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…
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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…
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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…
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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The Salvadoran Volcano Bonds might be launched in Q1 2024, Unblock Global raised $15 million for a flare gas mining project in Vaca Muerta, and Argentine President Javier Milei axes ministries to reduce…
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Discussion on the Volcano Bonds, a series of digital debt instruments that would be used to finance the creation of Bitcoin City, has resurfaced after their regulatory approval in El Salvador. The Bitcoin Office in the country revealed that it anticipated a launch date of Q1 2024 for these bonds. Volcano Bonds Might Be Issued…
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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…
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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…
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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…
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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…
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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…
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