Community post
Which country will be the next to make Cryptocurrency a legal tender after El Salvador?
El Salvador is a small country in Central America.It is bordered on the west by Guatemala, on the East by Honduras and on the South by the Pacific Ocean.
In September 2021, the crypto trading president of the country who is popular among crypto enthusiast Nayib Bukele make his the first to allow consumers to use Cryptocurrency as a means of payment for goods and services.
However, the country faces many criticism from every angle most especially the International monetary fund (IMF) sighting the risk. Despite the warning according to Bloomberg the nation bought and store at least $1801bitcoin.
Thanks.
Replies (4)
The IMF are just trying to protect their paymasters and keep their ability to interfere in other countries' economic policies.
As for which other countries will make crypto a legal tender; I reckon look for small countries that are not friends with the United States but are also not too closely aligned with any particular other power bloc. Places like the Seychelles and Maldives are a good possibility.
It is also worth looking at countries which might not make an actual policy decision, but where the citizens make it a fair accompli, either because the economy is in trouble, because the government is relatively weak or distracted, or because the banking system has done something to show ordinary citizens it is not to be trusted. Canada, Ukraine and Russia are already some way down that path, and places like Haiti, Somalia and Ethiopia are good possibilities.
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