03.09.2021 News By George Gus

Salvadorans oppose bitcoin law

Salvadorans continue to rally against the bitcoin law. As September 7 approaches, more unrest occurs among people.

Most citizens oppose the bitcoin law because they believe it will facilitate money laundering and financing terrorist organizations.

70% of Salvadorans believe that the president should repeal the law. At the same time, the majority admitted that they were poorly versed in cryptocurrency.

Only 7.64% support the president’s actions.

El Salvador has been suffering from economic turmoil. Poverty and unemployment are focal issues. According to the protestors, the adoption of Bitcoin will only make matters worse.

According to the World Bank, 22.8% of El Salvador’s citizens live very poor. The average income of the population per year is 3800 thousand dollars.

Salvadorans are also skeptical about the Chivo government digital wallet. On August 30th, Nayib Bukele posted an ad for the cryptocurrency wallet on Twitter. The ad included a video tutorial on how to use the wallet. The next day, the president posted a photo of a bitcoin ATM. His tweets were received negatively and his rating has dropped.

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