@Dracole23
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The United States recommends El Salvador regulate the use of bitcoin.
The United States Under Secretary of Public Affairs, Victoria Nuland, met with the President of El Salvador, Nayib Bukele. During the meeting, the official recommended the regulation of bitcoin once it becomes a national currency, as it is expected to become a reality next September 7, after the Bitcoin Law is fully regulated. The information was provided by France24 news agency yesterday, July 1, 2021. After the meeting, Nuland detailed the suggestion she made to the president of the Central American nation: *"I suggested to the president (Bukele) that whatever El Salvador decides to do, make sure that it is well regulated, that it is transparent and accountable, and that it is protected against malign actors."* The U.S. government official told El Salvador's head of state that the U.S. is taking "a hard look at bitcoin" following the Colonial Pipeline cyberattack. The ransomware attack against that U.S. pipeline located in the state of Texas occurred last May. It was attributed to a group of hackers known as DarkSide. This is a gang of cybercriminals characterized by requesting payments in bitcoin (BTC), or in cryptocurrencies such as monero (XMR). **United States: skeptical about bitcoin.** But it is not only because of this issue that the United States maintains a skeptical stance on bitcoin and cryptocurrencies. Authorities in that nation are uneasy about several issues including environmental impact, terrorist financing, market manipulation, and even the risk that cryptocurrencies could cause the United States to lose geopolitical influence by weakening the influence of the dollar. Bukele's move towards the adoption of bitcoin as legal tender has also generated diverse reactions among several international organizations. While the Central American Bank for Economic Integration has expressed its willingness to support El Salvador in this initiative, the World Bank, the International Monetary Fund (IMF), and the Inter-American Bank for Economic Integration (IDB) have not agreed. Private entities, such as JP Morgan, have also expressed skepticism. On the other hand, others believe that the adoption of BTC as legal tender in El Salvador could benefit the country. Among other things, because it would open the doors to foreign capital willing to invest and develop industries in the country and citizens could receive remittances quickly and cheaply.
1 comment
Like always trying to boss around independent countries, they don't understand that people around the world want to get rid of dollars because the rich and smart know that they are printing like there is no tomorrow. Besides, it is always good to be outside the reach of the US. And countries should try to run their own land as they see fit or as their citizens see fit. And since US citizens love to go to war every so often once a government goes rogue and becomes totalitarian they can go and put democracy back again with the vote of a gun barrel.