Despite repeated calls from the International Monetary Fund (IMF) urging El Salvador to abandon cryptocurrency as legal tender, the country has reaffirmed its commitment to accepting Bitcoin. El Salvador’s Vice President, Félix Ulloa, stated in an interview with Reuters on Wednesday that even as the IMF once again urged the country to relinquish cryptocurrency’s legal status, Bitcoin would remain El Salvador’s legal tender throughout President Nayib Bukele’s second term, during the bidding for a billion-dollar loan negotiation. El Salvador is set to hold elections on February 4th, electing the president, vice president, and all 60 representatives of the legislative assembly. Ulloa confirmed that the Salvadoran government has no intention of rescinding its decision to make BTC legal tender. He noted that the recent approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) further solidified their determination.
Wow completely forgot they’re still on this. Yikes.
Why is this a surprise though? We all know what kind of country El Salvador is…
What kind of country is El Salvador? What do you mean?
Er…it is widely known to be a corrupted country?
Doesn’t every country have some form of corruption?
I think what you’re referring to is its economic status. Right? It’s a rather poor country with little economic prosperity.
So, what about El Salvador’s corruption (vs any other country’s corruption) makes it less surprising they continue to use BTC as legal tender?
Every country has some form of corruption, but El Salvador is widely known to be one of the most corrupted countries…
Sometimes I wonder if you guys actually know what is going on in the world. Jesus.
Just for kicks, I actually checked the top 10 most corrupt countries in the world lol. El Salvador is #6, beat by Zimbabwe, Mexico, Colombia, Iran, and Russia. I guess @dushimes is asking, how come El Salvador is expected to have done that but not the others. But I guess from your end it’s like, “well they’re one of the most corrupt countries so anything goes”
And there it is. This is the tone I was expecting…
Predictable.
I certainly hope you don’t create a thread when you quit the forum.
P.S. How’s the weather in Japan these days?
Keep fighting, El Salvador, don’t give in to bullies, and If you pull the cover back on corruption, you might find America as the most corrupt country, but that’s another story.
Why are you upset?
Hi,
I’ve lived and worked in 8 countries in my life.
Lord Acton quote: “Power tends to corrupt and absolute power corrupts absolutely. Great men are almost always bad men, even when they exercise influence and not authority; still more when you add the tendency of the certainty of corruption by authority”.
In my limited experience I have found this to be true regardless of where the country ranks on the scale of corruption (the scale itself having been created by the great and good that would have you believe they are above corruption).
Discover who owns the Federal Reserve and the Bank of England, and see if you still think you wonder “if you guys actually know what is going on in the world”.
It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
– Henry Ford