Malaysia should make digital currencies legal tender, Ministry proposes
The Deputy Minister for Communications told parliament that the ministry has proposed making digital currencies legal tender and hopes the gov’t agrees.
The Deputy Minister for Communications told parliament that the ministry has proposed making digital currencies legal tender and hopes the gov’t agrees.
El Salvador’s authoritarian president is none too pleased with U.S. politicians’ plan to monitor his country’s half-baked adoption of the BTC token as legal tender.
Enterprise blockchain services provider TAAL made history this week when it mined the biggest Bitcoin block at 3.87GB, which had 188,000 transactions and collected 9.7 BSV in fees.
The IMF says that El Salvador is at a heightened risk with its financial and market integrity, financial stability, and consumer protection, but President Nayib Bukele is unmoved.
The latest blow to the BTC circus in El Salvador is the mysterious loss of funds from the state-issued Chivo wallets, which the vocal president is quiet about.
El Salvador actually signed a deal with the Algorand blockchain to handle their national blockchain infrastructure because BTC and Lightning Network* are both incapable of handling the traffic.
Currently, Bitcoin City is more style than substance, as more thought has apparently gone into imagining a central plaza shaped like the BTC logo than to more mundane items such as sewage flow.
The Zimbabwe government is reportedly in consultation with the private sector on possibly making BTC legal tender like in El Salvador, but this would be a mistake.
President Andres Manuel Obrador has made it clear that the country doesn’t intend on accepting digital currencies as payments any time soon.
Following the bold steps of El Salvador, countries in Central America such as Honduras and Guatemala are looking into analyzing digital currencies with a goal to adopt them.
El Salvador continues to face setbacks after the historic official BTC adoption rollout.
The comments from Deputy Chairman Behzod Khamraev came after El Salvador adopted BTC as a legal tender, which led to significant protests and unrest in the country.