El Salvador official says America Is worrying About Losing Its Power
El Salvador’s Ambassador raised concerns over the criticism and pressure because of the adoption of Bitcoin as an innovation tool.
Milena Mayorga, El Salvador’s ambassador to the US, shared her thoughts on the current situation in El Salvador and indicated that the country is facing criticism because of the Bitcoin law.
According to Milena, after the adoption of Bitcoin as a legal tender, the country is moving toward new initiatives and development works but under criticism, because DC Washington doesn’t want to lose power.
“The concern in Washington DC is about losing the power of the dollar and we can understand that …..But Salvador has to move on and be on a different level”
Milena noted that the country is getting alternative ways to generate revenue for the country and citizens over the traditional sources like the IMF. Further, she continues:
“They are afraid and concerned because if we succeed, a lot of countries are looking to follow our lead”
Milena also said that in the past 30 years many corrupt Politicians did much for self but here Nayib Bukele, president of El Salvador, is trying to do best over past politicians to bring transparency and he believes that Bitcoin will help the citizens and El Salvador to get a better and stable economy.
According to Milena, because of the Bitcoin adoption, El Salvador is getting huge tourist attractions. And more than 80% of the El Salvador citizens are using Bitcoin Chivo wallet for payment purposes at zero cost.
Milena also pointed out the support of $30 to every citizen with Chivo wallet and said Chivo wallet also gives subsidies to the citizens over high fuel prices.
El Salvador Officials tried to target the world bank and IMF over their concerns on El Salvador to adopt Bitcoin in the payment system. Recently, the IMF published another concern over Bitcoin as a legal tender to target and criticize El Salvador’ Bitcoin law.
Read also: French Regulators says Binance needed to Improve AML guidelines Before Set Up HQ in Paris
