Business

In world first, bitcoin becomes legal tender in El Salvador

El Salvador on Tuesday became the first country to embrace bitcoin as legal tender, with consumer demand crashing its brand-new cyber "wallet" system even as the currency's value seesawed against the US dollar.

Business

Bitcoin proves double-edged sword for criminals

Regulators have repeatedly criticised the growth of cryptocurrencies such as bitcoin because of their popularity with criminals but the technology's transparent transactions can also work against law breakers.

Business

'It's robbery': Salvadorans slow to adopt Bitcoin

Two years ago, El Salvador shrugged off a chorus of warnings and adopted Bitcoin as legal tender in a bid to revitalize its economy and improve access to financial services.

Business

IMF urges El Salvador against using bitcoin as official currency

The International Monetary Fund on Monday warned El Salvador against using bitcoin as official tender given the risks associated with the cryptocurrency, a day after the country announced plans for the world's first "Bitcoin ...

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