El Salvador Financial News

Tether, the preeminent stablecoin firm globally, has once again exemplified its resolve against illicit financial activities by freezing 32 cryptocurrency addresses, implicated in terrorism and warfare funding within Israel and Ukraine. The move showcases the intensifying collaboration between cryptocurrency establishments and global law enforcement to counteract the rising tide of digital-financed crime.

El Salvador can follow Singapore’s lead and become a financial center in the Americas, says VanEck strategy advisor Gabor Gurbacs.

El Salvador has introduced a $1,000 (Rs 83,240) fee for passengers traveling from Africa or India as part of its efforts to address irregular migration through the Central American nation, according to a Bloomberg report. The decision, announced by El Salvador's port authority on October 20, mandates that individuals using passports from India or more than 50 African nations will be subject to this fee. The collected funds are earmarked for the enhancement of the country's primary international airport.

passports from India or any one of more than 50 African nations will be obliged to pay the fee, El Salvador’s port authority said in a statement on its website dated October 20. The money raised will be used to improve the nation’s main international airport, the authority added. El Salvador President Nayib Bukele this week met Brian Nichols, US assistant secretary of state for Western Hemisphere affairs, to discuss “efforts to address irregular migration," among other topics.

An El Salvador town has grown tired of waiting for President Nayib Bukele to build Bitcoin City – and will instead build its own “Bitcoin City” project “a few kilometers away.”

Iranian woman who died in police custody in Iran last year, sparking worldwide protests against the country’s conservative Islamic theocracy, was awarded the European Union’s top human rights prize on Thursday. The EU award, named for Soviet dissident Andrei Sakharov, was created in 1988 to honor individuals or groups who defend human rights and fundamental freedoms.

Bitcoin's price fluctuating journey continues as it trades just below the $28,500 mark, with a modest increase of less than 0.50% on Wednesday. Several noteworthy events have punctuated the cryptocurrency landscape. 

In an interview with Forbes on Sunday, El Salvador's Vice-President Ulloa credited the nation's recent economic resurgence to its adoption of Bitcoin as legal tender.

Rubio now has to get used to that pesky thing Earthlings call gravity. «Walking hurts a little bit the first few days, the soles of your feet and lower back,» he said at a news conference Friday at NASA's Johnson Space Center in Houston, Texas. «I think there is a certain level of pain that comes with the fact that your lower back now supports half your weight.» Rubio returned to Earth two weeks ago after spending 371 days in space, having taken off in September of last year aboard a Russian rocket for what was supposed to be a routine, six-month mission. The Soyuz spacecraft that was supposed to bring them back was docked at the International Space Station to be used as an emergency backup vehicle. But then it sprung a coolant leak in December, probably due to a micrometeoroid. So as a precaution, the Russian space agency, Roscosmos, returned the vessel to Earth.

Pakistan has chosen Erica Robin to represent the nation at the Miss Universe beauty pageant, igniting a wave of controversy. According to the BBC, this decision has not been well-received by several conservatives within the country who argue that Robin, aged 25, is representing a nation that doesn't wish to be represented. Pakistan, a predominantly Muslim nation, rarely participates in beauty pageants, as per the BBC report.

Mexico's president says he rejected a U.S. request to set up migrant transit centers in Mexico

As Bitcoin continues its journey in the global financial landscape, its trajectory seems increasingly intertwined with expert predictions, sustainability initiatives, and strategic approvals. 

On October 4, El Salvador announced the launch of Lava Pool, the country's first Bitcoin mining pool powered entirely by renewable geothermal energy. The venture represents an important milestone in El Salvador's efforts to integrate Bitcoin into its energy infrastructure.

El Salvador officially launched its first local Bitcoin (BTC) mining pool as the Volcano Energy project begins mining blocks through Lava Pool in partnership with Luxor Technology.

A leading Argentinian presidential candidate says he will launch a CBDC if he is elected – putting him on a collision course with a pro-Bitcoin dollarization advocate.

The International Monetary Fund (IMF) published a working paper that highlights risk management strategies and policy changes for regulators.

A working paper published by the International Monetary Fund (IMF) proposed a count vulnerabilities and potential policy responses for the crypto sector. 

Fintech innovations and emerging technologies have swept the world, causing global lawmakers to rush to understand and regulate them. 

This week, Cointelegraph reporter Joe Hall takes podcast listeners back to school — Bitcoin (BTC) school. 

Correction (September 11th): A previous version of this article said that only Narendra Modi, India’s prime minister, comes close to Jokowi’s popularity. But there are leaders in smaller countries, such as El Salvador’s president, Nayib Bukele, who have achieved consistently higher approval ratings. We have changed the text to reflect that. © 2023, The Economist Newspaper Limited. All rights reserved. From The Economist, published under licence. The original content can be found on www.economist.com

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