Jul 3, 2021 11:44 UTC
Jul 3, 2021 at 11:44 UTC
US State Department Official wants Central American country to ‘Ensure Bitcoin Is Well Regulated’
The U.S. Department of State’s secretary of state for political affairs, Victoria Nuland, has explained throughout a press conference that the U.S. has urged EI Salvador to be accountable with the country’s new bitcoin law. Nuland told the press that the U.S. was taking a “tough check out Bitcoin” which Salvadoran president Nayib Bukele has to “ensure that it’s well regulated.”
State Department Official Says American nation Is Taking a troublesome check out Bitcoin
According to statements from a senior U.S. State Department officials, the U.S. hopes EI Salvador are going to be accountable with the country’s new bitcoin tender law enacted on June 9, 2021. The secretary of state for political affairs , Victoria Nuland, explained that she had a gathering with the Salvadoran president Nayib Bukele and that they mentioned the crypto plus bitcoin (BTC). The yank diplomat stressed to Bukele that once the Colonial Pipeline ransomware case, the U.S. was taking “another robust check out bitcoin.”
“I did counsel the president that no matter what EI chooses to try and do, you make sure that it’s well regulated, that it’s clear which it’s accountable, and you defend yourself against malign actors,” Nuland told reporters at the press conference.
El Salvador has had problems obtaining world leaders to accept as true with the new bitcoin tender law’s advantages. The planet Bank rejected a call for participation from a EI Salvador for help and also the president of the European Central Bank (ECB), Christine Lagarde, recently mentioned the topic with disparagement. At the time, Lagarde reiterated that the ECB’s policy toward bitcoin (BTC) has not been modified. Benoit Coeure, head of the Innovation Hub at the Bank for International Settlements (BIS) jointly criticized Salvadoran president Nayib Bukele’s bitcoin tender law.
US State Department Claims fourteen Salvadorans related to President Nayib Bukele ‘Corrupt and Undemocratic’
In addition to the senior U.S. State Department official’s statements once meeting with Bukele, the U.S. The State Department named fourteen Salvadorans that are members of the Bukele regime as “corrupt” and “undemocratic actors.”
This announcement has created people to suppose that the U.S. is cracking down on EI Salvador for selecting to leverage bitcoin. “Unconventional Warfare (UW) in action,” explained the favored anonymous analyst plan B on Twitter. “See link below for what happens to countries that refuse IMF demands [and choose] freedom,” plan B tweeted.
Economist Steve Hanke: ‘State Department Is Wielding the Hammer’
Even the economist expert Steve Hanke said: “First, it absolutely was El Salvador’s Bitcoin Law. Now, the State Department is wielding the hammer.” Hanke has warned that Salvadoran bitcoin adoption may lead to a “complete collapse of the economy.” Moreover, Hanke and 2 more authors that publish papers on applied economics at Johns Hopkins University wrote a paper that says: “El Salvador’s bitcoin law is destined to be caught within the FATF’s restrictive internet.”
“Under the Bitcoin Law, EI Salvador can beyond any doubt be ensnared in the Financial Action Task Force’s internet of rules,” Hanke explained on Twitter. “In this operating paper, I determine 27 of the FATF’s ‘red-flag’ behaviors which will be not possible for El Salvadorans to go with.” Victoria Nuland’s recent comments and also the U.S. State Department’s “Corrupt and undemocratic Actors Report” suggests that American bureaucrats agree with Hanke’s opinion.