A document has recently been published in which multiple Salvadoran officials have been blacklisted by the United States in the fight against corruption.
Salvador announced the entry of bitcoin as a legal tender on 06/25/2021 which caused many problems such as the loss of credits that were pending with the international monetary fund.
Many of its inhabitants have the feeling of being robbed of their money because they cannot get it out of the ATM since it does not have liquidity all the time.
Why Nayid Bukele, opts for cryptocurrencies.
Mainly in his speech made at the national level he maintains.
Remittances at zero cost sending money from abroad, in addition to the opportunity of little friction exchange commenting that the cost is 0 in exchanging bitcoin for U.S. dollars.
Wester Union and Moneygram charge around 5% flat plus an additional amount, taking away the wealth of people sending their money to El Salvador.
He also added that it is an opportunity for the country to generate tourist circuits with its multiple beaches throughout its territory.
Bitcoin is recognized worldwide as an asset, no doubt someone will come to the country to occupy its various tourist areas.
Honduras has been a participant country in the different escalations in migratory waves to the United States in recent years raising the need for its inhabitants to find opportunities.
Their currency DXY against the US has been stable in recent months, showing that this decision has not deeply affected their overall economy.
What do you think about this measure, I value your comments very much.