El Salvador is now a popular name in the crypto community. The President took a bold step to formally endorse bitcoin in the country.
Other nations aren't pleased with El Salvador's decision and are putting pressure to regulate Bitcoin. I wonder how long El Salvador can hold on
I don't understand why the other countries should complain about it. Whether to make Bitcoin as a legal tender or not is an internal matter of El Salvador. Why the neighboring nations try to intervene in this decision? I can understand the frustration from the United States, because the USD was the sole legal tender in El Salvador for so long. Now it has got a competitor. But that is not the case with countries other than the US. Anyway, there is zero chance that the measure will be revoked some time in the future, because the president (Nayib Bukele) looks quite adamant.
They intervene because they are worried on what will happen on El salvador if major collapsed happen and we can't deny that this events always happen every year. And I can't also blame other country be worried about them some goverments in other big countries doesn't believe the potential of bitcoin so maybe this is a good ressemblance to other nation that if this country became successful when adopting bitcoin then maybe this will be their basis to adopt it on their systems.