This implies that the El Salvador’s new economy will rely heavily on money sent back from workers abroad.
He said that some 70% of people in El Salvador lack access to traditional financial services.
According to the proposed regulation, its use as legal tender will go into law in 90 days, with the bitcoin-dollar exchange rate set by the market.
Government officials from El Salvador will meet with the International Monetary Fund in the coming days to discuss the plan.
He follows the news, gets the details, reads between the lines and points out what is evident but not obvious.