President Nayib Bukele Proposes First Bitcoin Bank in El Salvador | Firstpost America
President Nayib Bukele Proposes First Bitcoin Bank in El Salvador | Firstpost AmericaEl Salvador's President Nayib Bukele has proposed to set up a Bitcoin bank in the country. If the bill is passed, the private investment bank would offer Bitcoin investors more financial services than conventional banks. The bill comes just two weeks after Bukele was sworn in for his second presidential term following a landslide election win in February. The Salvadoran president's embrace of Bitcoin has been a bumpy ride since he made it a tender in 2021. He has planned a Bitcoin city, invested millions of dollars of taxpayers' money, and set up more than 200 Bitcoin ATMs across the country. However, nationwide adoption of the cryptocurrency remains low as citizens still prefer to do transactions in cash, despite Bukele's best efforts.
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