{"id":19765,"date":"2021-09-05T06:46:05","date_gmt":"2021-09-05T10:46:05","guid":{"rendered":"http:\/\/worldjusticenews.com\/news\/?p=19765"},"modified":"2021-09-05T06:46:05","modified_gmt":"2021-09-05T10:46:05","slug":"bitcoin-el-salvador-divided-over-legal-tender-law","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2021\/09\/05\/bitcoin-el-salvador-divided-over-legal-tender-law\/","title":{"rendered":"Bitcoin: El Salvador divided over legal tender law"},"content":{"rendered":"
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There is growing scepticism in El Salvador as the country prepares to be the first in the world to recognise Bitcoin as legal tender on 7 September.<\/b><\/p>\n<\/div>\n<\/div>\n

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The government has presented the measure as a way to boost economic development and jobs.<\/p>\n<\/div>\n<\/div>\n

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Polls suggest Salvadorians are not prepared for the move,\u00a0and the World Bank has warned against its adoption<\/a>.<\/p>\n<\/div>\n<\/div>\n

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Analysts say it is an “attention-seeking move” from an “authoritative regime”.<\/p>\n<\/div>\n<\/div>\n

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Next week’s landmark day follows a vote by lawmakers in June to\u00a0legalise the crypto-currency<\/a>.<\/p>\n<\/div>\n<\/div>\n

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Under the country’s Bitcoin Law, businesses will be obliged to accept it or the US dollar, the country’s other official currency, as payment.<\/p>\n<\/div>\n<\/div>\n

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More than 200 new cash machines are being installed across El Salvador to enable dollars to be converted into Bitcoin.<\/p>\n<\/div>\n<\/div>\n

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El Salvador’s government is offering $30 (\u00a322) in free bitcoins to encourage citizens to use its national wallet, which is accessed via an online app.<\/p>\n<\/div>\n<\/div>\n

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