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Time isn’t ripe for Salvadoran Bitcoin salaries

Posted: Jun 16, 2021 12:01 Category: Americas , Crypto , Posted by
Stanley Yin

Salvadoran Minister Rolando Castro tweeted that it is too soon to talk about workers receiving Bitcoin-based wages

RolandoCastroTweetIn response to rumours, stating that the Central American country was on the verge to implement Bitcoin salaries for workers, Rolando Castro tweeted “For clarification: At no moment have I planned this”. The tweet further stated it was “premature to talk about salaries” and that he is “concentrating on the search for more and better use cases”. Monthly payment are not part of that, at least not in these early stages.

Rumours preceding official statements on the new realization of the Bitcoin legal tender adoption are spreading, just a week after President Bukele announced the monetary reform. Since then, several influential crypto personalities have flocked to the country to meet with Bukele.

The legal framework for the new official currency is unclear, sparking conversations on an array of domains. It was announced however, that the US-Dollar’s role as legal tender will not be replaced, but instead both currencies will be used side-by-side.

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