El Salvador's Former Government Official Uses Spotlight to Reject Bitcoin

Alex Dovbnya

President Nayib Bukele is facing fierce opposition from his critics

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Fri, 13/08/2021 - 5:55

El Salvador's Former Government Official Uses Spotlight to Reject Bitcoin

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Eugenio Chicas, El Salvador’s former government minister, made his revulsion toward Bitcoin very clear during his recent appearance before the Special Commission of the Legislative Assembly that is investigating the allocation of funds to non-government organizations.

Taking advantage of the media attention, Chicas wore a neckless and a pin with the Bitcoin sign inside the circle-backslash symbol. He also brought several stickers to promote his “No to Bitcoin” campaign.

Fri, 08/13/2021 - 05:08

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As reported by U.Today, El Salvador is on track to become the first country to adopt Bitcoin as its legal tender this September after the country’s lawmakers passed President Nayib Bukele’s groundbreaking bill with a supermajority in early June.

While the decision was met with a flurry of excitement within the crypto community, an opposition party moved to challenge the Bitcoin law.

A recent survey also showed that the vast majority of Salvadorans were skeptical of the top cryptocurrency.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.