Most Salvadorans want to repeal the bitcoin law according to a recent survey

Most Salvadorans do not agree with the government’s adoption of Bitcoin as legal tender and want the legislation repealed.

Many also said that they did not know how to use the digital currency and were suspicious of the project, according to a survey by the Central American University (UCA).

Bitcoin survey results

According to the El Salvador-based Jesuit university survey, at least 67.9% of the 1,281 people surveyed said they disagreed or strongly disagreed with the use of bitcoin as legal tender. Meanwhile, just over 32% of people said they agree on some level.

survey, conducted in August, also showed that 90% of people did not have a clear understanding of bitcoin. Another 80% said they had little or no confidence in its use, while 7 out of 10 thought that lawmakers should repeal the Bitcoin law.

What we can see in this survey, in addition to this broad rejection of the implementation of bitcoin as legal tender, is that for the first time we have seen significant disagreement between the population and the decisions made by the Legislative Assembly and the President. “Said the dean of the UCA, Andreu Oliva.

In addition, the survey revealed that the majority of Salvadorans believe that the main beneficiaries will be the wealthy, such as foreign investors, as well as government and business leaders. “re is a lot of concern about the possible negative effects of using bitcoin,” Oliva concluded.

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This would not be the first sign of dissent from the population. Last week, citizens took to the streets to protest the government’s decision. Previously, a group of citizens, led by opposition politician Jaime Guevara, filed a lawsuit against the country for adopting bitcoin as legal tender.

government continues

Meanwhile, despite the apparent population decline, the government is moving ahead with formalizing cryptocurrency as legal tender on September 7. Earlier this week, the Congress of El Salvador passed legislation to create a $ 150 million fund to facilitate conversions from Bitcoin to USD.

fund will help provide 200 crypto ATMs and 50 advice centers for the government’s “Chivo” digital wallet application that are installed in different parts of the country. According to President Nayib Bukele, users will be able to deposit and withdraw money without paying fees. government launched its first ad for the “Chivo” wallet earlier this week.


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