This week’s roundup covers Mexico’s investigation into iris-scanning project Worldcoin, MicroStrategy CEO’s speech in Argentina, and more. María Corina Machado Proposes Bitcoin as Venezuela’s Reserve Asset María Corina Machado, leader of Venezuela’s opposition to Nicolás Maduro’s government, has introduced a bold proposal to tackle the country’s economic crisis: adopting Bitcoin …
legal tender
-
-
This move has sparked a phase of growth and development for the country, as it has become a model for crypto adoption and has drawn attention from global stakeholders. In honor of this milestone, Max Keiser, senior Bitcoin adviser to President Nayib Bukele, shared the administration’s vision for expanding Bitcoin …
-
El Salvador Celebrates 3 Years of Bitcoin: A Taxi Driver Became a Millionaire
by Zafar Naikby Zafar NaikToday Marks the 3 year anniversary of El Salvador declaring Bitcoin its legal tender. No other nation has shown this level of a gutsy move. El Salvador declared Bitcoin its legal tender on September 7, 2021 and following it, the Central African Republic did the same on April 22, 2022. …
-
SEC Might Challenge FTX Bankruptcy Estate From Paying Back Customers With Stablecoins
by Amitoj Singhby Amitoj SinghThe SEC has sought a change in the FTX’s bankruptcy plan. It wants the bankruptcy administrators to remove a discharge provision and said it may challenge distribution transactions involving crypto assets. The U.S. Securities and Exchange Commission (SEC) may have thrown a spanner in the wheels of the confirmation of …
-
LATAM Crypto Roundup: X (Twitter) Banned in Brazil, Worldcoin Sued in Chile, and More
by Lynn Wangby Lynn WangThis week’s roundup notes that Brazil’s government has banned X (formerly Twitter) due to its non-compliance with local regulations. Meanwhile, Chile has initiated a legal battle against Worldcoin due to concerns over biometric data, among other updates. Bitcoin Adoption in El Salvador: Progress or Setback? El Salvador’s President Nayib Bukele …
-
Russia will start its trial of cross-border payments using crypto next week. Recent statements from senior Russian leaders suggest the law’s purpose is to use crypto to counter sanctions. The law hands power to Russia’s central bank to oversee an “experimental” regime. Russia will begin trialing cross-border crypto payments next …
-
Although Bitcoin is regularly used by Salvadorans and businesses, overall adoption has not met initial hopes. Bukele Explains Why Bitcoin Did Not Achieve Widespread Adoption Bukele believes that slow adoption is because Bitcoin has always been a voluntary option in the country. “You can go to a McDonald’s, a supermarket, …
-
El Salvador President Nayib Bukele has been an outspoken and strenuous advocate for Bitcoin. While he has long battled with critics, he has now admitted that his Bitcoin experiment has not gone exactly as planned. In an interview with TIME magazine published Thursday, the “world’s coolest dictator”—as Bukele once described …
-
Bitcoin brought “branding, investments and tourism” to El Salvador, President Bukele said in a TIME Magazine interview. The crypto, though, hasn’t yet enjoyed the “widespread adoption” in the country as hoped for, he added. Under Bukele, El Salvador adopted bitcoin as legal tender and started purchasing it as a treasury …
-
El Salvador’s President Nayib Bukele revealed that the country has gained about $265 million after adopting Bitcoin as a reserve asset and legal tender. Bukele shared that El Salvador has invested $135 million in Bitcoin, which has since grown to $400 million in the public wallet alone. According to him, …