September 19, 2021

El Salvador created a Bitcoin trust for currency exchange

El Salvador created a Bitcoin trust for currency exchange

The trust will allow local entrepreneurs to instantly convert bitcoins to US dollars.

On Monday El Salvador's government has agreed to provide $ 150 million to create a Bitcoin trust that will exchange the US dollar and Bitcoin.

According to the Minister of Economy, the size of the fund will increase in the future depending on demand.

In June, El Salvador passed a law that makes bitcoin legal tender on par with the dollar. The law comes into force on September 7.

According to the results of recent polls, more than 60% of the country's residents do not support this initiative. Local businessmen do not want to accept Bitcoin, and retirees do not want to receive payments in cryptocurrencies.

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According to the materials www.coindesk.com