El Salvador Tourism Sector Records 30% Growth, Attributes It to Bitcoin

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Recent reports from the El Salvador government show that the nation’s tourism sector has grown by over 30% in the last five months since the enactment of the Bitcoin Law last September. The announcement came from El Salvador’s Ministry of Tourism earlier this week, attributing the tourism influx increase to the Bitcoin Law, which saw […]

El Salvador Bitcoin Law: US Senators Propose Bill to Counter Risk from El Salvador BTC Adoption

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The US Senate Committee Foreign Relations released on Wednesday that Senators Risch (R-Idaho), Bob Menendez (D-N.J.), and Bill Cassidy (R-La.) recently introduced a bill dubbed the “Accountability for Cryptocurrency in El Salvador Act’’ (ACES Act). Per the announcement, the proposed bill mandates a report from the State Department regarding El Salvador’s recent adoption of Bitcoin […]

IMF Calls on El Salvador to Cut All Ties with Bitcoin

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According to a publication released on Tuesday by the International Monetary Fund (IMF), the organization has urged El Salvador should end its relationship with Bitcoin (BTC). The IMF urged the Central American nation to expunge the Bitcoin law as soon as possible. The report detailed that IMF board members have “urged the authorities to narrow […]

El Salvador Buys the Bitcoin Dip Amid Intense FUD-Induced Sell-Off

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As the crypto market continues to cave under the prevailing FUD pressure, El Salvador has bought the Bitcoin (BTC) dip again. The Central American nation took advantage of the heightened sell-off to purchase 100 more BTCs amid panic over the new “Omicron” variant of the COVID-19 virus. President of El Salvador Nayib Bukele took to […]

Bitcoin City: El Salvador Doubles Down on Bitcoin Adoption Projects

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Only a few months after officially adopting Bitcoin (BTC) as legal tender, El Salvador has announced plans to build a “Bitcoin City” with help from Blockstream and Bitfinex. Meanwhile, official sources have revealed that the country could add $500 million more BTC to its holdings. During a week-long BTC conference, President Nayib Bukele announced plans […]

Bitcoin Suffers Crash Below $60K as Nayib Bukele “Buys the Dip,” Again

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El Salvador President Nayib Bukele has taken advantage of the recent Bitcoin (BTC) dip again, as he purchases more coins amid an intense selloff. President Bukele announced via Twitter that he bought 420 more BTC, a meme number associated with the marijuana community, another humorous gesture. While the Bukele did not publish TXID, the President […]

El Salvador to Offer Bitcoin Tax Exemptions to Incentivize Foreign Participation

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To incentivize foreign cryptocurrency investment into the country, the government of El Salvador has announced that foreign investors will receive immunity on Bitcoin (BTC) profits taxation. The announcement came from a government adviser last Friday. In an interview with Agence France-Presse (AFP), the legal advisor to President Nayib Bukele, Javier Argueta, noted that: “If a […]