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The Salvadoran government is imposing sanctions for entrepreneurs who refuse to accept BTC!

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El Salvador and BTC
El Salvador and BTC. Source: Shutterstock, Ink Drop

What the opposition in El Salvador said from the beginning is becoming a reality. The El Salvador government is beginning to severely punish companies and entrepreneurs, who refuse to accept BTC.

Sanctions for people who reject BTC

With this interesting announcement came President Nayib Bukele’s legal adviser, Javier Argueta. Businesses that refuse to transact with BTC and do not use Chivo Wallet will be subject to sanctions under the Consumer Protection Act. As most of El Salvador’s population is below the poverty line and lacks basic information on cryptocurrencies, this is a bold solution from the ruling party.

Another question is why President Bukele published a post on Twitter on August 23, in which he clearly pointed out the voluntary use of BTC. This is contrary to what his legal adviser is now saying. So where is the truth and what is behind the BTC law?StormGain

“If someone wants to continue to carry cash, not get an entry bonus, not have customers who have BTC, do not develop their business and pay commissions on transfers, they can continue to do so. It’s voluntary. “

The opposition is not sleeping

Of course, these fundamental mistakes are pointed out in particular by the opposition. Anabel Belloso, a representative of the FMLN opposition party, speaks of the clear misleading of the population, who are constantly fed lies by the president.

The law adopting the BTC was passed on June 8, shortly after it was publicly announced by President Bukele. From that moment on, the law faces constant pressure not only from the opposition, but also from the people themselves and the wider society. The aforementioned status is particularly controversial imposes an obligation on traders accept BTC in business.

Of course, each coin has two sides, and even in this case, nothing is black and white. Specifically, I come across the opposition, which has raised its resistance to a “different level”. Recently, the main representatives of the opponents of the president, they decided to witchcraft. They wanted to impose a curse on the leader of the country. Is it a sign of despair? Everyone has to judge it individually.

What price will BTC reach by the end of the year according to the Stock-to-flow model?

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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