Steve Hanke, who served as a senior economist under President Ronald Reagan’s administration from 1981 to 1982, has warned that El Salvador’s decision to authorize bitcoin as legal tender has the potential to “completely collapse the economy.” The economist had previously described BTC as a speculative asset “with a fundamental value of zero,” and in […]

Steve Hanke slammed El Salvador’s Bitcoin adoption as legal tender, and questioned how Bitcoin would function in day-to-day transactions.

Dante Mossi, president of The Central American Bank for Economic Integration (CABEI), confirmed in a press conference that the institution will support El Salvador’s efforts to enforce its Bitcoin Law. The new legislation was recently approved by this country’s congress and has caused different reactions from international bodies. However, Mossi praised the Bitcoin Law and […]

The head of Italy’s securities market regulatory body Commissione Nazionale per le Società e la Borsa (CONSOB), has expressed concern over the lack of regulation for cryptocurrency, stating that the continuous use of unregulated crypto assets poses certain risks. Consob Chairman Calls for Robust Crypto Regulatory Framework According to Reuters on Monday (June 14, 2021),Read More

In a recent episode of crypto-focused show “Delta-Fi” by Hxro Labs, the pseudo-anonymous (“Crypto Messiah”) said that he expected several other countries to follow El Salvador’s lead and make Bitcoin legal tender. As reported by The Daily Hodl, he said: “It’s the first domino in a string of many disenfranchised nations and then maybe, other […]

The Central American Bank of Economic Integration (CABEI) said it will work with El Salvador to implement BTC as its legal tender.

The Central American Bank for Economic Integration (CABEI) has come forward to help El Salvador with the technicalities of Bitcoin implementation as a legal tender. Dante Mossi, the chief of CABEI said they will be select a first-rate technical team that would work with the Salvadorian government to implement the changes. Mossi said, The signal

The post CABEI Comes to El Salvador’s Rescue Amid IMF Concerns, Offers to Assist in BTC Implementation appeared first on Coingape.

According to JP Morgan, the decision of El Salvador to make bitcoin legal tender will have no economic implications.

JP Morgan is criticizing El Salvador’s decision to adopt Bitcoin (BTC) as a legal tender. In a report titled “The Bitcoinization of El Salvador” shared by Documenting Bitcoin on Twitter, the banking giant says that the Central American nation’s recent embrace of Bitcoin is not motivated by stability concerns. The bank adds that the move may […]

The post JP Morgan Hammers El Salvador’s Move To Embrace Bitcoin As Legal Tender appeared first on The Daily Hodl.

Last week, El Salvador passed the historic Bitcoin law making it the first country to make Bitcoin a legal tender. Soon as the Bitcoin law comes into action in the next 90 days, merchants will start accepting it against their goods and services. However, the International Monetary Fund (IMF) raised objections citing legal and economic

The post Max Keiser Suggests El Salvador to Float Bitcoin ‘Volcano Bonds’ to Retire the IMF Loans appeared first on Coingape.

After El Salvador made Bitcoin a legal tender, many countries like Mexico, India and Iran are planning to open up crypto regulations in their country.

Bitcoin (BTC) Price Prediction – June 12, 2021 About 48 hours ago, Bitcoin bulls failed to sustain above the $38,000 high as Bitcoin revisits $30,000 [...]