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Money crypto currency as a means of payment: This country wants to officially accept Bitcoin

13:40  09 june  2021
13:40  09 june  2021 Source:   ksta.de

A third of Britons would consider cryptocurrency if it was regulated

  A third of Britons would consider cryptocurrency if it was regulated Some 34% of Britons, and three-quarters of people in their thirties familiar with the likes of bitcoin, ethereum and dogecoin said consumer protections would make them likelier to invest. According to exclusive research carried out for This is Money by cryptocurrency exchange Coinbase, half of those surveyed aged between 30 and 39 also said more accessible information would make them more interested in investing.

El Salvadors government has introduced a law initiative for the use of the crypto currency Bitcoin as a legal tender in parliament. Shortly thereafter, the Members of the Financial Committee gave their consent on Tuesday evening (local time) as Parliament announced on Twitter. The ruling party Nuevas Ideas (new ideas) has been a two-thirds majority in parliament since May, which consists of only one chamber.

Nachgemachte Münze mit Bitcoin-Logo © DPA Immediate coin with Bitcoin logo

The bill provides that in the Central American country every dealer must accept bitcoin as a means of payment, which is technically capable of. Also taxes can be paid in the crypto currency. There should be no capital gain tax on the exchange of Bitcoins.

Bukele builds on Bitcoin

 Bukele builds on Bitcoin El Salvadors President Nayib Bukele likes to be modern and unconventional. Even with the topic of Bitcoin, he dares a daring push. © Nicolas Armer / dpa / Picture Alliance actually hard to grasp: (Collector) coin with the Bitcoin logo The Central American El Salvador wants to make the crypto currency Bitcoin a legal tender. He will introduce a legal draft law in the Congress next week, announced Nayib Bukele in a video message to the "Bitcoin 2021 Conference" in Miami.

The exchange rate to the US dollar will decide the market freely. The law should come into force 90 days after it appears in the Official Journal. El Salvadors President Nayib Bukele had announced the step last Saturday in a video message to a Bitcoin conference in the USA.

bitcoin is subjected to violent price fluctuations

bitcoin is the most famous digital currency . It is not controlled by a central bank, but created by a decentralized and enormous energy-intensive computer process. The crypto currency is considered a speculative object and is subjected to violent price fluctuations.

Since 2001, El Salvador has no longer used a domestic currency, but the US dollar. As a result, the country depends on the US Federal Reserve monetary policy.

For economic growth of the nation, it is necessary to allow the circulation of a digital currency whose value depends solely on market economy criteria, it is said in the legal text. In addition, about 70 percent of the approximately six million inhabitants El Salvadors have no access to traditional financial services. (dpa)

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This is interesting!