Bitcoin is out of power in El Salvador after the legislators in the country Rush To change the laws on the encrypted currency after an agreement with the International Monetary Fund.
San Salvador and President Nayyib wanted a loan from the International Monetary Fund for $ 1.4 billion, and the International Monetary Fund has agreed as long as the country agreed to expand its pro -bitcoin laws. Congress of Salvador, dominated by Bukele’s Bukele’s allies. Legislation Pass With a vote 55-2, 6 articles of Bitcoin Law were amended, and 3 others were canceled.
Bitcoin is still considered a legal tender in El Salvador, but it is no longer a “currency”, which means that its approval is optional. Companies can now choose whether to accept Bitcoin or not, instead of forcing them to the governmental mandate. The state will also not accept Bitcoin as a form of payment for taxes and debt Investment limit In the “Chevo Wallet”, the state -backed encrypted wallet.
Bukele and El Salvador went to Bitcoin in 2021. After his election, the young leader pushed the laws through laws to make the legal bid of bitcoin and pressed huge projects he said would change his country’s economy. Plans of the city of Bitcoin huge and I announced this on the stage Amid laser, foreigners, light width. The plan was to build the city around a volcano in the form of physical bitcoin and pick up the thermal energy from the volcano to an encrypted currency.
In seeing Bukele, the number will rise. Forever.
He did not pass. In fact, Al Salvador’s economy has become very harsh that he had needed to reach the International Monetary Fund for its loan to achieve stability itself. The overthrow of Bitcoin from El Salvador was on the radar of the International Monetary Fund for a long time. “There are great risks associated with the use of bitcoin as a legal tendency, especially given the high fluctuations of their price. We do not recommend it. In the short term, the costs and risks greatly exceed the benefits.” Criticism of the country’s economy.
Meanwhile, I swear by an agent that Al Salvador is still a Bitcoin friendly country. But this is not friendly. The batch to adopt the cryptocurrency was fluctuated between ordinary people. Less than 12 % of Bitcoin was used and Bukele admitted that he had “had no widespread dependence that we were hoping” in An interview over time.
But the agent told the magazine that the bitcoin batch built the country’s brand and made people think about things other than violence and imprisonment when they think about El Salvador. But violence and imprisonment returned to the news after a countryside meeting with US Secretary of State Marco Rubio.
El Salvador is famous for the huge Supermax Prisons. Horror monsters house tens of thousands of prisoners. He met the Undelle and Rubio during the weekend and President Al -Salvadori The prison area was offered To America. He said that the United States could put anyone who wants inside their concrete nightmares, including American citizens.
Roybo and Trump administration are shopping around places to house people in the country deporting as part of the Immigration campaign. Rubio and the White House said there are no plans to deport American citizens in foreign prisons.
But the width on the table. In El Salvador, Bitcoin is often out of fashion and prisons.