44 Countries, Including Nigeria, Meet in El Salvador to Discuss Bitcoin

44 Countries, Including Nigeria, Meet in El Salvador to Discuss Bitcoin

  • The future of Bitcoin was recently discussed in EL Salvador where about 44 countries met to talk about adoption
  • The President of El Salavdor who convened the meeting said the meeting will focus on adoption, digital inclusion, among others
  • Other countries that attended the meeting included central banks and other countries from all over the world

The president of El Salvador, Nayib Bukele has announced a meeting of 44 countries, including Nigeria to discuss the future of Bitcoin.

Meeting took place in El Salvador on Monday, May 16, 2022.

Bitcoin, El Salvador, Nigeria, CBN
Nayib Bukele, El Salvador Credit: George
Source: Getty Images

El Salvador dragging over countries into Bitcoin adoption

TheCable reports that Bukele stated this in a slew of tweets on his official Twitter on Sunday, May 15, 2022.

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El Salvador, a South American country was among the first to adopt Bitcoin as legal tender.

The Central African Republic is the latest country and the first in Africa to adopt make Bitcoin an official currency along with its official currency.

Bukele said the delegates which consists of 32 central banks and 12 financial authorities, met in El Salvador to talk financial inclusion, digital economy, banking the unbanked and El Salvador’s adoption of Bitcoin.

Many of the the central bankers were drawn from Africa, South America and Asia.

The countries include Nigeria, Egypt, Nepal, Pakistan, Bangladesh, Kenya, Namibia, Uganda, Rwanda, Paraguay, Angola, Guinea, Madagascar, Dominican Republic, among others.

Nigeria says it is not yet time for crypto adoption

Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has consistently frowned againt trading in cryptocurrency and introduced the eNaira so as to lure Nigerian away from crypto.

The CBN, in 2021, imposed over N1.3 billion as penalties against banks for trading in crypto and for flouting its regulation on crypto accounts.

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Trouble hits Luna investors as stablecoin drops to zero in value

Legit.ng has reported that Investors of Luna, the stablecoin that collapsed on Thursday, May 12, are crying as the value of the cryptocurrency equals nothing, trading at $0 on Friday, May 13, 2022.

Nigerian investors have bemoaned their luck as the value dropped to about N23 per LUNA, while it crashed on the international market.

As Bitcoin staged a comeback, surging above $30,000 irrespective of the ongoing troubles of stablecoins like TerraUSD that created panic in the market, investors of LUNA are in a hypertensive mood.

Source: Legit.ng

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