...
...
Mike Grants

Jun 28, 2021

El Salvador to Airdrop $30 in Bitcoin to All Citizens

pOn June th El Salvador made international headlines passing a law to becoming the first sovereign country to accept Bitcoin as legal tender With Bitcoin as legal tender merchants in the country would have to accept Bitcoin for payments alongside the US dollar The bill was passed by a supermajority and is set to come into effect on September ppLast Thursday we got more details on the rollout plan from El Salvador President Nayib Bukele He highlighting an airdrop of in Bitcoin for all citizens of El Salvador The government will use thenbspa hrefhttpsfinanceyahoocomnewselsalvadorrevealsofficialbitcoinhtml targetblankChivo ewalleta preloaded with US of bitcoin for everyone who downloads it The in bitcoin will be sent to users wallets once they verify their identities via the apps face recognition software according to a video of Bukele presenting the feature on FridayppnbspppstrongBrut Force Mass AdoptionstrongppWhile many around the world have rejoiced El Salvadors decision to make Bitcoin legal tender the news regarding the airdrop has stirred up the opposition for privacy advocates By forcing citizens to verify identity via facial recognition this is seen by some as just another tool for mass government surveillance and some have even argued it violates El Salvadors constitutionppnbspppstrongTaking the Good With the BadstrongppAny effort to get Bitcoin in the hands of all a nations citizens is definitely a step in the right direction However as Bitcoin continues its ascent to global adoption it will not be able to maintain the anonymity and privacy that was envisioned by Satoshi KYC and AML laws have done a lot to ensure the safety of consumers and organizations but they do fly in the face of the initial ideals of Bitcoinp

Top News


cw-icon Just now
Read more latest news

Press Releases

...
Terra
Do Kwon Trial Begins Despite The Founder

8 months ago Mar 26, 2024

The civil fraud trial involving Ter... Read more

...
Goldman
Goldman Sachs Clients Look To Get Back

8 months ago Mar 25, 2024

Institutional clients served by the... Read more

...
Payments
New Payment Limit For Crypto Wallets Scrapped

8 months ago Mar 25, 2024

The recent Anti-Money Laundering re... Read more

...
Bitcoin
Bitcoin Undergoes Price Correction As International Economies

8 months ago Mar 24, 2024

A significant portion of the crypto... Read more

Join Our Newsletter

Get the latest trends and updates on our crypto community.