The government of El Salvador just announced the law on cryptocurrency, which caused a lot of controversy among the citizens. Some people thought that the law would help them get rid of corruption, but some are not happy.
El Salvador is one country with a very high level of support for digital currencies such as Bitcoin. However, it is still not clear whether or not the new crypto law will be passed as it does not support the population.
The Central American University of Jose Simeón Cañas surveyed to understand the opinion of the Salvadorans. The results showed that 71% of Salvadorans would like the authorities to repeal this law.
Andreu Oliva, the University of Barcelona’s director, discussed how people are confused about bitcoin. Cryptocurrencies are confusing for many people because they are new and lack understanding about how they work.
Salvadorans are not particularly interested in bitcoin
Bitcoin has experienced rapid growth in popularity over the last decade. It is becoming one of the most preferred forms of currency for many people to use due to its unique characteristics. However, it appears that not many Salvadorans are willing to trust Bitcoin as a form of money, which indicates that that country could still develop trust in this digital currency.