2021-06-17 12:19:32
Bitcoin Falls Amid Opposition from World Bank on El Salvador BTC Adoption
The World Bank has stated that it would not assist El Salvador in implementing Bitcoin as a recognized legal tender due to environmental and transparency concerns.
In an interview with Reuters, a World Bank spokesperson noted that the institution's commitment to assist El Salvador in implementing regulatory and transparency processes for a new currency remains unshaken. However, with Bitcoin (BTC), it's a different story.
The Finance Minister of El Salvador, Alejandro Zelaya, noted that the government reached out for technical assistance from the World Bank after legalizing Bitcoin use as a legal tender in the country alongside the US dollar.
Meanwhile, the minister noted that negotiations with the International Monetary Fund (IMF) had yielded positive conclusions. However, the…
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