El Salvador recently became the first country in the world to make bitcoin legal tender, but traders have been exploiting the state issued bitcoin “wallet app” to make a quick profit
25 October 2021
By Luke Taylor
There have been protests against bitcoin in El Salvador
REUTERS/Jose Cabezas via Alamy
El Salvador’s move to become the first country in the world to make bitcoin legal tender on 9 June has been met with protests and bedevilled by fraud, market volatility and technical glitches. Now the Central American nation has had to suspend a key function in Chivo Wallet, its government-issued smartphone app used to store and exchange bitcoin, because economic traders were exploiting it to make a profit.
El Salvador’s president, Nayib Bukele, has touted bitcoin as a way …
Existing subscribers, please log in with your email address to link your account access.
Inclusive of applicable taxes (VAT)