The United States Undersecretary of Public Affairs, Victoria Nuland, met with the President of El Salvador, Nayib Bukele. During the meeting, the official recommended the regulation of bitcoin once it becomes a national currency, as it is expected to become a reality on September 7, after the Bitcoin Law is fully regulated.
The information was provided by the France24 news agency yesterday, July 1, 2021. After the Nuland meeting, he detailed the suggestion he made to the president of the Central American nation:
I suggested to the president (Bukele) that, regardless of what El Salvador decides to do, make sure that it is well regulated, that it is transparent and that he is responsible, and that he protects himself against evil actors.
The official of the United States government told the head of state of El Salvador that The United States is taking “a hard look at bitcoin” after the Colonial Pipeline cyberattack.
The ransomware attack against that pipeline state unidense located in the state of Texas occurred last May. Authorship was awarded to a group of hackers known as DarkSide. It is a gang of computer criminals that is characterized by requesting payments in bitcoin (BTC), or in cryptocurrencies such as monero (XMR), as reported by CriptoNoticias.
United States: skeptical about bitcoin
But not only because of this issue, the United States maintains a skeptical position on bitcoin and cryptocurrencies. The authorities of that nation are uneasy about several issues among which are: environmental impact, terrorist financing, market manipulation and even the risk that cryptocurrencies could cause the United States to lose geopolitical influence by weaken the influence of the dollar .
The step that Bukele has taken towards the adoption of bitcoin as legal tender has generated diverse reactions also among various organizations international . While the Central American Bank for Economic Integration has expressed its willingness to support El Salvador in this initiative, the World Bank, the International Monetary Fund (IMF) and the Inter-American Bank for Economic Integration (IDB) have not agreed. Also private entities, for example, JP Morgan, expressed their skepticism.
On the other hand, others believe that the adoption of BTC as legal tender in El Salvador could benefit that country. Among other things, because it would open the doors to foreign capital willing to invest and develop industries in the country and citizens could receive remittances quickly and cheaply.
