World Bank wants no part in El Salvador’s Bitcoin revolution
El Salvador’s Bitcoin revolution hits a brick wall as the World Bank refuses to help with technical infratsructure, the World Bank has refused to assist El Salvador with integrating Bitcoin into its financial infrastructure, a report on Reuters said today.
The Central American country made history last week as it passed a bill making Bitcoin legal tender. However, since then, several authorities, including the IMF, have poured cold water on the idea.
With the World Bank also shunning Bitcoin, it’s clear that global governments are not on board with financial freedom.
The World Bank says no to Bitcoin
The World Bank said it would not help El Salvador’s implementation of Bitcoin due to the “environmental and transparency shortcomings” of the leading cryptocurrency.
A World Bank spokesperson confirmed that the organization remains committed to supporting El Salvador in many ways for currency transparency and regulation. But that offer doesn’t extend to assisting with Bitcoin implementation.