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   Crypto Currency Update

Retirees in El Salvador protest against Bitcoin adoption

3 years   0   487   Crypto Currency Update

Apparently, the notion of a peer-to-peer decentralized currency is lost on the elder generation of El Salvador, as local retirees and veterans took to the streets to protest over the adoption of BTC as legal tender.

The anti-Bitcoiners reportedly marched through the capital to express their dismay over fears that the asset would be used for pension payments and cited BTC’s unstable price as a reason for concern.

A Salvadoran news outlet also reported that crypto expert Mario Gómez was arrested by local police without a warrant, with law enforcement seizing his phone and attempting to get a hold of his computer. Gómez has regularly spoken out against the adoption of BTC as currency. However, the police released a statement asserting that the arrest was part of a financial fraud investigation.

El Salvador’s Legislative Assembly also passed legislation for a $150 million Bitcoin Trust this week, supporting the development of crypto infrastructure and services across the country.

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