"If it's not possible now, it'll never be possible," Musk said of his proposal to simply ignore all federal regulation as a baseline.

He’s just going to get people killed. But that’s ok he doesn’t give a shit anyways, so it’s moot. What are a few thousand dead peasants when we could make big stock number go up?

  • eagleeyedtiger@lemmy.nzEnglish
    11·
    21 hours ago

    That’s hopeful to hear, but just reading the article, two things stand out:

    The reform eliminated the word “currency” when referring to bitcoin, but says it is “legal tender.” Despite the lack of clarity, it lifts, as required by the IMF, the obligation to accept it in transactions or debt payments, a key condition for it to be “legal tender,” according to economic analysts. With the change, “if someone owes you money and wants to pay you in bitcoin, you can refuse to be paid in bitcoin, but you cannot refuse if it’s legal tender,” economist Carlos Acevedo explained.

    The government, she assured, will continue buying bitcoin and having reserves in this cryptocurrency. According to the National Bitcoin Office, El Salvador has 6,050 bitcoins worth $634.8 million. “President Bukele continues buying bitcoin, we have a Bitcoin Office, we have the Bitcoin Law, bitcoin can be used in El Salvador. It hasn’t been an easy road,” Mayorga summarized.

    They are just removing it as “legal tender” to meet the conditions for an IMF loan and will continue investing in bitcoin.