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Top U.S. Diplomat Tells El Salvador’s President That Bitcoin Has to Be “Well-Regulated”

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Thu, 07/01/2021 - 05:34
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Alex Dovbnya
Victoria Nuland has discussed Bitcoin with President Nayib Bukele during a recent meeting
Top U.S. Diplomat Tells El Salvador’s President That Bitcoin Has to Be “Well-Regulated”
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U.S. Under Secretary of State for Political Affairs Victoria Nuland discussed El Salvador’s Bitcoin law with President Nayib Bukele during her June 30 visit to the tropical nation.

Nuland stressed that Bitcoin had to be “well-regulated” in the country:

So, I did suggest to the president that whatever El Salvador chooses to do, you ensure…that it is well-regulated, that is transparent, and that it is responsible, and you protect yourself against malign actors.

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She also mentioned that the U.S. was taking a “tough look” at crypto in the wake of recent ransomware attacks.

Nuland also hopes that El Salvador will be able to arrive at a common understanding with the International Monetary Fund when it comes to Bitcoin, Reuters reports.

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About the author

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.