bitcoin as a legal tender

Bitcoin as a Legal Tender: What that Means for All of Us?

By Elena Obukhova, founder & CEO at FAS | Fintech Advisory ServicesWe all heard the recent news that El Salvador is to become the first country to use Bitcoin as a legal tender. What would that mean for the rest of the world? Honestly, I am not surprised that the first country to do so comes from Latin America. Countries in the region have been suffering from multiple crises and economic instability.  People started losing trust in the government and central banks. In 2001, for example, Argentina froze all bank accounts and only allowed small withdrawals from peso-denominated accounts. It was not the first case of the...

Bitcoin, Cryptocurrencies

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why is it so hard to ban bitcoin

Why is it so hard to ban bitcoin?

Tiena Sekharan, Tokenomics & Blockchain Consultant at FAS | Fintech Advisory ServicesIt is in the interests of central banks, legacy traditional banks, politicians, and weapons manufacturers to ban bitcoin. With bitcoin:* Central banks will no longer be able to control money supply which will make their role less consequential. * Traditional banks will see their role reduced as the peer-to-peer Bitcoin network does away with the need of an intermediary. They’d have less of an opportunity to earn yield on customer deposits as bitcoin makes it possible to self-custody and hold funds in one’s own digital wallet. Banks will...

Bitcoin, Crypto world

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