{"id":8399,"date":"2021-06-17T17:54:43","date_gmt":"2021-06-17T17:54:43","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/world-bank-refuses-to-help-el-salvador-make-bitcoin-legal-tender-citing-environmental-and-transparency-issues\/"},"modified":"2021-06-17T17:54:43","modified_gmt":"2021-06-17T17:54:43","slug":"world-bank-refuses-to-help-el-salvador-make-bitcoin-legal-tender-citing-environmental-and-transparency-issues","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/world-bank-refuses-to-help-el-salvador-make-bitcoin-legal-tender-citing-environmental-and-transparency-issues\/","title":{"rendered":"World Bank Refuses to Help El Salvador Make Bitcoin Legal Tender Citing Environmental and Transparency Issues"},"content":{"rendered":"<p><strong>The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender. The bank cited bitcoin\u2019s \u201cenvironmental and transparency shortcomings\u201d as the reason.<\/strong><\/p>\n<h2>World Bank Won\u2019t Help El Salvador With Bitcoin Law<\/h2>\n<p>The World Bank said on Wednesday it cannot help El Salvador implement the law making bitcoin legal tender. A World Bank spokesperson told Reuters, \u201cWe are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes,\u201d elaborating:<\/p>\n<p>While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.<\/p>\n<p>El Salvador has become the first country in the world to make bitcoin legal tender after its congress <a href=\"https:\/\/news.bitcoin.com\/el-salvador-bitcoin-law-making-btc-legal-tender-passes-with-supermajority\/\">passed<\/a> President Nayib Bukele\u2019s bitcoin bill last week.<\/p>\n<p>On Wednesday, The finance minister of El Salvador, Alejandro Zelaya, said that the country has sought technical assistance from the World Bank to implement the law to use bitcoin as parallel legal tender alongside the U.S. dollar.<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>Zelaya also said that the International Monetary Fund (IMF) is \u201cnot against\u201d El Salvador implementing bitcoin as legal tender after he explained that his country will not abandon the U.S. dollar. \u201cWe gave our official position to the IMF. We have been emphatic, we are not replacing the US dollar as legal tender in El Salvador,\u201d the finance minister said during a news conference. However, an IMF spokesperson <a href=\"https:\/\/news.bitcoin.com\/imf-concerns-el-salvador-making-bitcoin-legal-tender\/\">said<\/a> there are \u201cmacroeconomic, financial and legal issues\u201d with El Salvador\u2019s bitcoin law.<\/p>\n<p>Meanwhile, the Central American Bank for Economic Integration (CABEI), which has 15 member countries, said it <a href=\"https:\/\/news.bitcoin.com\/central-american-bank-for-economic-integration-help-el-salvador-implement-bitcoin-as-legal-tender\/\">will provide<\/a> technical assistance to help El Salvador implement bitcoin as legal tender. CABEI Executive President Dante Mossi said he is very optimistic about this move by El Salvador.<\/p>\n<p><em><strong>What do you think about the World Bank refusing to help El Salvador? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, imf bitcoin, imf crypto, imf cryptocurrency, imf el salvador, the world bank, World Bank, world bank bitcoin, world bank crypto, world bank cryptocurrency, world bank el salvador<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender. The bank cited bitcoin\u2019s \u201cenvironmental and transparency shortcomings\u201d as the reason. World Bank Won\u2019t Help El Salvador With Bitcoin Law The World Bank said on Wednesday it cannot help El Salvador implement the law making bitcoin legal&hellip;<\/p>\n","protected":false},"author":0,"featured_media":8400,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8399","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\/8399"}],"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=8399"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8399\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8400"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}