El Salvador: Protesters demand repeal of law set to approve Bitcoin as legal tender

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Crowds of protesters marched through San Salvador on Tuesday, to demand the repeal of a law set to come into effect on September 7, which will see Bitcoin adopted as legal tender.
Demonstrators from various social and student organisations marched towards the country’s Legislative Assembly, holding signs condemning the implementation of the law and claiming that use of the currency would lead to ‘corruption’ and ‘money laundering.’
“Bitcoin is for corrupt officials to launder the millions of dollars they have stolen from the national treasury, and so that drug traffickers and organised crime mafias do not have controls for the transactions of their dirty money,” said Sonia Urrutia, a member of the Block of Popular Resistance and Rebellion.
Protester Stanley Quinteros from the General Secretary of the Union of Judicial Employees said that “the working class and civil society have given a resounding rejection of the Bitcoin law,” and urged the government to understand their demands.
In June, President Nayib Bukele announced his plan for El Salvador to become the first country to implement the cryptocurrency as legal tender, stating that the move would promote financial inclusion, investment and economic development.
The decision has been met with widespread disapproval from Salvadoran citizens, as well as international financial organisations, including the World Bank.

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