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El Salvador Minister denies local reports, too early to use Bitcoin for wages

El Salvador Minister denies local reports, too early to use Bitcoin for wages



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7 Comments

  1. Of course it is. Look, bitcoin is great and all, but how do you expect such a volatile currency to be the standard for a country. With time I think this will come, but for now, no.

  2. “In a recent report by Diario El Mundo, a local El Salvador news portal, it was mentioned that Rolando Castro, Minister of Labor and Social Welfare, stated the Executive is analyzing the possibility that salaries are paid in bitcoins.

    Salaries are being analyzed by the Minister of Finance, the Ministry of Economy and in due course, there will be a full meeting with the government cabinet to define these types of monetary aspects that have to do with the legislation that has been approved in the Legislative Assembly, but it is still too early to be able to advance criteria.

    Further stating, Minister Castro maintained that there is optimism about the future of the Bitcoin Law and its impact on the economy, which he said will have positive effects. The official considered that the implementation of the said legal framework will boost investment and employment.”

  3. tldr; El Salvador’s Minister of Labor and Social Welfare, Rolando Castro, has denied reports that his ministry has begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and Ministry of Economy on Monday. He said it was “too early to talk about salaries” and that the monetary issue corresponds to the economic cabinet of which he is not a member of.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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