October 26, 2021

News

Controlled News is Real News

El Salvador Becomes First Nation to Make Bitcoin Legal Tender Amid Growing Authoritarianism

2 min read

Thousands in El Salvador took to the streets Wednesday to protest President Nayib Bukele’s growing consolidation of power and a new law making El Salvador the world’s first country to recognize the highly volatile cryptocurrency bitcoin as legal tender. Protesters in El Salvador are also criticizing a recent court ruling that paves the way for Bukele to run for reelection in 2024. El Salvador’s turn to bitcoin comes as a “surprise” to many, but has been pushed by Bukele as a way to lessen remittance fees, says Jorge Cuéllar, an assistant professor of Latin American, Latino and Caribbean studies at Dartmouth College. “There’s no reason why bitcoin should be at the top of the government agenda in a moment of pandemic, of water stress, of food insecurity, of depressed wages,” Cuéllar says. “People are very suspicious of this.”

#DemocracyNow

Democracy Now! is an independent global news hour that airs on nearly 1,400 TV and radio stations Monday through Friday. Watch our livestream 8-9AM ET: https://democracynow.org

Please consider supporting independent media by making a donation to Democracy Now! today: https://democracynow.org/donate

FOLLOW DEMOCRACY NOW! ONLINE:
YouTube: http://youtube.com/democracynow
Facebook: http://facebook.com/democracynow
Twitter: https://twitter.com/democracynow
Instagram: http://instagram.com/democracynow
SoundCloud: http://soundcloud.com/democracynow
iTunes: https://itunes.apple.com/podcast/democracy-now!-audio/id73802554
Daily Email Digest: https://democracynow.org/subscribe

More from: Democracy Now!

Recent News

Controlled News © 2005 Area.Control.Network™ All rights reserved.
All Rights Reserved © 2020 - 2021 Area Control Network (ACN)
ACN News uses Area Control Network TOS and Privacy Policies that you must agree to to use this site.
Privacy Policies & TOS

ACN is part of Rich The Renegade Productions™ 💯