{"id":303559,"date":"2021-07-20T17:29:35","date_gmt":"2021-07-20T14:29:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/"},"modified":"2021-07-20T17:29:35","modified_gmt":"2021-07-20T14:29:35","slug":"coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/","title":{"rendered":"#Coercion and coexistence: How El Salvador\u2019s Bitcoin Law may change global finance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2d21d7ebe96\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2d21d7ebe96\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#The_surprise_shot_heard_round_the_world\" >The surprise shot heard round the world<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#The_IMFs_leverage_and_lending_Pools\" >The IMFs leverage and lending Pools<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#The_best_of_blockchain_every_Sunday\" >The best of blockchain, every Sunday<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Potential_World_Bank_implications_of_the_Bitcoin_Law\" >Potential World Bank implications of the Bitcoin Law<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#The_Central_American_Bank_for_Economic_Integration_expresses_support\" >The Central American Bank for Economic Integration expresses support<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Hastened_tax_and_commercial_law_reform_in_the_US\" >Hastened tax and commercial law reform in the U.S.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Bringing_contemporary_pop_art_to_an_NFT_metaverse\" >Bringing contemporary pop art to an NFT metaverse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Retire_early_with_crypto_Playing_with_FIRE\" >Retire early with crypto? Playing with FIRE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Rogue_states_dodge_economic_sanctions_but_is_crypto_in_the_wrong\" >Rogue states dodge economic sanctions, but is crypto in the wrong?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#We_tracked_down_the_original_Bitcoin_Lambo_guy\" >We tracked down the original Bitcoin Lambo guy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Crypto_PR_The_good_the_bad_and_the_shoddy\" >Crypto PR: The good, the bad and the shoddy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#The_best_of_blockchain_every_Sunday-2\" >The best of blockchain, every Sunday<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Bitcoins_adoption_forces_change\" >Bitcoins adoption forces change<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Bringing_contemporary_pop_art_to_an_NFT_metaverse-2\" >Bringing contemporary pop art to an NFT metaverse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Retire_early_with_crypto_Playing_with_FIRE-2\" >Retire early with crypto? Playing with FIRE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Rogue_states_dodge_economic_sanctions_but_is_crypto_in_the_wrong-2\" >Rogue states dodge economic sanctions, but is crypto in the wrong?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#We_tracked_down_the_original_Bitcoin_Lambo_guy-2\" >We tracked down the original Bitcoin Lambo guy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/buradabiliyorum.com\/en\/coercion-and-coexistence-how-el-salvadors-bitcoin-law-may-change-global-finance\/#Crypto_PR_The_good_the_bad_and_the_shoddy-2\" >Crypto PR: The good, the bad and the shoddy<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Coercion and coexistence: How El Salvador\u2019s Bitcoin Law may change global finance<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/07\/magazine_El_Salvador_Bitcoin_Law.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                &lt;p&gt;\u00a0\n<\/code><\/pre>\n<p><strong><i>Clearly, the thing thats transforming is not the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>  the technology is transforming you. <\/i>Jeanne Ross, formerly of the MIT Sloan Center for Information Systems Research<\/strong><\/p>\n<p><span style=\"font-weight: 400\">If El Salvadors Bitcoin Law was the shot heard round the world for Bitcoin, then when the International Monetary Fund (IMF) and the World Bank questioned the legislation, it was the incumbent empire striking back.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, if El Salvador can implement its Bitcoin Law despite numerous technical and legal hurdles, it may force changes upon the organizations that oppose it and hasten reforms in how United States tax and commercial laws treat cryptocurrencies.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"The_surprise_shot_heard_round_the_world\"><\/span>The surprise shot heard round the world<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">After winning <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>roval by a supermajority of its congress, El Salvador enacted its Bitcoin Law and became the first country in the world to adopt Bitcoin as legal tender. <\/span><span style=\"font-weight: 400\">The Bitcoin Law passed mere days<\/span><span style=\"font-weight: 400\"> after El Salvadors president, Nayib Bukele, first announced his plans to introduce it. The short time between Bukeles surprise announcement and the passage of the Bitcoin Law prevented opponents from blocking it.