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June 28, 2022
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Streets of El Salvador receive anti-bitcoin protest

Not everyone in El Salvador is convinced by the government’s decision to make bitcoin legal.

In recent days, the streets of El Salvador have witnessed a peaceful protest against the law passed by the government of Nayib Bukele.

As shown by the images published by La Pressa Grafica, a group of citizens, including union representatives and student associations, called for the repeal of the law, claiming that it was imposed without consultation with the population.

Banners signed by Resistencia e Rebeldia read We don’t want Bitcoin in El Salvador (We don’t want bitcoin in El Salvador).

In fact, the protest was also directed at the Bukele government, which is considered a regime. This is demonstrated by the presence of another banner that read: Resistencia y rebeldia popular contro el regimen de Bukele (People’s Resistance and Rebellion against the Bukele regime).

According to Idalia Zuniga, an activist with the Bloc de Resistencia y Rebeldía Popular, this law is wrong. She said during the demonstration:

“It is a law that creates legal uncertainty and can be used to defraud users and facilitate money laundering, and there is also a popular refusal to accept this unheard law.”

In fact, among the main objections is the fact that the law did not pass the local parliament for approval.

According to La Prensa Grafica, a survey of students reveals that 77.5% of them consider the government’s decision to be unfair.

Legal Bitcoin in El Salvador

When Nayib Bukele announced last June that the bitcoin would become legal tender, he also indicated the reasons. El Salvador’s economy depends on remittances from the United States. Bitcoin shipments, instead of dollars, would save on commission costs.

In addition, bitcoin will be legal tender, but will not replace the US dollar (the current currency used in El Salvador). On the contrary, the dollar and bitcoin will coexist.

In addition, a special wallet was developed to facilitate dissemination: when downloading, all users will have 30 dollars in bitcoin.

From September, all of this will be a reality and it remains to be seen the impact it will have on the population. And, above all, whether the circulation of bitcoin will convince even skeptics.

Source: cryptonomist

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