El Salvador will stay committed to bitcoin after election: Vice president - Times of India
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SAN SALVADOR: Bitcoin will remain legal tender in El Salvador during the second term of President Nayib Bukele , his vice president said on Wednesday. Days before an election Bukele is expected to handily win thanks to a draconian gang crackdown, Felix Ulloa - temporarily on leave to run for re-election with Bukele - doubled down on the Central American nation's adoption of the cryptocurrency as legal tender. The declaration comes after the International Monetary Fund (IMF) asked El Salvador to "reconsider" the measure during negotiations for a billion-dollar loan, Ulloa said. The government has no intention of reversing the decision, Ulloa said, adding that the recent announcement by the US Securities and Exchange Commission (SEC) to allow US-listed exchange-traded funds (ETFs) that track bitcoin only strengthened its resolve. A decade in the making, ETFs have been judged a game-changer for bitcoin, offering investors exposure to the world's larg...