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32 Central Banks & 12 financial agencies Bitcoin meeting in El Salvador

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32 Central Banks & 12 financial agencies Bitcoin meeting in El Salvador 11

The president of El Salvador announced the upcoming meeting of several Central Banks to discuss Bitcoin adoption.

El Salvador is the first country in the world, which adopted Bitcoin as a legal currency on 7 September 2021. However, the Bitcoin adoption path was not easy for the president of El Salvador but still, he happily faced every criticism and took the Bitcoin adoption initiative toward the multiple development works. 

On 12 May, Nayib Bukele, president of El Salvador, took to Twitter to inform his followers that 32 Central Banks & 12 Financial authorities will participate in a meeting in El Salvador to discuss the adoption of Bitcoin to bank the unbanked population.

In the list of Central Banks, there are almost every Central Bank, which has even a small interest in blockchain technology.

In the list of Central Banks, El Salvador’s president added Nepal Rastra Bank & Bangladesh Bank. These two Central Banks are popularly known as critics of cryptocurrencies. In the past, Crypto was banned by Bangladesh and also there was a provision to sentence Bitcoin investors to jail.

On the other hand, Nepal is also known as the biggest critic of cryptocurrencies. The majority of the experts say that it remains not easy for the government agencies of Nepal to handle the perfect regulation on the crypto-related activities, so Nepal always remains against Cryptocurrencies.

In April of this year, Nepal Telecommunications Authority issued a public warning against the crypto activities and claimed that all are illegal. Agency also emphasized that websites, apps, and online networks related to crypto activities are prohibited to be used, operated, or managed within the country.

But this latest effort by El Salvador to push these countries toward bitcoin adoption may change the game. However, it will be too early to comment on the Bitcoin adoption by such countries more likely to El Salvador but still, here few Central Banks of highly crypto-friendly countries seem much near to becoming another example of El Salvador.

Read also: Binance CEO Denies past investment in 2nd Investment Round of Terra

32 Central Banks & 12 financial agencies Bitcoin meeting in El Salvador

 

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