Bitcoin24h $68,155.70-0.84%

Ethereum24h $1,981.37+0.14%

XRP24h $1.48-0.53%

BNB24h $616.95+0.44%

Solana24h $84.73-2.22%

TRON24h $0.2831+1.14%

Dogecoin24h $0.1009-4.04%

Bitcoin Cash24h $562.48+1.21%

Cardano24h $0.2830+0.79%

UNUS SED LEO24h $8.48+0.48%

El Salvador bitcoin remittances hit all-time low

Crypto remittances to El Salvador as a proportion of total remittances have fallen to new lows, despite the country embracing digital assets.

Tether is ready to move to El Salvador

Tether has announced that it’s ready to move to El Salvador after receiving its Digital Asset Service Provider (DASP) license.

Tether CEO Paolo Ardoino has reportedly bought land worth almost $2 million in a luxury El Salvadorian golf resort.

Authorities in El Salvador have agreed to end the use of bitcoin for tax payments by February 2025 in order to secure an IMF loan extension.

Simplistic calculations of El Salvador’s bitcoin holdings assume that a rally to $100K would allow IMF loan repayment. It probably won’t.