El Salvador Archives - Page 2 of 3

El Salvador’s Bitcoin strategy under fire as US eyes sanctions on Bukele

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A group of US Democratic senators has introduced a new bill to sanction El Salvador’s President Nayib Bukele and members of his administration. The legislation, titled the El Salvador Accountability Act (S.2058), was put forward by Senators Chris Van Hollen, Tim Kaine, and Alex Padilla. If passed, the bill would require President Donald Trump to […]

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Senate Bill Targets Bukele’s Bitcoin Strategy With Sanctions

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure A trio of Senate Democrats has introduced legislation that would not only blacklist President Nayib Bukele and his inner circle but also order a forensic probe of El Salvador’s Bitcoin strategy. Filed on 12 June by Senators Chris Van Hollen (D-Md.), Tim Kaine

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Cardano Pulled Out Of El Salvador Deal, Hoskinson Claims

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Charles Hoskinson, founder of Cardano and CEO of Input Output Global (IOG), revealed in a newly published interview that his company passed on a potential deal with the government of El Salvador due to serious legal and geopolitical concerns—specifically involving a proposed

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El Salvador Evolves AI Strategy by Launching Nvidia-Powered National Lab

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El Salvador has begun preparations for the launch of one of the first artificial intelligence labs in Latin America, powered by Nvidia chips. The nation aims to develop its own AI, referred to as “sovereign AI,” to create national AI systems for social and economic purposes. El Salvador Launches National AI Lab Initiative El Salvador

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Bitcoin Core Developer Arrested in El Salvador For Allegedly Calling Neighbor ‘Stupid’

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The developer says he has now been released but was allegedly detained and faced up to eight years in prison after his Salvadoran neighbor accused him of calling her “stupid” during a dispute over a piece of land. Bitcoin Core Contributor Arrested After Dispute With Neighbor Thanks to a bizarre quirk in a Salvadoran law

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Crypto Remittances Fell Nearly 45% in El Salvador

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Numbers from the Central Bank of El Salvador indicate that crypto remittances sent to El Salvador fell by 45% compared to the first four months of 2024. Crypto flows sent from abroad accounted for less than 1% of all funds sent by foreigners to family and friends. Crypto Remittances Keep Failing to Reach Widespread Adoption

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Donald Trump’s advisor Bo Hines meets Nayib Bukele as US eyes El Salvador’s Bitcoin strategy

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Bo Hines, who leads President Donald Trump’s advisory council on digital assets, recently met with El Salvador’s President Nayib Bukele to discuss potential partnerships in the crypto space. In a post shared on June 5, Hines revealed that the meeting centered around digital asset development and a shared ambition to reshape global finance. He also

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Panama Canal Could Prioritize Bitcoin-Paying Ships, Mayor Suggests

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Panama City’s mayor, Mayer Mizrachi, put forward an unusual plan at the Bitcoin 2025 conference in Las Vegas on May 29. He suggested that cargo ships could speed up their transit through the Panama Canal if they paid in Bitcoin. It was a brief comment, but it set off a flurry of questions about how

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El Salvador’s Bitcoin strategy under IMF scrutiny

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The International Monetary Fund (IMF) has again called on El Salvador to keep its Bitcoin holdings unchanged. In a statement released on May 27, the IMF said government-owned wallets must not increase their BTC reserves and also urged the country to fully exit its role in the Chivo wallet by the end of July. According

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El Salvador Overtakes North Korea in Bitcoin Holdings After Lazarus Group’s Reduction

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Two weeks prior, North Korea’s cybercriminal network Lazarus Group maintained a stash of 7,813 BTC—then worth $856 million. Since that point, the group has liquidated approximately 1,938 BTC, shedding more than $212 million in value. As a result of this reduction, El Salvador now outranks Pyongyang, claiming the title of the fourth-largest sovereign bitcoin holder.

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