Tag: Tender

‘We need Bitcoin as legal tender’

[ad_1] Amid El Salvador reporting on cases of the positive impact of the country’s Bitcoin (BTC) adoption, a government official in Mexico has once again urged that the country should follow El Salvador’s example on Bitcoin. Indira Kempis, a senator representing Nuevo León state, is confident that Bitcoin should be legal tender in Mexico because Bitcoin adoption can potentially drive global financial inclusion. The senator is now developing a cryptocurrency bill based on El Salvador’s “Bitcoin Law.” She expects to introduce the bill to the Mexican Congress this year, Kempis…

Read More

El Salvador President Nayib Bukele Bitcoin Legal Tender 2022

sysadmin

[ad_1] On New Year’s Day 2022, El Salvador President Nayib Bukele tweeted out his predictions for Bitcoin this upcoming year, making some very bold bets. Seemingly the biggest prediction out of the six he made is that “2 more countries will adopt it as legal tender.” El Salvador became the first country to make BTC legal tender on September 7, 2021, sparking a revolution that caught the attention of many other world leaders. This is a very interesting prediction especially after El Salvador’s ambassador to the United States Milena Mayorga…

Read More

Bank of England Governor Worried About Bitcoin Being Legal Tender in El Salvador – Regulation Bitcoin News

sysadmin

[ad_1] The governor of the Bank of England, the country’s central bank, has voiced concerns about El Salvador choosing bitcoin as a national currency. Citing a recent warning by the International Monetary Fund (IMF) against bitcoin’s use as legal tender, the governor said: “What would worry me most of all is, do the citizens of El Salvador understand the nature and volatility of the currency they have.” Bank of England’s Governor Is Concerned About Bitcoin Being Legal Tender in El Salvador Bank of England (BOE) Governor Andrew Bailey raised concerns…

Read More

Five Countries Make Bitcoin Legal Tender By End Of 2022

sysadmin

[ad_1] “My prediction is that by the end of next year, we’ll have at least five countries that accept Bitcoin as legal tender. All of them will be developing countries,” the BitMEX CEO wrote. High inflation rates, hefty remittance fees, and political incentives might spur developing countries to follow El Salvador’s steps and adopt BTC as a legal tender next year. In Alexander Höptner’s opinion, mainstream media criticism of the Central American country’s Bitcoin law is unfair. The recent move by El Salvador to make bitcoin a legal tender alongside…

Read More

JPMorgan Sees No ‘Tangible Economic Benefits’ of Bitcoin as Legal Tender – Featured Bitcoin News

sysadmin

[ad_1] JPMorgan has offered its view on the bitcoinization of El Salvador, the country which recently made bitcoin legal tender alongside the U.S. dollar. JPMorgan says, “It is difficult to see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” JPMorgan on the Bitcoinization of El Salvador JPMorgan & Chase’s Latin American research team published a report titled “The Bitcoinization of El Salvador” Thursday. El Salvador recently passed legislation making bitcoin legal tender alongside the U.S. dollar. The JPMorgan analysts who authored the report…

Read More

Remittance firms hesitant to support BTC despite legal tender law in El Salvador

sysadmin

[ad_1] Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin and other crypto assets until prompted to do so by customer demand, likely creating a stalemate for the local payments industry. “For Western Union and some of the other remittance providers, keep in mind that most of the volume in the remittance industry is going from developed markets to…

Read More

El Salvador To Declare Bitcoin As Legal Tender

sysadmin

[ad_1] In a recorded announcement played today at the Bitcoin 2021 conference, the president of El Salvador, Nayib Bukele, announced that the country’s government would declare bitcoin as legal tender. “Next week I will send to congress a bill that will make bitcoin a legal tender,” he said. The presentation was hosted by Jack Mallers, founder of Lightning Network payments platform Strike, who has been working with Bukele to determine the logistics of this historic move. “Over 70% of the active population of El Salvador doesn’t have a bank account.…

Read More