Crypto Countdown: Bitcoin Will Soon Become Legal Tender in El Salvador Amid Backlash

Crypto Countdown: Bitcoin Will Soon Become Legal Tender in El Salvador Amid Backlash


El Salvador is pushing through with its plan to make Bitcoin (BTC) legal tender in seven days despite backlash from opponents of the move.

In footage captured by Sharjah24 News, protesters who appear to be war veterans and ex-military express opposition to the new law spearheaded by President Nayib Bukele.

 

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Banners read “Veterans and former combatants demand that President Bukele respect the institution and the benefits of law” and “The working class rejects cryptocurrency. No to Bitcoin.”

Other signs declared “No to Bitcoin. No to money laundering.”

A local survey conducted by the Universidad Francisco Gavidia suggested that the majority of El Salvadorans are skeptical of their president’s decision and do not understand cryptocurrency. Retirees and pensioners are also worried about being forced to receive their pensions in BTC. 

In an address last week, Bukele clarified that the use of BTC will be optional for citizens. He also said the move was partially an attempt to keep

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