Cryptocurrency Analysis and News Portal
Members of the executive board at the International Monetary Fund are urging lawmakers in El Salvador to no longer recognize Bitcoin as legal tender.The IMF reported on Tuesday that though digital payments had the potential to increase financial inclusion in the Central American nation, the use of Bitcoin (BTC) as
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The executive board of the International Monetary Fund recommended that El Salvador discontinue the use of bitcoin as legal tender in in the country due to the financial risks and liabilities created.The recommendation came in a report issued on Tuesday following bilateral discussions with El Salvador about its economy.IMF directors
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The Kingdom of Tonga may adopt bitcoin as legal tender, according to a former member of Tonga’s parliament, Lord Fusitu’a, who tweeted about a possible timeline for this event to occur. Fusitu’a believes that by next fall a bill will be passed by Tonga’s parliament and bitcoin could be legal
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The CEO of financial advisory and asset management firm Devere Group has predicted that three countries will adopt bitcoin as legal tender this year. He is more bullish than El Salvador’s president who predicted that two countries will make bitcoin their national currency. 3 Countries Will Adopt Bitcoin as Legal Tender
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El Salvador President Nayib Bukele tweeted his forecasts for Bitcoin in the year on New Year’s Day 2022, making some rather bullish predictions. Bukele Make Bullish Predictions On Bitcoin Under Bukele’s presidency, El Salvador became the first government to embrace Bitcoin as legal tender last year as a countermeasure to the country’s
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El Salvador’s president has made six predictions relating to bitcoin for 2022. He expects two more countries to adopt bitcoin as legal tender this year. Meanwhile, he expects El Salvador’s Bitcoin City to commence construction during the year and his country’s volcano bonds to be oversubscribed. Bitcoin Predictions 2022 by President
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The Twitter account of Indian Prime Minister Narendra Modi was comprised and a tweet was posted claiming that the government of India has adopted bitcoin as legal tender and purchased 500 coins to distribute to all residents in the country. This hack came at a critical time in India as
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The governor of the Bank of England, the country’s central bank, has voiced concerns about El Salvador choosing bitcoin as a national currency. Citing a recent warning by the International Monetary Fund (IMF) against bitcoin’s use as legal tender, the governor said: “What would worry me most of all is,
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Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin (BTC) as legal tender after President Nayib Bukele announced the launch of Bitcoin City.Bailey argued that El Salvador’s decision to adopt Bitcoin as a currency was alarming because consumers are likely to suffer from the
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Although the IMF’s technical analysis did not include the bond announcement, the financial institution said that El Salvador’s plans to buy more bitcoin following the bond issuance, along with increasing its bitcoin exposure, “will require a very careful analysis of implications for, and potential risks to, financial stability.” Original Source
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