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Crypto crash could see El Salvador default on debt payments

TechSpot

Bitcoin became an official currency alongside the US dollar in El Salvador last year. El Salvador also faced pushback from. The move has proved controversial: many citizens feared the volatility of BTC would make the country's economic problems even worse, and the government's wallet app has proved far from reliable.

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El Salvador becomes first country to adopt Bitcoin as an official currency

The Verge

As of today, Bitcoin is an official currency of El Salvador alongside the US dollar, after the Central American country became the first to adopt the cryptocurrency as legal tender. CNBC notes that the move makes El Salvador the first country to officially have Bitcoin on its balance sheet and to hold it as part of its reserves.

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El Salvador reveals plans to build Bitcoin city

TechSpot

El Salvador president Nayib Bukele unveiled plans to build the "Bitcoin City" along the Gulf of Fonseca, between La Unión and Conchagua. Speaking at a promotional Bitcoin event in the coastal town of Mizata late on Saturday, Bukele said it would include residential areas, commercial areas, services, museums, entertainment, bars,

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The World Bank refuses to help El Salvador's Bitcoin implementation

TechSpot

Earlier this month, El Salvador became the first country to adopt Bitcoin as legal tender. It sits alongside the US dollar as the Central American country's official currency, with the exchange rate freely established by the market. Additionally, prices for goods can be shown in Bitcoin, tax contributions can be.

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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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Bitcoin becomes an official currency in El Salvador alongside the US dollar

TechSpot

El Salvador has become the first country to officially adopt Bitcoin as legal tender.

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The International Monetary Fund tells El Salvador it shouldn’t use Bitcoin as legal tender

The Verge

El Salvador introduced Bitcoin as a legal tender alongside the US dollar in 2021. The International Monetary Fund’s executive board has recommended El Salvador no longer use Bitcoin as a legal tender , citing potential risks to financial stability and consumer protection. Illustration by Alex Castro / The Verge.