. With remittances contributing to the economy in a big way, digital currencies can not only help financial inclusion but also achieve cost savings on remittance fees.
Both El Salvador and CAR have identified that they want to make money transfers into the country cheaper. El Salvador’s president Nayib Bukele projected a $400 million saving with remittances as the country moves to Bitcoin infrastructure. UsingOn a macroeconomic basis, the currencies of these countries have generally struggled to hold value against the U.S. dollar. El Salvador switched to using the USD as its currency but soon realized that most of its exports were to the U.S.
The narrative that most of these countries have for adopting bitcoin is the lower cost of remittances to a highly unbanked population. This might be a shallow reason as most of these countries have very low digital and mobile penetration. Therefore, unless they can set upall over the country, it wouldn’t be practical for them to scale BTC as a default currency.
On another note, Bitcoin regulations are largely driven by national regulators. Due to the decentralized nature of the cryptocurrency, banning BTC in one national jurisdiction does not directly affect its legal status in another jurisdiction. Yet, when a country like the U.S. comes hard on cryptocurrencies through regulations, the market reacts to it. The price action that results can affect all countries that use Bitcoin as legal tender or as a reserve currency.
they can't make it illegal unless they make the internet illegal. That's the beauty of it
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Elsalvador but with the cryptocom power soon the World BTC CRO crofam
Doesn’t matter it’s on Life-support
wwhy media is silent abouut this
BTC soon will reach $35,000
It's always good to have another way to pay
I’d go to Lugano and spend my USDT there.
Nobody. understands my great concern that I can no longer work and that I can no longer earn any money due to an accident.Can you help me ? In BTC ? KEY : 3En7FaKLP8jCAiv8RBXpJXQnh6UrAJniTs Please for me
What we really need is financial products which are secure and licensed. I know Probinex1 is working on something like that. Now, when regulations are coming across the board, this products will be needed and wanted more than ever. 😉
58 rooms 500 a room that’s some nice cheese every month
Well, in Lugano you can use BTC as legal tender thanks to Tether.
Im tryin im not tryin to travel anywhere. Thinking of buying the buiding i live in
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