El Salvador Asked The World Bank For Help To Implement Bitcoin

Alejandro Zelaya, Finance Minister of El Salvador, asked the World Bank for help to implement the decision to use Bitcoin as a national currency.

In the past weeks, the government of El Salvador has made a revolutionary decision in the cryptocurrency universe. Several other countries followed El Salvador, which signed the bill to use Bitcoin as a parallel official currency alongside the US Dollar. On Wednesday, El Salvador asked the World Bank for help on the Bitcoin decision. Making a statement on Wednesday, El Salvador's Minister of Finance Alejandro Zelaya stated that the country requested assistance from the World Bank to implement the decision to use Bitcoin as official currency. Zelaya stated that El Salvador applied to the World Bank for technical assistance on enacting Bitcoin as a currency and on the rules. He stated that the ongoing talks with the International Monetary Fund (IMF) are positive. The IMF claimed last week that the country's acceptance of Bitcoin as official currency would cause macroeconomic, financial and legal problems. El Salvador registered as the first country to accept Bitcoin as legal currency this month. President Nayib Bukele stated that Bitcoin will make a great contribution to the economy and will be positioned as a currency to be used in money transfers for El Salvadoran citizens living abroad. Bukele also noted that Bitcoin will gain 10 million potential new users together with El Salvador, and it will pave the way for fast money transfer of 6 billion dollars per year.