President Bukele’s Bitcoin Law Suffers Opposition from Countrymen

President Bukele’s Bitcoin Law Suffers Opposition from Countrymen

One of the parties in El Salvador has taken President Bukele to court claiming that his Bitcoin adoption is capable of dragging the country’s economy to the mud.

The president had earlier pronounced that BTC should be used to buy and sell in the country but this may no longer work out if it is proven that the constitution does not permit such.

The political party, Farabundo Marti National Liberation Front (FMLN) and its supporters have declared that the president’s move must be stopped because it is against the law.

The leader of the protest, Jaime Guevara, and some others see the proposed adoption as something impracticable because the country’s laws does not support it. They claim that it has the potential to cause more harm than good in the land.

Guevara says this protest will weigh the capacities of the recently appointed officers meant to protect the country by encouraging obedience to its constitution.

The FMLN party was the second runner upper in the elections conducted four months ago. The President’s party, New Ideas, was the first with over 66% of votes, while the Nationalist Republican took the second position.

A lawyer in the country named Enrique Anaya said it hasn’t been easy to add the Bitcoin Law into the constitution since June 9 when it was permitted. However, he thinks that lawyers may have started using it.

According to Guevera, President Bukele did not consider the interest of the people while making the law. He opines that the Bitcoin law is rather a selfish ambition for the President and his party.

Last week, some questionnaires were passed around to 1,600 people to indicate how ready they were to accept BTC. 80% of the respondents declared they didn’t like the idea especially regarding being paid their salaries in Bitcoin. The country’s Minister of Labor and Social Welfare, Roland Castro, declared 6 days ago that salaries are not being considered yet to be paid using Bitcoin.

Already, the World Bank has refused to help El Salvador in moving completely to the Bitcoin era stating that it is dangerous for the environment and will not ensure proper accountability.

Bitcoin has dropped again by more than 4% at the time of writing to about $32,800


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