Sending remittances in Central America could suffer changes related to bitcoin
The process that Nayib Bukele is carrying out in El Salvador with cryptocurrencies could completely change the way this economic activity is carried out
The process of adopting bitcoin as an ongoing currency for El Salvador could have great repercussions on the way remittances are being carried out in that country.
The Central American Bank for Economic Integration (CABEI) made its forecasts regarding the results of this measure, hoping that other nations “pay close attention to the impact of bitcoin in El Salvador.”
The CABEI executive described El Salvador’s bitcoin adoption policy as an “out-of-this-world experiment” that could foster greater financial inclusion in the country. Thus, the regional bank is helping El Salvador to create a technical framework for the use of cryptocurrency.
According to Carlos Sánchez, CABEI’s chief investment officer, the regional bank is interested in helping the nation governed by Nayib Bukele to ensure compliance with global regulations on money laundering as the country tries to use the digital asset as a parallel currency.
K. Tovar
Source: Cointelegraph
