El Salvador makes Bitcoin legal tender amid local doubts
11 September 2021 |
10:21 am
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.
Related
Related
12 Jun 2021
The Congress of El Salvador has approved a law that will classify bitcoin as legal tender in the Central American country, its president said, making it the world's first nation to adopt a cryptocurrency.
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.
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.
13 Jan 2022
An internet watchdog said an operator of the Israeli firm NSO Group's Pegasus was working almost exclusively in El Salvador in early 2020. El Salvador government denied using the sophisticated spyware.
20 Apr 2022
In September 2021, El Salvador became the first nation in the world to make bitcoin its official currency, along with the US dollar. The experiment in the small Central American country was considered groundbreaking by some and too risky by others. Seven months on, our regional correspondents take a look at how it has changed the lives of Salvadorians, for better or for worse.
22 Apr 2022
Although El Salvador has seen a fall in the number of homicides, the country suffers from another type of crime that the government avoids talking about. Gangs are stepping up kidnappings and forced disappearances, terrorising the most vulnerable, who increasingly end up dead. Faced with the authorities' silence, who keep no official register, victims' loved ones are speaking out. Our regional correspondents Laurence Cuvillier and Matthieu Comin report.
14 May 2022
A court in El Salvador has sentenced a woman to 30 years in prison because she suffered an obstetric emergency that ended her pregnancy. Abortions are banned in the Central American country.
10 Jun 2022
A weekly news show produced with photos, videos and personal accounts from FRANCE 24 Observers around the world – all checked by our staff here in Paris.
Latest
3 hours ago
After beginning a strike one week ago, the United Auto Workers union has increased the number of plants affected by industrial action. Until now, workers have been striking at three sites, one each for Ford, General Motors and Stellantis. UAW leader Shawn Fain says that will be increased to 38 factories, all of them GM and Stellantis parts distribution centres. Ford has been spared of further disruption, with the union saying the company has made "important concessions".
4 hours ago
This week in Across Africa, Georja Calvin-Smith speaks to Namibian President Hage Geingob ahead of his arrival in New York for the UN General Assembly. He shares his perspective on governance, the impact of Africa's first climate change summit and the role of the African Union in responding to regional upheaval.
4 hours ago
Megan Rapinoe has ended her US national team career with a 2-0 win over South Africa in Chicago. The 38-year-old ends her stint as an international with 63 goals, 73 assists and 203 caps, along with two world cups. Rapinoe made her debut for her country in 2006, with only three players having longer spells playing for the United States. "It has been such an honor to be able to wear this shirt, play with all these players and live out my childhood dream. I know that I mean a lot to the game.
6 hours ago
Grammy-winning artist Usher will headline the halftime show at the 2024 Super Bowl in Las Vegas, Nevada, the National Football League (NFL), Apple Music and label Roc Nation announced on Sunday. The 58th Super Bowl is scheduled to take place at Las Vegas' Allegiant Stadium on Feb. 11, 2024.
7 hours ago
Philippines and Chinese vessels face off in the South China Sea, marking the latest in a series of confrontations over competing territorial claims in the important maritime passageway.
7 hours ago
The White House is warning of severe economic consequences if Congress fails to pass a funding bill by an October 1 deadline. Far-right House Republicans are demanding deep spending cuts that are almost certain to be rejected by the Democratic-controlled Senate. Also in this edition: France asks its energy firms to sell fuel at cost, and Germany looks to semiconductor production to revive its flagging industrial sector.