Sign up to read our regular email newsletters
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
There have been protests against bitcoin in El Salvador
REUTERS/Jose Cabezas via Alamy
El Salvador’s move to become the first country in the world to make bitcoin legal tender on 9 June has been met with protests and bedevilled by fraud, market volatility and technical glitches. Now the Central American nation has had to suspend a key function in Chivo Wallet, its government-issued smartphone app used to store and exchange bitcoin, because economic traders were exploiting it to make a profit.
El Salvador’s president, Nayib Bukele, has touted bitcoin as a way …
Subscribe for unlimited digital access
Subscribe now for unlimited access
Existing subscribers, please log in with your email address to link your account access.
Inclusive of applicable taxes (VAT)