World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan

World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan

3 years ago
Anonymous $LNMzUc6XNz

https://arstechnica.com/tech-policy/2021/06/world-bank-slams-bitcoin-declines-to-help-el-salvadors-cryptocurrency-plan/

Last week, El Salvador’s government passed a law to accept bitcoin as legal tender alongside the US dollar. The country receives $6 billion in remittances per year—nearly a quarter of its gross domestic product—and the hope is that bitcoin’s lower transaction costs could boost that amount by a few percentage points.

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