“I suggested to the president that whatever El Salvador chooses to do (with bitcoin), it ensures that it is well regulated, transparent and accountable, and that it protects itself from malicious actors,” said she declared at the end of this meeting. During the meeting, Ms. Nuland reminded the Salvadoran President of the cyberattack on the main oil pipeline operator Colonial Pipeline in the United States, which had been forced to temporarily shut down its activities, before agreeing to pay. a ransom in bitcoins equivalent to $ 4.4 million. El Salvador uses the US dollar as its official currency, but on June 9 it approved the adoption of bitcoin as its legal currency. He intends to use this cryptocurrency for all transactions from September, which would make him the first country to do so.
The Salvadoran government recently discussed the decision with the International Monetary Fund (IMF) during a “fruitful” meeting, according to Salvadoran Finance Minister Alejandro Zelaya. The World Bank, however, rejected a request for assistance from El Salvador in its attempt to adopt bitcoin as the official currency.
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