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, in a prescient <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets, Avanti Financial Group CEO and Bitcoin advocate Caitlin Long predicted a big fight over the Bitcoin Law and warned that the world is about to pressure it [El Salvador] given whats at stake.<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ THREAD ABOUT A HISTORIC DAY in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a>: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ElSalvador?src=hash&amp;ref_src=twsrc%5Etfw\">#ElSalvador<\/a> president publicly announced support for legislation to make <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> legal tender. *IF* it does become law, it wld have many secondary effects. Steel yourselves bc a big fight on this probably coming tho<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/BrrNxaLzpZ\">https:\/\/t.co\/BrrNxaLzpZ<\/a><\/p>\n<p>\u2014 Caitlin Long  (@CaitlinLong_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CaitlinLong_\/status\/1401334421773504517?ref_src=twsrc%5Etfw\">June 6, 2021<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<h4><span class=\"ez-toc-section\" id=\"The_IMFs_leverage_and_lending_Pools\"><\/span>The IMFs leverage and lending Pools<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">Indeed, the day after El Salvador passed the Bitcoin Law, the IMF claimed that the legislation raised a number of macroeconomic, financial and legal issues that require careful analysis. The World Bank, which frequently cooperates with the IMF, joined the fray and proclaimed that it had <\/span><span style=\"font-weight: 400\">rejected El Salvadors request for help<\/span><span style=\"font-weight: 400\"> with implementing its Bitcoin Law because of environmental and transparency shortcomings. While these proclamations from powerful Washington, DC-based multinational organizations embody the fight that Long predicted in her tweets, the Bitcoin Laws forward momentum may hasten reform in how these organizations and laws in the United States address cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Based on its governing documents, the IMF is more likely to resist the Bitcoin Law by exerting economic pressure than by legally challenging the legislation of a sovereign nation. IMF member nations, including El Salvador, are bound by a code of conduct memorialized in the IMF Articles of Agreement.<\/span><\/p>\n<p><span style=\"font-weight: 400\">These articles require members to allow their currency to be exchanged for foreign currencies freely and without restriction, keep the IMF informed of changes in financial and monetary policies that will affect fellow members economies, and modify their policies to accommodate the needs of the entire membership. The IMF <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.imf.org\/external\/pubs\/ft\/exrp\/differ\/differ.htm\" class=\"broken_link\"><span style=\"font-weight: 400\">administers<\/span><\/a><span style=\"font-weight: 400\"> a pool of money from which its members can borrow to help nations abide by the code of conduct in its Articles of Agreement. In other words, the IMF enforces its articles through access to its lending pool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">(function() {window.mc4wp = window.mc4wp || {listeners: [],forms: {on: function(evt, cb) {window.mc4wp.listeners.push({event   : evt,callback: cb});}}}})();<!-- Mailchimp for WordPress v4.8.6 - https:\/\/wordpress.org\/plugins\/mailchimp-for-wp\/ --><\/p>\n<div class=\"mc4wp-form-fields\">\n<div class=\"jeg_mc4wp_heading\">\n<h3><span class=\"ez-toc-section\" id=\"The_best_of_blockchain_every_Sunday\"><\/span>The best of blockchain, every Sunday<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Subscribe for thoughtful explorations and leisurely reads from Magazine.<\/p>\n<\/div>\n<p>By subscribing you agree to our Terms of Service and Privacy Policy<\/div>\n<p><label>Leave this field empty if you&#8217;re human: <\/label><\/p>\n<div class=\"mc4wp-response\"><\/div>\n<p><!-- \/ Mailchimp for WordPress Plugin --><\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">Since El Salvador is seeking a $1.3 billion loan from the IMF to revitalize its economy, the IMF could attempt to restrict or withhold this important funding based on the Articles of Agreement. For example, the IMF could argue that it was not adequately informed in advance of the Bitcoin Law. It could also demand that El Salvador limit or modify the Bitcoin Law to accommodate the needs of the entire membership.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, it appears that concerns over punitive action by the IMF based on the issues it raised with the Bitcoin Law may have been overblown. After the IMF voiced its concerns, El Salvadors finance minister, Alejandro Zelaya, assured the IMF that the country was not abandoning the U.S. dollar as a currency.<\/span> <span style=\"font-weight: 400\">Zelaya also stated that talks with the IMF were progressing well and claimed that the IMF did not have a problem with the Bitcoin Law. The IMF did not respond to Zelayas remarks, and so the jury is still out on what, if any, action the IMF may take in response to the Bitcoin Law.