Most Salvadorans do not want to accept Bitcoin as legal tender, according to an August survey by the Central American University (UCA).

A total of 67.9% of the 1,281 people surveyed said they do not agree, or strongly disagree, with Bitcoin becoming legal tender in the country. Less than a third of those surveyed (32%) said they agreed to some extent with the decision.

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

“re is a lot of concern about the possible negative effects of using Bitcoin,” Oliva added.

This is not the first time that the evidence shows that the majority of Salvadorans do not agree with the adoption of Bitcoin as legal tender.

Forcing financial freedom in El Salvador

Earlier this summer, a study commissioned by the Francisco Gavidia University (UFG) Center for Citizen Studies (CEC) found that more than three-quarters of Salvadorans considered the adoption of Bitcoin “not very wise” or “not at all I knew”.

Less than 13% of those surveyed believe that politics is wise.

Furthermore, Salvadorans don’t just rely on polls to show their opposition to President Bukele’s bitcoin law. Citizens also took to the streets in protest.

In July, a group organized by the “Popular Resistance and Rebellion Bloc” protested in front of the country’s Legislative Assembly against Bitcoin as legal tender. “It is a law that creates legal uncertainty and could be used to defraud users and also to facilitate money and asset laundering,” activist Idalia Zuñiga said at the time.

Last week, protests resumed, with protesters holding signs saying “No to money laundering corruption,” which translates to “no to corrupt money laundering.”

September 7 is fast approaching

Despite the efforts of Bukele’s detractors, Bitcoin will be legal tender in El Salvador on September 7, 2021.

Once that happens, businesses in El Salvador… despite President Bukele’s recent tweets to the contrary — Be forced to accept Bitcoin as legal tender when offered in exchange for goods and services.

Also read Robinhood crypto plans, BTC and ETH investment flows + more news

According to Article 7 of the Bitcoin law, “every economic agent must accept Bitcoin as payment when it is offered to him by anyone who acquires a good or a service.”

Outside of El Salvador, the president’s policy has drawn criticism from some of the world’s largest monetary organizations.

“Privately issued crypto assets like Bitcoin carry substantial risks. Making them equivalent to a national currency is an inadvisable shortcut, “said the IMF. tweeted this week, reiterating concerns originally posted in July.

World Bank also criticized President Bukele’s policy this summer, refusing to help El Salvador implement Bitcoin as legal tender due to transparency and environmental concerns.

Source link

more