Categories: Market

El Salvadorans protest against Bitcoin, Chivo wallet ATMs burn on Independence Day | Sept 16

Many El Salvadorans took to the streets on Wednesday (September 16) on the 200th anniversary of the country’s independence to protest President Nayib Bukele and the Bitcoin law.

Some extremists set fire to Chivo Wallet’s Bitcoin ATM in the capital, San Salvador.

People burn Bitcoin ATMs in the capital, San Salvador

El Salvador officially recognized Bitcoin as legal tender on September 7th, marking a historic event.

President Nayib Bukele criticized the protesters, saying they were vandals on Twitter.

https://twitter.com/nayibbukele/status/1438252113272918022?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
There have been protests against the Bitcoin law since July and August. But yesterday’s protest was the most violent, with thousands of citizens taking to the streets.

El Salvadorans are not only against the Bitcoin law, but also against President Bukele, who some believe has reduced the power of the national courts and gained too much power in his hands.

Although Bukele was previously highly praised in opinion polls for improving security in the country, he was most recently criticized for his monopoly.

With the Bitcoin law announced by Bukele in June and passed by lawmakers shortly afterwards, companies must accept Bitcoin payments if they have the technology. Citizens are not required to use Bitcoin but are encouraged as those who sign up to use Chivo, the government’s official cryptocurrency wallet, will be rewarded with $ 30 in Bitcoin. Chivo has encountered a number of technical issues since Bitcoin was accepted as a legal currency in the country.

Investment banks like JP Morgan, US officials and even the World Bank have criticized El Salvador’s Bitcoin law – arguing that it will be difficult to implement.

Today’s protests are proof that they can be right.

We invite you to join our Telegram for faster news: https://t.me/coincunews

Mr. Teacher

After decryption

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

4 hours ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

4 hours ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

7 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

9 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

12 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

13 hours ago

This website uses cookies.