El Salvador becomes first country to make bitcoin legal tender
By AFP
10 September 2021 |
11:38 am
On 7 September 2021, El Salvador became the first country to embrace bitcoin as legal tender. Consumer demand saw its brand-new cyber wallet system crash on its first day of use as the currency's value seesawed against the US dollar. While thousands of Salvadorans are already using the cryptocurrency for everyday transactions, hundreds have taken to the streets to protest with concerns about the safety and legitimacy of the cyber currency.
In this article
Related
7 Aug 2021
America's top diplomat in Afghanistan, Ross Wilson, says that the first flight carrying Afghans who worked as interpreters for American troops and diplomats has arrived in the United States, the start of an operation to evacuate thousands from possible Taliban retaliation.
15 Aug 2021
One day after Zambians went to the polls, the capital of Lusaka sees sporadic fires and roadblocks in the Chibolya district. Police and military personnel have been patrolling the streets as the nation awaits for the results of a tightly contested election between President Edgar Lungu and long-time rival Hakainde Hichilema.
16 Aug 2021
Twitter founder Jack Dorsey has claimed that Bitcoin will "unite the world".
31 Aug 2021
As the deadline nears for the final US withdrawal from Afghanistan, cartoonists criticise foreign governments for leaving their Afghan allies behind. Elsewhere, with France's presidential election just seven months away, papers warn of "political chaos" from the crowded field of candidates. We also look at Lionel Messi's debut match with Paris Saint-Germain, as well as a devilish summer hairstyle.
11 Sep 2021
El Salvador has become the first country in the world to make Bitcoin legal tender, despite surveys showing widespread scepticism about the move. The government has invested more than $20 million in the cryptocurrency in recent days, saying it will open up access to banking for many Salvadorans. Bitcoin will be accepted for payments in parallel with the US dollar. Also today, millions of Americans have lost their unemployment benefits as several pandemic-era welfare programmes have expired.
11 Sep 2021
The value of Bitcoin has plunged by more than 10 percent after El Salvador on Tuesday became the first country in the world to accept the cryptocurrency as legal tender. The launch was marred by protests and technical difficulties with the digital wallet app, which had to be taken offline for several hours. Also today, we report on tourism businesses in the southwest of France that have benefitted from the recent spell of good weather, which has prolonged their summer season.
8 Sep 2021
El Salvador has become the first country in the world to adopt bitcoin as legal tender. The government says the cryptocurrency will save people money, but many residents are skeptical.
10 Sep 2021
On 7 September 2021, El Salvador became the first country to embrace bitcoin as legal tender. Consumer demand saw its brand-new cyber wallet system crash on its first day of use as the currency's value seesawed against the US dollar. While thousands of Salvadorans are already using the cryptocurrency for everyday transactions, hundreds have taken to the streets to protest with concerns about the safety and legitimacy of the cyber currency.
17 Sep 2021
A vibrant media landscape had developed in Afghanistan over the past 20 years. Since the Taliban takeover, media professionals face immediate danger and even death. Activists are urgently calling for help.
30 Sep 2021
Courting controversy at the outset of his third term, Albanian PM Edi Rama has set up a new state agency for media and information, or MIA. Skeptics decry it as a "propaganda ministry."
9 Oct 2021
Mikhail Saakashvili said he returned to Georgia in support of the opposition as local elections get underway this weekend. Current Prime Minister, Irakli Garibashvili, had vowed to arrest Saakashvili if he returned.
16 Oct 2021
Thousands of Salvadorans march in San Salvador against the use of bitcoin in the economy and against a decree that ordered the dismissal of a third of the nation’s judges.
Latest
1 day ago
Find these stories and much more when you grab a copy of The Guardian on Thursday.
1 day ago
Clashes between the Congolese armed forces and the M23 militia group have sent thousands of people over the border to Rwanda seeking shelter. Meanwhile, the UK and Rwanda are to settle 50 undocumented migrants who arrived on British shores in the Rwandan capital Kigali; we take a closer look. And Zimbabwe wants to sidestep international conventions to sell its $600 million stockpile in black market ivory – not without controversy.
1 day ago
The Russia House in Davos has always sold the Russia story to global investors, but now it's having to tell a rather bitter truth. In the absence of Russians, Ukraine is making sure Moscow's excesses are not forgotten.
1 day ago
A wave of protests swept across Iran as people went online to express their opposition to the death penalty given to three young Iranians for taking part in demonstrations last year.
1 day ago
The world is facing its worst food crisis in history. Millions of tonnes of wheat are stuck in Ukraine, worsening an already precarious situation for many countries that depend on exports from the region. IMF Managing Director Kristalina Georgieva tells FRANCE 24 Business Editor Kate Moody that only "very strong international mobilisation" will save the lives of millions of people. Also in our update from Davos: EU member states move towards an embargo on Russian oil, but with no consensus on the timeline.
1 day ago
Over two thirds of young Colombians say their lives have got worse over the past year, which saw a fierce crackdown on anti-government protests in a country still recovering from five decades of conflict. Six years after the peace deal with the FARC rebels, many young people are backing the former mayor of Bogota, Gustavo Petro, in the May 29 presidential election. If he wins, Petro would become Colombia's first-ever leftist leader. In this special edition of Inside the Americas, we meet several young Colombians who are hoping for change.