El Salvadorians protest against the adoption of BTC as a means of payment – Bits Media

Rapid adoption of the law, recognizing bitcoin as legal tender in El Salvador, was poorly received by some citizens. Protests against bitcoin were held in the country.

Group of citizens of El Salvador, composed of leftist unions and student associations, She protested against the recognition of bitcoin by the legal means of payment in Salvador, Gathering from the Legislative Assembly of the country. The action was held despite a three-month ban on protests in order to prevent the spread of Covid-19.

Group, organized by the "block of resistance and popular uprising", used banners and slogans demanding the cancellation of the law, which makes BTC a legal payment tool and obliges the company to accept it for payments. According to earlier estimates, about 77% Salvadortsev opposed the law.

“This law gives rise to legal insecurity and can be used to deceive users, as well as to facilitate money laundering and assets ", – stated
activist Idalia Zuniga (Zuñiga Idalia).

Another participant in protests expressed
Bitcoin price concern.

“For those, who receives minimal wages, This is critical. At one point you may have $300 в BTC, And the next day these $300 can turn into $ 50 ", – She said, Noting the fall in the price of BTC from the maximum in $63 595 In April to $30 000 In July.

Protesters also recalled the control of President Nayib Buhlet (Here's to watching) over all branches of the Salvador Government, which led to the rapid adoption of the law. The bill should usually undergo the process of studying, consultations and adaptations, Whereas the law on the adoption of bitcoin as a payment fund was approved in less than six hours from that moment, how the book officially introduced it to Congress. Although the law is already approved, He will enter into force through 90 days after acceptance. Salvadors will be required to accept BTC for payments from September.

Recall, that in June the book recognized
Bitcoin by a legal payment vehicle in the country. However, the World Bank, IMF and other major organizations critically reacted to this step. for instance, The World Bank refused
Salvador in the help of the integration of bitcoin into the financial system. According to the recent report
Analysts JPMorgan, The use of BTC in the economy of Salvador is faced with obstacles, which indicates possible "restrictions" of the use of a cryptoactive as a payment means.