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Bitcoin fell $10,000 on first day as El Salvador's official currency

TechSpot

Just a few months after adopting Bitcoin as legal tender, it became an official currency of El Salvador yesterday. It's hoped that the move will make it easier for the huge number of El Salvadorians living abroad to send money home to their families—the government says Bitcoin could save the.

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Crypto exchanges struggle as El Salvador adopts Bitcoin

The Verge

Today, Bitcoin is becoming an official currency in El Salvador , and the markets and crypto exchanges seem to be struggling. El Salvador passed a resolution to adopt Bitcoin as an official currency in June. Illustration by Alex Castro / The Verge. Coinbase Support (@CoinbaseSupport) September 7, 2021.

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Bitcoin will soon be an official currency in El Salvador

The Verge

El Salvador has passed a resolution to make Bitcoin a legal currency, which makes it the first country to do so ( via The Guardian ). According to The Guardian , some human rights groups focused on Central America have doubts about Bitcoin’s adoption leading to meaningful change for many of the country’s citizens.

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Central African Republic follows El Salvador in making Bitcoin an official currency

TechSpot

A bill governing the use of Bitcoin was adopted unanimously by parliament last week, writes Reuters.

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MARA raises $23M from Coinbase Ventures and FTX to build Africa’s portal to the crypto economy

TechCrunch

With the right resources, this region has potential for mass adoption of cryptocurrency. Nestcoin raises $6.45M pre-seed to accelerate crypto and web3 adoption in Africa and frontier markets. As a “legalized exchange,” MARA plans to teach governments and provide support on KYC and AML best practices.

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Bitcoin’s bid to become the “one chain to rule them all”

TechCrunch

Bitcoin has integrated with a layer-two protocol called the Lightning Network to increase its speed and efficiency while lowering transaction costs, a piece of infrastructure used by the nation of El Salvador and major crypto exchanges such as Kraken. More than just an asset.

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An Entire Country Switched Over to Bitcoin and It's Turned Into a Disaster

Futurism

That country is El Salvador, home to the native Pipil people of Cuscatln, ancient mangrove forests, and for four wild years, the crypto industry. The government hoped the edict would jump-start the nation's ailing economy, a growing haven for organized crime that's typical of high-poverty nations. million residents.