The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Bitcoin

El Salvador President Snaps Back at Economist’s “Crackpot BTC Law” Comments

by Miki 08/21/2021
by Miki 08/21/2021 0 comment

El Salvador, the small Central American Nation is all set to bring Bitcoin Law into effect from September 7. The Latin American country created history on June 9 after Congress approved Bitcoin as a legal tender. The bold decision was met with criticism from the likes of IMF, World Bank, and several other rating agencies. The latest to join the list is Steve Hanke, an economist at John Hopkins University.

Hanke criticized El Salvador President Nayib Bukele for continuing with his Bitcoin implementation plan, claiming the President is “playing with fire” that might burn El Salvador. He said,

“The StateDept sanctioned 14 El Salvadoran govt officials, WorldBank & IMF issued warnings, & ELSL’s bonds tanked. But Pres. Nayib Bukele has ignored these red flags & marches on with his crackpot Bitcoin Law. Bukele is playing with fire. ELSL will be burnt.”

The @StateDept sanctioned 14 El Salvadoran govt officials, @WorldBank & @IMF issued warnings, & ELSL’s bonds tanked. But Pres. @nayibbukele has ignored these red flags & marches on with his crackpot #BTC Law. Bukele is playing with fire. ELSL will be burnt.https://t.co/cqWHLvFyKW

— Steve Hanke (@steve_hanke) August 20, 2021

Bukele responded to the economist’s tweet calling him a “boomer.” President Bukele has faced a lot of criticism from around the world as well as from within the state. The opposition party in the country even filed a lawsuit to halt the Bitcoin law implementation citing economic imbalance.

Who is this boomer? https://t.co/jeoJZivYAY

— Nayib Bukele 🇸🇻 (@nayibbukele) August 20, 2021

President Bukele Has No Intentions to Stop Bitcoin  Implementation

The warnings from IMF and WorldBank were mainly regarding the ill effect of Bitcoin’s volatility on the lenders and the financial market. However, President Bukele has maintained throughout that the Bitcoin Law is no sham and hasn’t been passed just for the sake of the international press. Bukele believes BTC can solve El Salvador’s banking crisis where more than 70% of the population is unbanked.

He also launched a Bitcoin airdrop campaign to promote the use of Bitcoin wallet where each adult citizen would receive $30 worth of BTC. The Central Bank of the country recently released the first regulatory policy draft for the banks that included rules and regulations for engaging with Bitcoin and dealing with BTC transactions.



Source link

Views: 10
BTCCommentsCrackpotEconomistsLawPresidentSalvadorSnaps
Share
0
FacebookTwitterPinterestEmail
previous post
Dogecoin ($DOGE) Popularity Among New Investors Is Surging, Says New Research Report
next post
Bitcoin Stuck In The Clouds, But Brighter Days Could Be Ahead

Related Posts

Elon Musk thinks this individual could be the...

12/29/2021

Bitcoin price trades under $48k as $6 billion...

12/29/2021

Indian security regulator warns mutual funds against investing...

12/29/2021

Bitcoin Will Remain ‘Digital Gold’, But Not A...

12/29/2021

Key Factors that Propelled Ether’s 4X Growth over...

12/28/2021

Gold Proponent Peter Schiff Claims Bitcoin is Losing...

12/28/2021

Trend Is Again Shifting From Outflows To Inflows

12/28/2021

Why Bitcoin Will Never Surpass The Market Cap...

12/28/2021

Crypto hacks led to $9.8 billion in losses...

12/28/2021

Is Bitcoin (BTV) Going To Hit $100k? Ambitious...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Dogecoin Price Down 2.6% at $0.324

  • Dogecoin ($DOGE) Logo to Be Featured on Premier League Club’s Sleeves

  • Dogecoin Foundation Clarifies Its Relationship With Dogecoin 2.0

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,469.00-1.86%
  • ethereumEthereum(ETH)$2,006.49-0.40%
  • tetherTether(USDT)$1.000.25%
  • binancecoinBNB(BNB)$328.173.08%
  • usd-coinUSD Coin(USDC)$1.000.19%
  • rippleXRP(XRP)$0.415982-0.74%
  • Binance USDBinance USD(BUSD)$1.010.49%
  • cardanoCardano(ADA)$0.53-1.86%
  • SolanaSolana(SOL)$50.89-2.44%
  • polkadotPolkadot(DOT)$10.403.42%
  • dogecoinDogecoin(DOGE)$0.085193-0.50%
  • AvalancheAvalanche(AVAX)$30.54-2.23%
  • Lido Staked EtherLido Staked Ether(STETH)$1,964.75-0.01%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,393.00-2.08%
  • tronTRON(TRX)$0.0808644.47%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.0000121.21%
  • daiDai(DAI)$1.000.23%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$71.060.07%
  • CronosCronos(CRO)$0.190602-1.55%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.910.47%
  • matic-networkPolygon(MATIC)$0.670.15%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.07-1.16%
  • FTX TokenFTX Token(FTT)$30.08-1.41%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$195.50-0.71%
  • RareRare(RARE)$0.0461220.00%
  • cosmosCosmos Hub(ATOM)$11.683.03%