John Dennehy on Nostr: Recent changes to Bitcoin policy in El Salvador... - Bitcoin is no longer legal ...
Recent changes to Bitcoin policy in El Salvador...
- Bitcoin is no longer legal tender (effective 30 April)
- The govt can no longer accept Bitcoin as payment for anything (effective 30 April)
- the govt can not 'accumulate' bitcoin in any way, this includes stopping any public mining (effective unknown)
- the govt will have to dox all their bitcoin address and holdings (to the IMF for sure, unclear if this will be made public as well)
- Chivo, the govt bitcoin app, will be wound down (by end of June)
the reason?
El Salvador is heavily in debt, which contrary to govt posturing, has INCREASED significantly in recent years and as a lender-of-last-resort the IMF was able to attach basically whatever conditions they wanted to the loan
the future?
Bitcoin never needed this govt or any other govt. It should be as clear as ever that if we want a better world, it is up to us to create it. Support independent & impartial bitcoin education
- Bitcoin is no longer legal tender (effective 30 April)
- The govt can no longer accept Bitcoin as payment for anything (effective 30 April)
- the govt can not 'accumulate' bitcoin in any way, this includes stopping any public mining (effective unknown)
- the govt will have to dox all their bitcoin address and holdings (to the IMF for sure, unclear if this will be made public as well)
- Chivo, the govt bitcoin app, will be wound down (by end of June)
the reason?
El Salvador is heavily in debt, which contrary to govt posturing, has INCREASED significantly in recent years and as a lender-of-last-resort the IMF was able to attach basically whatever conditions they wanted to the loan
the future?
Bitcoin never needed this govt or any other govt. It should be as clear as ever that if we want a better world, it is up to us to create it. Support independent & impartial bitcoin education