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World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan

World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan



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16 Comments

  1. >“While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”

    environmental and transparency shortcomings? You absolute shit-heeled hypocrites.

  2. tldr; El Salvador has passed a law to accept bitcoin as legal tender alongside the US dollar. The country receives $6 billion in remittances per year, and the hope is that bitcoin’s lower transaction costs could boost that amount by a few percentage points. The IMF is considering a $1.3 billion financing request from the country

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

  3. “You say, ‘The price of my love’s not a price that you’re willing to pay’…

    You’ll be back, soon you’ll see. You’ll remember you belong to me. You’ll be back, time will tell. You’ll remember that I served you well.”

  4. > The World Bank was less generous. “We are committed to helping El Salvador in numerous ways, including for currency transparency and regulatory processes,” a World Bank spokesperson told Reuters. “While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”

    Doesn’t seem that harsh. They just don’t want to assist the rollout which is totally reasonable.

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