El Salvador's bitcoin adoption hit by an easy money-making loophole
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
El Salvador precocious became the archetypal state successful the satellite to marque bitcoin ineligible tender, but traders person been exploiting the authorities issued bitcoin "wallet app" to marque a speedy profit Technology 25 October 2021
By Luke Taylor
There person been protests against bitcoin successful El Salvador REUTERS/Jose Cabezas via Alamy
El Salvador’s determination to go the archetypal state successful the satellite to marque bitcoin ineligible tender connected 9 June has been met with protests and bedevilled by fraud, marketplace volatility and method glitches. Now the Central American federation has had to suspend a cardinal relation successful Chivo Wallet, its government-issued smartphone app utilized to store and speech bitcoin, due to the fact that economical traders were exploiting it to marque a profit.
El Salvador’s president, Nayib Bukele, has touted bitcoin arsenic a mode …
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