The Pigeon Express
The International Monetary Fund’s board urged El Salvador to strip Bitcoin of its status as legal currency due to its large risks, highlighting a major obstacle for the nation’s efforts to get a loan from the institution. El Salvador last year sought a $1.3 billion IMF loan, but talks have been stymied by the lender’s […]
El Salvador plans to build a Bitcoin city at the base of the Conchagua volcano, with the cryptocurrency used to fund the project, its president has announced. The city will be circular to represent the shape of a large coin and will be built in the south-eastern region of La Unión, President Nayib Bukele said. […]
Bitcoin tumbled more than 10% on Tuesday, below the $43,000 mark. The volatile cryptocurrency saw huge sell off as El Salvador made good on a plan announced in June and adopted the cryptocurrency as legal tender, making it the first country in the world to do so. The move received some criticism in El Salvador, […]
El Salvador became the first country to adopt bitcoin as a national currency on Tuesday. President Nayib Bukele announced late Monday that his government has purchased another 200 bitcoins ahead of El Salvador’s formal adoption of the currency. El Salvador now holds 400 bitcoins, which are worth nearly $21 million at current trading levels. Bitcoin […]
El Salvador will become the first country in the world to recognize Bitcoin as legal tender from 7 September. The government has presented the measure as a way to boost economic development and jobs. Polls suggest Salvadorians are not prepared for the move, and the World Bank has warned against its adoption. Analysts say it […]
El Salvador passed legislation to make Bitcoin – the largest of all the cryptocurrencies – as legal tender. It accepted the proposal of President Nayib Bukele to recognise Bitcoin as a medium of exchange to facilitate online transactions. The Central American nation became the first ever country around the globe to take this step. Why […]
El Salvador approved a proposal from President Nayib Bukele for a law to classify Bitcoin as legal tender, making the Central American nation the first in the world to do so. A majority of lawmakers voted in favour of the initiative late on Tuesday to create a law that will formally embrace the cryptocurrency, despite concern […]
El Salvador could become the first country in the world to make Bitcoin crypto-currency legal tender in the country. President Nayib Bukele said Bitcoin will make it easier for Salvadorans living abroad to send payments home. He said he would send the legislation to congress next week. Should it pass, the move would open up […]
Forensic workers unearthed the remains of multiple victims from a grisly crime scene in El Salvador, digging up more bodies on Friday from a pit at the home of an ex-police officer suspected of murdering and burying potentially dozens of women. Earlier officials said the remains of at least 24 people had been found from […]
At least ten buried bodies of seven women and three children were discovered on the property of a former police officer in El Salvador. Hugo Osorio Chavez Osorio, 51, is being investigated on suspicion of sexual crimes and 13 murders, the country’s attorney general’s office said. He was originally arrested last Saturday for the murder […]
An Olympic surfing hopeful from El Salvador died while training for an upcoming qualifying competition, the country’s surfing federation announced. Katherine Diaz, 22, was in the water at El Tunco beach in southwest El Salvador on Friday when she was struck by lightning, the country’s federation said. She just had entered the water to start […]
Armed soldiers and police officers accompanied El Salvador’s President Nayib Bukele as he stormed the nation’s parliament on Sunday afternoon. The president demanded that opposition lawmakers vote to approve his plan to secure a $109 million loan that he says would be used to better equip military personnel and law enforcement officers in their job of tackling […]