EL Salvadorians Go On The Streets In Protest Against Adoption Of Bitcoin As Legal Tender

EL Salvadorians Go On The Streets In Protest Against Adoption Of Bitcoin As Legal Tender

Despite a three-month restriction on protests, a group of El Salvadorians comprised of leftist unions, student organisations, and others gathered at the Legislative Assembly to denounce the country’s acceptance of Bitcoin as its official currency.

El Salvadorians Are Divided On Bitcoin Adoption

A group of demonstrators gathered outside El Salvador’s National Assembly to express their displeasure with President Nayib Bukele’s Bitcoin Law, which would make bitcoin (BTC) legal tender as of September.In the country’s media, opposition voices have made their emotions known, with most of them critical to Bukele and what they see as an increasingly dictatorial rule.
Bukele used his Nuevas Ideas party’s huge majority in the assembly to practically steamroll the measure through parliament in a matter of days. Efforts by the opposition to use the courts to stop the bill have so far failed, however critics claim this is partly due to Bukele’s replacement of formerly hostile judges with legal experts sympathetic to his populist cause.
Following Bukele’s meteoric climb to the top of Salvadorian politics, left-wing parties in the country have become fragmented and disorganized. However, as many polls revealed that the majority of El Salvadorians oppose the BTC law, they have attempted to coalesce under the banner of opposition to the law. Many company owners are put off by the prospect of being forced to accept BTC payments if clients demand it. This BTC can, however, be promptly turned into USD if desired.

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