date gets closer. The decision is in line with Fitch’s assessment that country’s “tight fiscal and external liquidity positions, extremely limited market access, high fiscal financing […]

El Salvador, the first country to adopt Bitcoin as its legal currency, is receiving praise as well as criticism from all over the world. The finance minister Alejandro Zelaya recently defended the country’s strategy that has been recently challenged by many in the crypto space amid the crypto winter season. During a recent interview with Bloomberg, […]

Crypto exchange platform Bitfinex has recently donated 36 Bitcoin (BTC) units worth around $726,000 and 600,000 Tether (USDT) to early-stage small businesses and entrepreneurs. The move comes under its pledge to support economic growth in the neighborhood that have previously struggled with violence related to gangs. #Bitfinex has donated 36 $BTC and $600K in $USDT […]

The world’s first country to accept bitcoin as its legal currency, El Salvador, is still struggling to issue the much-awaited Bitcoin bonds because of heavy market downfall, according to the Finance Minister of the nation. During an interview, Finance Minister Alejandro Zelaya said that it was not yet time to bring the Bitcoin bonds, so-called Vulcano […]

Since the beginning of the year, April 2022 has become the fourth consecutive month of a decline in the Bitcoin ATM installment process. BTC ATMs play an important role in the BTC economy, allowing users to physically retrieve or deposit their BTC holdings against cash reserves. Bitcoin ATM installation count going down According to Coin ATM Radar, the […]

The president of El Salvador, who is the rising star among small countries that are aiming to solidify their economy, Nayib Bukele commented on the news that the highly-talked Accountability for Cryptocurrency in El Salvador Act (ACES) has passed the U.S. Senate Foreign Relations Committeeand is now waiting for a full Senate vote. The national […]

El Salvador, which is a source of motivation for many countries, might see a delay in its highly-talked $1 billion Bitcoin bond, which is also called “volcano bond.” The reason behind this delay is mainly the volatility in the international conditions. The finance minister of the country, Alejandro Zelaya, who previously informed the world that the […]

El Salvador, the country that is the rising star in the eyes of every Bitcoin supporter, has seen a slow BTC adoption rate since the country recognized it as legal tender in September last year. As per a survey by the Chamber of Commerce which polled 337 companies between January 15 and February 9, only 14% of […]

El Salvador has been constantly in the headlines since it adopted Bitcoin as its legal tender in September 2021, alongside the U.S. dollar. The move has not only resulted in tremendous growth of its gross domestic product (GDP) but also of local tourism development. El Salvador sees a surge of 30% in tourism activities The […]

Central American nation, El Salvador, is looking at reforming its laws such that foreign investors coming into the country can gain citizenship by investing in the economy. Taking to Twitter, the country’s President, Nayib Bukele made this revelation, noting that he would be sending a total of 52 reforms to Congress to address some of […]

The Accountability for Cryptocurrency in El Salvador (ACES) Act, introduced by Senators Jim Risch, Bob Menendez, and Bill Cassidy, will demand a State Department report on managing risk to the United States financial system from country’s use of Bitcoin as legal currency. “El Salvador recognizing Bitcoin (BTC) as official currency opens the door for money laundering […]

El Salvador is about to get another slap on the wrist from a traditional financial institution for its “forbidden” love for Bitcoin (BTC). El Salvador’s long-term Issuer Default Rating has been lowered by the American credit rating agency Fitch Ratings from B- to CCC, citing “policy unpredictability” and the “adoption of Bitcoin as legal tender” as some […]

El Salvador, the Central American country that has adopted Bitcoin (BTC) as legal tender, has added 410 BTC to its central bank as BTC values fall below $37,000, the lowest point since July 26, 2021. President Nayib Bukele on Twitter revealed the latest addition to El Salvador’s BTC reserve, confirming that 410 BTC were purchased for […]

The massive price slump in the digital currency ecosystem and particularly Bitcoin (BTC) has notably caused enormous pain for both retail and institutional investors. However, El Salvador, the only country in the world where Bitcoin is officially a legal tender, also has its wounds to lick based on its BTC holdings. Since the country legalized […]

The president of El Salvador and Bitcoin lover who legalized the cryptocurrency in his country last year, Nayib Bukele, has now offered his six forecasts for Bitcoin’s path as we enter the year 2022. According to Bukele, BTC will not only hit $100,000 per token this year but it will also be approved as legal […]

According to several Salvadorans posting on social media, some of the funds from El Salvador’s state-issued Chivo wallets have gone missing. Following the government’s establishment of Bitcoin (BTC) wallets, at least 50 Salvadorans have claimed losses amounting to over $96,000, according to a December 16 Twitter thread initiated by user “the commissioner.” Some of these […]