{"id":8362,"date":"2021-06-17T01:54:16","date_gmt":"2021-06-17T01:54:16","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/central-american-bank-for-economic-integration-to-help-el-salvador-implement-bitcoin-as-legal-tender\/"},"modified":"2021-06-17T01:54:16","modified_gmt":"2021-06-17T01:54:16","slug":"central-american-bank-for-economic-integration-to-help-el-salvador-implement-bitcoin-as-legal-tender","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/central-american-bank-for-economic-integration-to-help-el-salvador-implement-bitcoin-as-legal-tender\/","title":{"rendered":"Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender"},"content":{"rendered":"<p><strong>The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. \u201cWe\u2019re very optimistic,\u201d he said.<\/strong><\/p>\n<h2>Central American Bank for Economic Integration Supports El Salvador\u2019s Bitcoin Law<\/h2>\n<p>The head of the Central American Bank for Economic Integration (CABEI) expressed his support for El Salvador\u2019s bitcoin law Monday. CABEI Executive President Dante Mossi said that the bank will give El Salvador technical assistance to implement bitcoin as legal tender. Last week, El Salvador became the first country in the world to <a href=\"https:\/\/news.bitcoin.com\/el-salvador-bitcoin-law-making-btc-legal-tender-passes-with-supermajority\/\">pass a law<\/a> making the cryptocurrency legal tender.<\/p>\n<p>The CABEI has 15 member countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Dominican Republic, Belize, Mexico, Republic of China (Taiwan), Argentina, Colombia, Spain, Cuba, and Korea. The bank\u2019s objective is to \u201cpromote the economic integration and the balanced economic and social development of the Central American region,\u201d its website details.<\/p>\n<p>Mossi said his organization will work with El Salvador\u2019s finance ministry and central bank to select a team to work on the implementation, Reuters reported.<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>Mossi believes that the move to make bitcoin legal tender would offer many benefits to people in El Salvador. For example, it would lower the cost of remittances for relatives of Salvadorans living abroad, he explained, adding:<\/p>\n<p>We\u2019re very optimistic.<\/p>\n<p>The CABEI executive president also called on El Salvador\u2019s government to develop a regulatory framework for bitcoin in order to prevent \u201cbad actors\u201d from taking advantage of the system\u2019s anonymity, the publication conveyed.<\/p>\n<p>Following El Salvador\u2019s move to make bitcoin legal tender, lawmakers in a number of Latin American countries have <a href=\"https:\/\/news.bitcoin.com\/latin-american-countries-bitcoin-adoption-el-salvador-bitcoin-law\/\">expressed their interest<\/a> in bitcoin. The countries include Paraguay, Argentina, Panama, Brazil, and Mexico. Moreover, Tonga and Tanzania have also reportedly expressed interest in bitcoin.<\/p>\n<p><em><strong>Do you think other CABEI member countries will follow El Salvador\u2019s lead and make bitcoin legal tender? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, bitcoin legal tender, cabei, Central American Bank for Economic Integration, El Salvador, implement bitcoin, member countries<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. \u201cWe\u2019re very optimistic,\u201d he said. Central American Bank for Economic Integration Supports El Salvador\u2019s Bitcoin Law The head of the Central American Bank for Economic Integration&hellip;<\/p>\n","protected":false},"author":0,"featured_media":8363,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8362"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8362"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8363"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}