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World Bank won't help El Salvador in Bitcoin implementation

World Bank won't help El Salvador in Bitcoin implementation




From north america to central  america we are experiencing its first  major hurdle in becoming  world's first nation to start accepting  cryptocurrencies  el salvador has got a rejection now from  the world bank  for help on bitcoin implementation  before this the nation had become  first country to adopt bitcoin as legal  tender early this month  the global financial institution world  bank said it could not assist el  salvador's bitcoin  implementation given environmental and  transparency  drawbacks earlier yesterday salvadorian  finance minister  zelaya said country had sought technical  assistance  from the bank as it seeks to use bitcoin  as a parallel  legal tender alongside the us dollar the  minister also said ongoing negotiations  with the imf have been successful  fund said last week it saw macro  financial  economic and legal issues with countries  adoption of bitcoin  investors have recently demanded higher  premiums to hold  salvadorian debt on growing concerns  over the completion  of the imf deal and key to patching  budget gaps through  2023 el salvador this month became first  country to adopt  bitcoin as a legal tender with president  bukol  he touting the cryptocurrency's  potential as a remittance currency for  salvadorians overseas  this month he also pulled out of an  anti-corruption accord with the  organization of american states which  dismayed the us government  as washington looks to stem corruption  in central america  as part of its immigration policy.

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