IMF Urges El Salvador to Tighten Bitcoin Law and Strengthen Oversight
The International Monetary Fund (IMF) has advised El Salvador to narrow the scope of its bitcoin law, strengthen regulation and oversight of the cryptocurrency, and limit public sector exposure. The IMF remains engaged with the country to support reforms and ensure bitcoin adoption does not threaten financial stability. IMF Urges El Salvador to Tackle Bitcoin […]
Bukele Advises Argentine Vice President on Bitcoin and Volcano Bonds
During his official visit to Argentina, Bukele met with Victoria Villarruel, the nation’s vice president, to discuss cryptocurrency and the Salvadoran experience with Bitcoin. While the meeting was private, a video released before the meeting shows Villarruel asking Bukele about the first cryptocurrency and the yet-to-be-issued bitcoin-backed “volcano bonds.” Bukele Talks Cryptocurrency and Bitcoin Bonds […]
‘First Citizen’ of Bitcoin City Leaves El Salvador After Waiting Over 2 Years for Its Construction
Corbin Keegan, a U.S. national who self-proclaimed himself as the first citizen of Bitcoin City, has temporarily left El Salvador after waiting over two years for the state to build the settlement. President Nayib Bukele first announced this infrastructure proposal for Bitcoin City in November 2021. He also explained that the settlement would be constructed […]
Study Finds El Salvador Remains One of the Countries Most Interested in Bitcoin
A recent study that examined the interest of several countries in bitcoin and crypto ranked El Salvador as second for having the most interest in the issue. While the U.S. was still ranked first, El Salvador’s high rank comes amidst criticism President Nayib Bukele has drawn from Salvadorans for his push for bitcoin adoption. El […]
El Salvador Approves Digital Assets Issuance Law
The Legislative Assembly of El Salvador approved the Digital Assets Issuance Law, a framework that will allow the country to issue crypto-related debt instruments. The approved law, which was passed thanks to the majority that President Nayib Bukele has in Congress, serves as a base for the issuance of the long-expected volcano bonds. El Salvador […]
Reviewing El Salvador’s Bukele Predictions for 2022: What Went Wrong?
Nayib Bukele, president of El Salvador and die-hard Bitcoin enthusiast, formulated a series of predictions about the behavior of bitcoin and the crypto ecosystem for the past year. These included the top price of bitcoin, the influence of the cryptocurrency on U.S. elections, the issuance of the volcano bonds, and also the construction of Bitcoin […]
Salvadoran President Nayib Bukele Takes Aim at Bitcoin Detractors, Says the Ones Who Are Afraid ‘Are the World’s Powerful Elites’
It’s been over a year since El Salvador codified bitcoin as legal tender in the Latin American country, and by popping the ‘orange pill,’ the country was propelled into the international spotlight. At the end of September, the 41-year-old Salvadoran president Nayib Bukele penned an opinion editorial that takes aim at the detractors who think […]
Bitcoin-Embracing El Salvador President’s Re-Election Declaration Slammed
Just over a year after overseeing El Salvador’s adoption of bitcoin, the Central American country’s 41-year-old president, Nayib Bukele, recently declared his intention serve another five-year term. The announcement has been criticized by some who have been quick to remind Bukele that El Salvador’s constitution prohibits presidents from serving consecutive terms. Re-Election of Presidents a […]
Bitfinex CTO Paolo Ardoino States Salvadoran Bitcoin Bonds to Be Further Delayed
The launch of El Salvador’s bitcoin bonds, issued to finance part of the construction of the Bitcoin City in the country, will be delayed again. In a recent interview Paolo Ardoino, CTO at Bitfinex, the exchange in which these bonds will be offered, stated that the law framework needed for the issuance of these digital […]
El Salvador’s Volcano Bonds Postponed Once Again Due To Bitcoin (BTC) Dip
Despite making grandeur plans on Volcano bonds backed by Bitcoin (BTC), El Salvador has a bumpy road ahead, as President Nayib Bukele’s government is facing a lack of interest from investors, legal vagueness, and a massive debt to be paid off starting in January 2023. Amid the confusion, Paolo Ardoino, the CTO of both Tether […]