El Salvador News: El Faro, a popular news outlet in El Salvador, reported that the El Salvador government is considering making another government-issued cryptocurrency available to its citizens alongside Bitcoin.

 

 

You can take a look at the summary items below:

  • El Salvador took Bitcoin to legal tender in June.
  • A newspaper in the country claims that the government is planning to issue a national cryptocurrency.

The cryptocurrency, which is planned to be created by the government, is scheduled to be issued by the central bank and pegged to the value of the US dollar, El Faro reported on Friday. It is also known to be backed by real US dollar reserves.

This crypto money, which is planned to be issued by the government, is thought to be available until next year. Another point is that it is thought to be named “Colón-Dollar”, which refers to the old national currency of the country, whose currency was replaced by the US dollar in 2001. El Faro, a popular news source in El Salvador, reported that the El Salvador government is considering making another government-issued cryptocurrency available to its citizens alongside Bitcoin.

You can also take a look at the summary articles below:

  • El Salvador took Bitcoin to legal tender in June.
  • A newspaper in the country claims that the government is planning to issue a national cryptocurrency.

The cryptocurrency, which is planned to be created by the government, is scheduled to be issued by the central bank and pegged to the value of the US dollar, El Faro reported on Friday. It is also known to be backed by real US dollar reserves.

This crypto money, which is planned to be issued by the government, is thought to be available until next year. Another point is that it is thought to be named “Colón-Dollar”, which refers to the old national currency of the country, whose currency was replaced by the US dollar in 2001.

He noted that from among government officials based in El Salvador, they want all cryptocurrencies to be legal tender in El Salvador. According to El Faro, Ibrajim, brother of Bukele (President of El Salvador):

“But for that to happen, we need government infrastructure that is fit for the task for what will happen in the future,” he said.

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