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Assuming El Salvador stands by its Bitcoin Law, it will still need help implementing it. As drafted, the Bitcoin Law only allows 90 days for <\/span><span style=\"font-weight: 400\">implementing measures to make Bitcoin legal tender<\/span><span style=\"font-weight: 400\"> in the country. While El Salvador already has a partnership with the private digital wallet company Strike to build the requisite infrastructure for the Bitcoin Law, the World Bank flatly rejected the countrys request for assistance.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Potential_World_Bank_implications_of_the_Bitcoin_Law\"><\/span>Potential World Bank implications of the Bitcoin Law<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">Although the World Bank is refusing to assist with the Bitcoin Law, an informative article by Martin Rivers <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/martinrivers\/2021\/06\/17\/el-salvador-can-pay-world-bank-in-bitcoin-according-to-charter\/\"><span style=\"font-weight: 400\">suggests<\/span><\/a><span style=\"font-weight: 400\"> that the legislation may force the World Bank to accept Bitcoin.<\/span> <span style=\"font-weight: 400\">Specifically, the World Banks International Bank for Reconstruction and Development is governed by its founding document, its Articles of Agreement.<\/span> <span style=\"font-weight: 400\">Section 12 of Article V <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedocs.worldbank.org\/en\/doc\/722361541184234501-0330022018\/original\/IBRDArticlesOfAgreementEnglish.pdf\"><span style=\"font-weight: 400\">states<\/span><\/a><span style=\"font-weight: 400\"> that in lieu of accepting a members currency in certain cases, the Bank shall accept [\u2026] notes or similar obligations issued by the Government of the member or the depository designated by such member.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thus, the World Banks articles would require it to accept a note issued by El Salvador that is backed by its Bitcoin reserves. Section 9 of Article II further states that when the par value of holdings in a members currency appreciates, the World Bank must pay the gains back. If the opposite happens, the member must contribute additional currency to maintain the par value of its holdings. Consequently, if Bitcoin is deemed a local currency of El Salvador, the World Bank could be accumulating Bitcoin or paying El Salvador Bitcoin gains depending on cryptocurrencys price action.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"The_Central_American_Bank_for_Economic_Integration_expresses_support\"><\/span>The Central American Bank for Economic Integration expresses support<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">Regardless of the World Banks position on the Bitcoin Law, <\/span><span style=\"font-weight: 400\">other banking organizations focused on Central America<\/span><span style=\"font-weight: 400\"> are offering to help implement it. For example, Dante Mossi, executive president of the Central American Bank for Economic Integration (CABEI), stated that the bank will give El Salvador technical assistance in implementing the Bitcoin Law.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The CABEI has 15 member countries and <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bcie.org\/en\/about-us\/general-information\"><span style=\"font-weight: 400\">seeks<\/span><\/a><span style=\"font-weight: 400\"> to promote the economic integration and the balanced economic and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> development of the Central American region.<\/span> <span style=\"font-weight: 400\">In voicing his support for the Bitcoin Law, Mossi noted that it would lower the cost of remittances for relatives of Salvadoran nationals living abroad. While Mossi <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/cenam-development-bank-help-el-salvadors-bitcoin-implementation-2021-06-14\/\"><span style=\"font-weight: 400\">stated<\/span><\/a><span style=\"font-weight: 400\"> that he is very optimistic about El Salvador making Bitcoin legal tender, he is also asking El Salvadors government to develop regulations to prevent bad actors from taking advantage of Bitcoins pseudonymous features.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Hastened_tax_and_commercial_law_reform_in_the_US\"><\/span>Hastened tax and commercial law reform in the U.S.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">The Bitcoin Law could also force needed reform in how U.S. tax and commercial laws treat cryptocurrencies. In March 2014, the Internal Revenue Service issued a notice characterizing cryptocurrencies as property. In issuing this notice, the IRS <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/n-14-21.pdf\"><span style=\"font-weight: 400\">observed<\/span><\/a><span style=\"font-weight: 400\"> that although a digital currency can operate like a real currency, It does not have legal tender status in any jurisdiction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Now that Bitcoin is legal tender in El Salvador, the IRS may be forced to reexamine the principles it articulated for treating Bitcoin as property for tax purposes. If the IRS were to treat Bitcoin as a traditional currency, this would require any trading or investment gains on the asset to be taxed at ordinary income tax rates instead of more favorable capital gains tax rates.