Curtis Loftis, the treasurer for the U.S. state of South Carolina, spent five days in El Salvador as part of an \u201cexploratory trip\u201d on cryptocurrencies.<\/p>\n
According to an Oct. 5 announcement, Loftis was part of a delegation including South Carolina business leaders, rural health officials, and individuals \u201cinterested in the expansion of cryptocurrency and blockchain technologies\u201d who met with officials from El Salvador\u2019s government in an effort to understand the country\u2019s efforts to adopt Bitcoin (BTC). The cryptocurrency has been legal tender alongside the U.S. dollar in the Central American nation since El Salvador\u2019s Bitcoin Law went into effect in September 2021.<\/p>\n
Loftis reportedly used his own funds to pay for the trip, which included discussing Bitcoin with government officials and exploring the country\u2019s financial literacy educational programs. According to the treasurer, the visit to El Salvador was prompted by South Carolina\u2019s legislature exploring ways to support the adoption of crypto and blockchain in the state.<\/p>\n
\u201cWhile there are a number of variables to consider, it\u2019s exciting to ponder the prospects of how South Carolinians, especially those in our rural communities, might also benefit from using Bitcoin,\u201d said Dennis Fassuliotis, president of the South Carolina Emerging Technologies Association, who was also in attendance on the trip.<\/p>\n