Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Following the adoption of bitcoin as the country’s second legal tender, El Salvador’s government is discussing if companies would pay their employees in bitcoin.
- In a tweet by a local radio station 107.7 Fuego on Tuesday (June 15, 2021), three government ministries were considering the possibility of companies’ workers receiving their wages in BTC. This was revealed by the Minister of Labor, Rolando Castro.
- According to Castro, the decision to pay salaries in bitcoin will come after the bitcoin’s legal tender status becomes law. The Ministry of Labour is working with the Ministries of the Economy Finance to analyze the decision.
- As reported by CryptoPotato earlier in June, a supermajority of El Salvador’s Congress voted in favor of President Nayib Bukele’s bitcoin plan. Even Google search for “El Salvador” reached an all-time high (ATH) following the announcement.
- While the country’s decision to adopt bitcoin has seen high praise from BTC enthusiasts and the crypto community, the bitcoin move has raised concerns, especially from global financial institutions.
- However, El Salvador continues to forge ahead with its bitcoin ambitions despite skepticisms. Recently, the Central American Bank for Economic Integration (CABEI) announced that it would offer technical assistance to the El Salvadoran government in the implementation of BTC as a legal tender. The government is also planning to mine bitcoin with energy from volcanoes.
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.