El Salvador’s bitcoin adoption hit by a easy money-making loophole

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El Salvador’s bitcoin adoption hit by a easy money-making loophole

El Salvador’s bitcoin adoption hit by a easy money-making loophole

El Salvador currently grew to change into the first nation on the planet to make bitcoin exact relaxed, but traders had been exploiting the deliver issued bitcoin “wallet app” to make a rapid profit

Technology



25 October 2021

By Luke Taylor

stickers used as part of a campaign against the use of Bitcoin as legal tender

There had been protests towards bitcoin in El Salvador

REUTERS/Jose Cabezas thru Alamy

El Salvador’s circulate to change into the first nation on the planet to make bitcoin exact relaxed on 9 June has been met with protests and bedevilled by fraud, market volatility and technical system defects. Now the Central American nation has had to slump a key diagram in Chivo Wallet, its authorities-issued smartphone app extinct to retailer and change bitcoin, because financial traders were exploiting it to make a profit.

El Salvador’s president, Nayib Bukele, has touted bitcoin as a formula …

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