The tiny Pacific nation of Tonga could have Bitcoin as legal tender by Q2 and Bitcoin mining by Q3 of 2023. Lord Fusitu’a, a former member of the Tongan parliament, has shared a timeline for the country’s plan to adopt Bitcoin (BTC). A Tongan nobleman, Fusitu’a had previously disclosed the four-step plan, a copy of…
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Indira Kempis, a senator representing the Nuevo León state in Mexico, is working on a crypto bill based on El Salvador’s Bitcoin Law. Amid El Salvador reporting on cases of the positive impact of the country’s Bitcoin (BTC) adoption, a government official in Mexico has once again urged that the country should follow El Salvador’s…
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El Salvador’s tourism has grown more than 30% after adopting bitcoin as legal tender, according to the country’s ministry of tourism. “Cryptocurrency multiplies the opportunities to do business with more partners anywhere in the world,” the Salvadoran government explained. El Salvador’s Economy Boosted by Bitcoin Law The Salvadoran government has outlined some economic benefits resulting…
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Salvadoran President Nayib Bukele previously announced that El Salvador’s GDP grew over 10% in 2021. El Salvador’s adoption of Bitcoin (BTC) as legal tender in September 2021 has triggered a notable surge not only for its gross domestic product but also for the local tourism development. According to El Salvador’s tourism minister Morena Valdez, the…
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The 52 proposed legal reforms call for less bureaucracy, less red tape, creating tax incentives to make El Salvador one of the most freedom-centric countries. El Salvador President Nayib Bukele wants to offer citizenship to those who invest in the small Central American nation. President Bukele took to Twitter to inform the crypto community on…
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Several U.S. lawmakers have introduced a bill to mitigate the risks from El Salvador adopting bitcoin as legal tender. “El Salvador recognizing bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests,” said a U.S. senator. US Concerned About Risks From El Salvador’s Bitcoin Law The U.S. Senate Committee on…
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Weeks after memeing the International Monetary Fund (IMF), El Salvador’s outspoken President Nayib Bukele has upped his Twitter game by responding “OK boomers” to a group of United States senators moving to block his bitcoin (BTC) adoption plans…. Read More: US Senators Call for El Salvador Bitcoin Adoption Probe, Bukele Responds with ‘OK Boomer’…
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Harry Hobbs, Senior Lecturer, the University of Technology Sydney. _____ Late last year, El Salvador’s president Nayib Bukele announced plans to build “Bitcoin City” – a tax-free territory in the country’s east. The city will use bitcoin (BTC) and be powered by the nearby Conchuagua volcano. According to Bukele, there will be:… Read More: Bitcoin…
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The Turkish government is working on plans to get its citizens to hand in ‘under the mattress’ gold in its latest scheme to prop up the value of its national currency, the lira. But according to some, the country would have been much better off had it just embraced bitcoin (BTC)…. Read More: Turkey…
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One of the largest rating agencies in the U.S., Fitch Ratings, has downgraded El Salvador’s long-term default rating deeper into junk status, citing risks from adopting bitcoin as legal tender as a key reason. “The adoption of bitcoin as legal tender has added uncertainty about the potential for an IMF program that would unlock financing…
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