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Nayib Bukele angry at asking for information on cryptocurrency in El Salvador, US

The government of El Salvador has launched a bitcoin wallet called Chivo. El Salvador says its economy has strengthened and tourism has increased since bitcoin legalized.

El Salvador President Nayib Bukele has expressed his displeasure over the US asking for information about his country’s financial situation. “The US government is not in favor of freedom,” he said. El Salvador granted legal status to Bitcoin last year. The US Senate wants to understand and reduce the risk to their country’s economy from this. 

The “Accountability for Cryptocurrencies in El Salvador (ACES) Act” has been passed in the US. El Salvador uses the US dollar as its currency. El SalvadorThe legalization of bitcoin to the U.S. may have some impact on the US economy that the Senate wants to understand. Chengpeng Zhao, CEO of Binance, one of the major crypto exchanges, is visiting El Salvador these days and Bukele has a meeting with him. “I never thought what we’re doing here would scare the US government,” Bukele said in a post on Twitter. The United States has given El Salvador a 90-day period to report changes in financial status due to the legalization of

bitcoin . Bukele’s meeting with Zhao is likely to lead to talks about bitcoin bonds. Bukele continues to support the crypto industry, despite the International Monetary Fund (IMF) condemning the legalization of bitcoin.

The IMF has asked El Salvador to close the $150 million bitcoin trust fund and return unused funds to its Treasury. The purpose of the trust fund was to allow people concerned with using bitcoin to automatically convert it into dollars. However, Bukele continues to promote the use of bitcoin. The government of El Salvador has launched a bitcoin wallet called Chivo. El Salvador says its economy has strengthened and tourism has increased since the legalization of bitcoin. There has also been a warning from the European Union regarding cryptocurrencies. Its regulators recently said that people investing in cryptocurrencies should be prepared to lose all their money. 

 

 

News Source: hindi.gadgets360.com

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