JP Morgan, the American multinational investment bank reacted to the recent adoption of Bitcoin as a legal tender by El Salvador. The bank compared the Central American nation’s move to dollarization in early 2000 by various countries. It also said the move seems growth-oriented. The bank released a note titled, ‘The Bitcoinization of El Salvador’
International Monetary Fund (IMF) has raised concerns over El Salvador’s adoption of Bitcoin as a legal tender. It said Bitcoin poses macroeconomics, financial and legal issues. IMF’s statement comes ahead of its meeting with Salvadoran president Nayib Bukele later on Thursday. Gerry Rice, an IMF spokesman said, “Adoption of bitcoin as legal tender raises several
Latin American country El Salvador is scripting a new history today! El Salvador President Nayib Bukele recently announced that the Bitcoin Law has been officially passed in the Salvadoran Congress with a strong majority of 62 votes. The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. 62 out of 84 votes! History!