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Strike CEO: El Salvador’s Bitcoin Experiment Isn’t Over
Published on september 30, 2022
In an interview this week, bitcoin payments firm Strike’s CEO said that El Salvador’s bitcoin-as-legal-tender experiment hasn’t hurt his company in any way, noting that its only involvement with the project was him giving President Nayib Bukele advice. He also said that he thought it had been a success, in a CoinDesk interview on Thursday […]
[...] Fitch Says Bond Buy Won’t Lower El Salvador’s Default Risk
Published on september 23, 2022
El Salvador has repurchased more than $500 million of its bonds at a huge discount, but that may not lessen its risk of a default at the beginning of 2023. While the country’s experiment with bitcoin as a legal tender has largely been a failure, with almost no one reportedly using the cryptocurrency as a […]
[...] El Salvador Weekly: What Disappearing Bitcoin ATMs?
Published on august 19, 2022
El Salvador’s finance minister, Alejandro Zelaya, said on Aug. 11 that “the Salvadoran population continues to use Bitcoin and the Chivo Wallet,” in the words of a local news outlet. Which led ElSalvador.com to suggest that his statement “could be far from reality” as a growing number of businesses around San Salvador have been pulling […]
[...] Colombia Eyes CBDC to Ease Transactions, Stop Tax Evasion
Published on august 17, 2022
Aiming to make transactions easier for consumers and to put an end to tax evasion, Colombia is reportedly considering introducing a central bank digital currency (CBDC). The information was shared by Luis Carlos Reyes, head of the Colombian Tax and Customs Office, according to a report by CoinDesk that cited an interview published in Spanish […]
[...] El Salvador Weekly: Four Questions for President Bukele on ‘Doubt’ Surrounding Bitcoin
Published on august 15, 2022
Salvadoran President Nayib Bukele added his voice to the bragging ministers after the United Nations World Tourism Organization’s (WTO) Aug. 1 World Tourism Barometer report placed El Salvador as one of only 16 countries that have seen their international tourism receipts fully recovered to pre-pandemic levels. While his ministers pointed to bitcoin, saying that crypto-based […]
[...] El Salvador Weekly: Tourism Minister Says Bitcoins Led to Spike in Visitors
Published on august 5, 2022
It’s hard to know whether they were spending bitcoins or dollars, but the amount tourists spent in El Salvador spiked to pre-pandemic numbers, according to the United Nations World Tourism Organization (UNWTO). In its Aug. 1 World Tourism Barometer report, the UNWTO listed El Salvador as one of 16 countries, ranging from Saint Lucia and […]
[...] El Salvador Weekly: Morgan Stanley Says Buy El Salvador Bonds (at 28 Cents on the Dollar)
Published on july 22, 2022
For months now, everybody’s been screaming that El Salvador’s bitcoin-as-currency experiment will bring the country’s economy down in ruins. Now Morgan Stanley has called time out, arguing that even if the Central American nation does default, at 28 cents on the dollar, 2027 Salvadoran bonds are too good a bargain to pass up, Bloomberg reported. […]
[...] El Salvador Weekly: President Bukele’s Bitcoin Policy Is ‘Magical Thinking’
Published on july 5, 2022
Giving Salvadoran President Nayib Bukele the courage of his convictions, bitcoin’s collapse below $20,000 from its November high of nearly $70,000 hasn’t dimmed his enthusiasm one bit. Bukele announced on Twitter on June 30 that the country had bought another 80 bitcoins at $19,000 each, coming in a little over $1.5 million. He wrote “#Bitcoin […]
[...] Today in Crypto: Fort Worth to Mine Bitcoin; Buenos Aires to Allow Crypto Tax Payments
Published on april 26, 2022
Ether has said it plans to do better at upping its status in the crypto world, though “the clock’s ticking,” Reuters reported Tuesday (April 26). Ether was supposedly weeks away from its June “merge,” which could make it faster, cheaper and less power hungry. The merge was purportedly going to see ether mining transition away […]
[...] Digitizing Payments in Latin America Playbook: Brazil Is Setting the Standard
Published on april 20, 2022
Open banking is an emerging practice in the financial sector these days, with consumers embracing the opportunity to control their financial data and prevent banks from blocking the movement of money between other financial services. Almost 4 out of 5 Brazilians (79%) compared to slightly more than half of Americans (51%), 3 out of 5 […]
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