<\/span> <span style=\"font-weight: 400\">However, decentralized cryptocurrencies like Bitcoin do not fit within the Department of Treasury regulations that define currency as coin or paper issued by a country.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\"><\/p>\n<div class=\"jeg_postblock_carousel jeg_postblock_carousel_3 jeg_postblock jeg_col_8 jnews_module__0_60f6e3c674625    \">\n<div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='4500' data-items=\"3\" data-margin='20'>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Bringing contemporary pop art to an NFT metaverse\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Bringing_contemporary_pop_art_to_an_NFT_metaverse\"><\/span>Bringing contemporary pop art to an NFT metaverse<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 30, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Retire early\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Retire_early_with_crypto_Playing_with_FIRE\"><\/span>Retire early with crypto? Playing with FIRE<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 29, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Rogue states dodge economic sanctions, but is crypto in the wrong?\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Rogue_states_dodge_economic_sanctions_but_is_crypto_in_the_wrong\"><\/span>Rogue states dodge economic sanctions, but is crypto in the wrong?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 8, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"We tracked down the original Bitcoin Lambo guy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"We_tracked_down_the_original_Bitcoin_Lambo_guy\"><\/span>We tracked down the original Bitcoin Lambo guy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 4, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Crypto PR: The good, the bad and the shoddy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Crypto_PR_The_good_the_bad_and_the_shoddy\"><\/span>Crypto PR: The good, the bad and the shoddy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 14, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div><\/div>\n<\/p><\/div>\n<p><\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">Current tax regulations and currency definitions are a poor fit for Bitcoin because they preceded the advent of blockchain technology. However, U.S. taxpayers with family or business in El Salvador and other countries that adopt Bitcoin as legal tender will need better clarity regarding their tax obligations.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Instead of forcing an outdated framework onto Bitcoin, lawmakers and regulators should draft new rules that are tailored to cryptocurrencies and do not impose overwhelmingly complicated reporting burdens on a growing number of Bitcoin users. The creation of a tax safe harbor for certain <\/span><i><span style=\"font-weight: 400\">de minimis<\/span><\/i><span style=\"font-weight: 400\"> cryptocurrency transactions, such as the one proposed in The Virtual Currency Tax Fairness Act of 2020 introduced in the House by Rep. Suzan DelBene, could be a good start.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In fact, tax law already provides a safe harbor for small transactions in foreign currencies. Specifically, 26 U.S.C.  988(e) <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/988\"><span style=\"font-weight: 400\">states<\/span><\/a><span style=\"font-weight: 400\"> that gains from personal transactions under $200 involving foreign currencies are exempt from taxation. With El Salvadors adoption of Bitcoin as legal tender, some U.S. citizens might argue that Bitcoin is a foreign currency and that gains from Bitcoin transactions under $200 are not taxable.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">(function() {window.mc4wp = window.mc4wp || {listeners: [],forms: {on: function(evt, cb) {window.mc4wp.listeners.push({event   : evt,callback: cb});}}}})();<!-- Mailchimp for WordPress v4.8.6 - https:\/\/wordpress.org\/plugins\/mailchimp-for-wp\/ --><\/p>\n<div class=\"mc4wp-form-fields\">\n<div class=\"jeg_mc4wp_heading\">\n<h3><span class=\"ez-toc-section\" id=\"The_best_of_blockchain_every_Sunday-2\"><\/span>The best of blockchain, every Sunday<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Subscribe for thoughtful explorations and leisurely reads from Magazine.<\/p>\n<\/div>\n<p>By subscribing you agree to our Terms of Service and Privacy Policy<\/div>\n<p><label>Leave this field empty if you&#8217;re human: <\/label><\/p>\n<div class=\"mc4wp-response\"><\/div>\n<p><!-- \/ Mailchimp for WordPress Plugin --><\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">However, this exemption only applies to personal transactions and not those undertaken for trading and investment purposes. Thus, absent tax reform, it appears that all transactions in Bitcoin will continue to be taxable events. This reality will impose complicated reporting burdens on U.S. taxpayers who send regular Bitcoin micropayments to their families in El Salvador.