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Bitcoin: El Salvador’s cryptocurrency gamble hit by trading loophole

by Crypto News
October 25, 2021
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Bitcoin: El Salvador’s cryptocurrency gamble hit by trading loophole
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El Salvador just lately turned the primary nation on the earth to make bitcoin authorized tender, however merchants have been exploiting the state issued bitcoin “pockets app” to make a fast revenue



Technology



25 October 2021

By Luke Taylor

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

There have been protests in opposition to bitcoin in El Salvador

REUTERS/Jose Cabezas by way of Alamy

El Salvador’s transfer to change into the primary nation on the earth to make bitcoin authorized tender on 9 June has been met with protests and bedevilled by fraud, market volatility and technical glitches. Now the Central American nation has needed to droop a key operate in Chivo Pockets, its government-issued smartphone app used to retailer and change bitcoin, as a result of financial merchants had been exploiting it to make a revenue.

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





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