Friday, July 09, 2021

Adoption of Bitcoin as Legal Tender in El Salvador Is Seen as Unwise by 77% of Residents

THE RIO TIMES: Last June 9, the Legislative Assembly approved the Bitcoin Law, which gives legal tender to this crypto-asset together with the US dollar.

RIO DE JANEIRO, BRAZIL – The adoption of bitcoin as a legal tender in El Salvador is seen as a poor or unwise decision by 77.5% of the population, according to a university survey released this Thursday.

The Centro de Estudios Ciudadanos (CEC) survey of the Universidad Francisco Gavidia (UFG) shows that 24 % consider the decision as not correct and 53.5 % as not correct at all. In comparison, 12.9 % say it is correct and 6.5 % very correct.

Last June 9, the Legislative Assembly approved the Bitcoin Law, which gives legal tender to this crypto-asset together with the US dollar.

The initiative, which does not include other cryptocurrencies or the underlying projects, was approved with the votes of 62 of the 84 deputies in the Parliament, with a large majority of the ruling party, without further debate or parliamentary discussion.

The measure, which generated doubts among local banks and the population due to the limited information disclosed by the Government, will come into force next September 9. » | Latin America News | Friday, July 9, 2021

More El Salvador news here »