{"id":137272,"date":"2021-08-30T23:02:47","date_gmt":"2021-08-30T23:02:47","guid":{"rendered":"https:\/\/precoinnews.com\/?p=137272"},"modified":"2021-08-30T23:02:47","modified_gmt":"2021-08-30T23:02:47","slug":"anti-bitcoin-protests-break-out-in-el-salvador","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/anti-bitcoin-protests-break-out-in-el-salvador\/","title":{"rendered":"Anti-Bitcoin Protests Break Out in El Salvador"},"content":{"rendered":"<h3>Key Takeaways<\/h3>\n<ul>\n<li>Citizens are protesting El Salvador&#8217;s upcoming Bitcoin laws, which will make the cryptocurrency into legal tender.<\/li>\n<li>Hundreds of individuals reportedly attended the protests.<\/li>\n<li>The law will take effect on Sept. 8.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/08\/23024626\/Phemex-logo-large-no-background.png\"><\/p>\n<p>Citizens in El Salvador are protesting the country&rsquo;s adoption of Bitcoin as legal tender, according to various news sources.<\/p>\n<h2>El Salvador Protesters Fill Streets<\/h2>\n<p>La Prensa Gr&aacute;fica suggested that protesters opposed the law on the grounds that it was &ldquo;imposed &hellip; without consulting the people.&rdquo; Protesters carried signs that read &ldquo;No To Bitcoin,&rdquo; &ldquo;No To Money Laundering,&rdquo; and &ldquo;The Working Class Rejects Bitcoin.&rdquo;<\/p>\n<p><iframe loading=\"lazy\" title=\"Grupo de salvadore&ntilde;os protesta para derogar la ley bitc&oacute;in\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/-c_8jH9_vuA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Reuters suggested hundreds of demonstrators attended the protest, which took place in El Salvador&rsquo;s capital city, San Salvidor.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/08\/24120619\/SIMETRI-banner-square-082421.png\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/07\/20041635\/5.gif\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/bit.ly\/3rrBc6j\" width=\"1\" height=\"1\" border=\"0\"><\/p>\n<p>Elsewhere, Business Insider reported that the Salvadoran Association of International Cargo Carriers (ASTIC) has asserted that its carriers will not accept Bitcoin. If forced, carriers will introduce a 20% surcharge on Bitcoin transactions to offset price volatility.<\/p>\n<p>This is not the first time that the law has been challenged. In July, local newspaper Diario El Mundo noted that members of the Popular Resistance and Rebellion Bloc presented a proposal to repeal the upcoming law. Those groups expressed concerns about Bitcoin&rsquo;s price volatility and its use in illegal activity, among other issues.<\/p>\n<h2>Law Will Take Effect Next Week<\/h2>\n<p>El Salvador decided to adopt Bitcoin as legal tender&nbsp;in June, and the new policy will take effect on Sept. 7. The government plans to appeal to business owners by giving them $30 of Bitcoin for free.<\/p>\n<p>It is still unclear whether Bitcoin acceptance will be made mandatory. Statements from President Nayib Bukele dating back to June suggest that businesses will not be required to accept Bitcoin. &ldquo;Nobody will have to accept bitcoins if they don&rsquo;t want to,&rdquo; Bukele stated.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/08\/24120619\/SIMETRI-banner-square-082421.png\"><\/p>\n<p>However, the law itself suggests that at least some entities will need to accept Bitcoin, as it reads: &ldquo;all economic agents must accept bitcoin as a form of payment when it is offered to them by whoever acquires a good or service.&rdquo;<\/p>\n<p>It is not clear which businesses fall into that category.<\/p>\n<p><em>Disclaimer: At the time of writing this author held less than $75 of Bitcoin, Ethereum, and altcoins.<\/em><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/08\/23024626\/Phemex-logo-large-no-background.png\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/08\/20040114\/Phemex-Category-Banner-Right-Side-082021.png\"><\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<p>Source: <a href=\"https:\/\/cryptobriefing.com\/anti-bitcoin-protests-break-out-in-el-salvador\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Citizens are protesting El Salvador&#8217;s<\/p>\n","protected":false},"author":3,"featured_media":137271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Anti-Bitcoin Protests Break Out in El Salvador - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/anti-bitcoin-protests-break-out-in-el-salvador\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anti-Bitcoin Protests Break Out in El Salvador - 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