{"id":276857,"date":"2021-06-17T08:19:46","date_gmt":"2021-06-17T05:19:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/world-bank-refuses-el-salvadors-request-for-help-on-btc-transition\/"},"modified":"2021-06-17T08:19:46","modified_gmt":"2021-06-17T05:19:46","slug":"world-bank-refuses-el-salvadors-request-for-help-on-btc-transition","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/world-bank-refuses-el-salvadors-request-for-help-on-btc-transition\/","title":{"rendered":"# World Bank refuses El Salvador&#8217;s request for help on BTC transition"},"content":{"rendered":"<p>&#8220;<strong># World Bank refuses El Salvador&#8217;s request for help on BTC transition <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMjE4ZjM5OTgtZTNiMS00ODFjLThmMmUtYTQ5NjQ1NTk2ODQyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The World Bank has refused El Salvador\u2019s request for help on the country\u2019s transition to adopting Bitcoin as legal tender. <\/p>\n<p>It cited issues with Bitcoin\u2019s environmental impact and transparency as reasons why it will not support El Salvador move to adopt Bitcoin as an officially accepted currency . <\/p>\n<p>&#8220;While the government did <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach us for assistance on Bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings, &#8221; a World Bank spokesperson said.<\/p>\n<p>The World Bank did note however that it can help El Salvador in other ways, including \u201ccurrency transparency and regulatory processes.&#8221;<\/p>\n<p>Earlier on Wednesday, Salvadoran Finance Minister Alejandro Zelaya said the Central America country had sought technical assistance from Banco Mundial (the World Bank). <\/p>\n<blockquote><p>&#8220;I want to announce that we have requested technical assistance from @BancoMundial, so that like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BCIE_Org\">@BCIE_Org<\/a>, they can accompany El Salvador in the implementation and regularization of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hashtag_click\">#Bitcoin<\/a> as legal tender.&#8221;<\/p><\/blockquote>\n<p>Prominent Bitcoiners weren\u2019t pleased with the World Bank&#8217;s refusal, but nor were they particularly surprised.<\/p>\n<p>Bitcoin proponent Anthony Pompliano <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/APompliano\/status\/1405358343108153351\">tweeted<\/a> in response to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that the \u201cWorld Bank hasn\u2019t figured out how to make money off Bitcoin.\u201d<\/p>\n<p>Samson Mow the CSO of blockchain development firm Blockstream, and creator of blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> Infinite Fleet, was irritated by the news \u2014 and called for The World Bank to be made obsolete. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: WORLD BANK CANNOT HELP EL SALVADOR MAKE WORLD BANK OBSOLETE. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/gLReCZXC4r\">pic.twitter.com\/gLReCZXC4r<\/a><\/p>\n<p>\u2014 Samson Mow (@Excellion) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Excellion\/status\/1405354418493542407?ref_src=twsrc%5Etfw\">June 17, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>While President Nayib Bukele\u2019s Bitcoin law has sparked a lot of excitement from Bitcoin proponents across the globe, it has also received a lot of criticism. Yesterday, economist Steve Hanke said that El Salvador using Bitcoin as a legal tender may \u201ccompletely collapse the economy.\u201d <\/p>\n<p>The International Monetary Fund (IMF) is also not keen on El Salvador&#8217;s embrace of Bitcoin. Cointelegraph reported on June 11 that it may hamper negotiations with the IMF over a $1B loan to support the country\u2019s economy. <\/p>\n<p>IMF spokesman Gerry Rice noted the adoption of Bitcoin presents a number of financial, legal and macroeconomic concerns that require a \u201cvery careful analysis&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">30 foreign business leaders coming to visit Bitcoin Beach tomorrow -to see how they can invest in El Salvador.  Just this morning had 2 companies tell us they already have lawyers setting up their legal business entities. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nayibbukele?ref_src=twsrc%5Etfw\">@nayibbukele<\/a> has opened the jobs floodgates <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>\u2014 Bitcoin Beach (@Bitcoinbeach) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Bitcoinbeach\/status\/1405008685789810690?ref_src=twsrc%5Etfw\">June 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Latin American telecom company accepts crypto payments through BitPay<\/em><\/strong><\/p>\n<p>But some companies are rushing to help. Athena Bitcoin indicated it would move quickly to provide Bitcoin ATMs across El Salvador. On <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> today, the firm asked Bukele if \u201c1000 ATMs &#8221; were enough, with the President replying in jest \u201c1,000? How about 1,500?\u201d<\/p>\n<p>Yesterday, El Salvador\u2019s Minister of Labor and Social Welfare Rolando Castro denied claims that ministry had begun discussing the option to use Bitcoin for employee salary payments, noting that it was \u201ctoo premature to talk about wages.\u201d <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/world-bank-refuses-el-salvador-s-request-for-help-on-btc-transition\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# World Bank refuses El Salvador&#8217;s request for help on BTC transition &#8221; The World Bank has refused El Salvador\u2019s request for help on the country\u2019s transition to adopting Bitcoin as legal tender. It cited issues with Bitcoin\u2019s environmental impact and transparency as reasons why it will not support El Salvador move to adopt Bitcoin&#8230;<\/p>\n","protected":false},"author":1,"featured_media":276858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMjE4ZjM5OTgtZTNiMS00ODFjLThmMmUtYTQ5NjQ1NTk2ODQyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,76853,79490,70719,70934,74332],"class_list":["post-276857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-latin-america","tag-south-america","tag-atm","tag-regulation","tag-world-bank"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/276857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=276857"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/276857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/276858"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=276857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=276857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=276857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}