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While politics may indefinitely delay meaningful tax reform, the legal experts who write private commercial law in the United States are already moving to accommodate cryptocurrencies. The Uniform Commercial Code (UCC) harmonizes the laws of commercial transactions and plays a crucial role in bringing greater certainty to business dealings. Currently, it is debatable whether Bitcoins adoption as legal tender by El Salvador makes it money under Sections 1-201(a)(24) and 9-312(b)(3) of the UCC.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This uncertainty makes it difficult to incorporate Bitcoin into secured transactions under the UCC. However, the Uniform Law Commission has drafted proposed changes to the UCC that specifically address intangible money like Bitcoin. These proposed changes clarify that security interests in intangible money can be perfected solely by establishing control over the asset.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Bitcoins_adoption_forces_change\"><\/span>Bitcoins adoption forces change<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">Bitcoin is now recognized as legal tender by a sovereign nation but is struggling to coexist with powerful financial organizations and laws that were designed for an economy that predated blockchain technology. It appears that El Salvador is moving forward with the implementation of its Bitcoin Law despite skepticism and resistance. If El Salvador implements the Bitcoin Law and other nations follow its example, Bitcoin may change the organizations that are resisting its adoption and hasten needed legal and financial reforms for handling cryptocurrencies.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><i><span style=\"font-weight: 400\">This article is for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> information purposes and is not intended to be and should not be taken as legal advice.<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400\">The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph or of Nelson Mullins Riley &amp; Scarborough.<\/span><\/i><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\"><\/p>\n<div class=\"jeg_postblock_carousel jeg_postblock_carousel_3 jeg_postblock jeg_col_8 jnews_module__1_60f6e3c67dd15    \">\n<div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='4500' data-items=\"3\" data-margin='20'>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Bringing contemporary pop art to an NFT metaverse\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Philip_Colbert-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Bringing_contemporary_pop_art_to_an_NFT_metaverse-2\"><\/span>Bringing contemporary pop art to an NFT metaverse<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 30, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Retire early\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine_Retire_early_with_crypto-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Retire_early_with_crypto_Playing_with_FIRE-2\"><\/span>Retire early with crypto? Playing with FIRE<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 29, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Rogue states dodge economic sanctions, but is crypto in the wrong?\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Rogue_states_dodge_economic_sanctions_but_is_crypto_in_the_wrong-2\"><\/span>Rogue states dodge economic sanctions, but is crypto in the wrong?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 8, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"We tracked down the original Bitcoin Lambo guy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"We_tracked_down_the_original_Bitcoin_Lambo_guy-2\"><\/span>We tracked down the original Bitcoin Lambo guy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 4, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Crypto PR: The good, the bad and the shoddy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Crypto_PR_The_good_the_bad_and_the_shoddy-2\"><\/span>Crypto PR: The good, the bad and the shoddy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 14, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div><\/div>\n<\/p><\/div>\n<p><\/span><\/p>\n<p>\u00a0<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/magazine\/2021\/07\/20\/how-el-salvadors-bitcoin-law-change-global-finance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Coercion and coexistence: How El Salvador\u2019s Bitcoin Law may change global finance&#8221; &lt;p&gt;\u00a0 Clearly, the thing thats transforming is not the technology the technology is transforming you. Jeanne Ross, formerly of the MIT Sloan Center for Information Systems Research If El Salvadors Bitcoin Law was the shot heard round the world for Bitcoin, then when&#8230;<\/p>\n","protected":false},"author":1,"featured_media":303560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/07\/magazine_El_Salvador_Bitcoin_Law.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-303559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/303559","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=303559"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/303559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/303560"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=303559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=303559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=303559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}