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US encourages El Salvador to regulate use of bitcoin

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AFP

San Salvador (AFP) – A senior US State Department official met El Salvador President Nayib Bukele on Wednesday and recommended the regulation of bitcoin once it becomes legal tender in the Central American country from September. El Salvador uses the US dollar as its official currency but on June 9 approved the adoption of bitcoin as its legal currency. It intends to use the cryptocurrency for all transactions, making it the first country to do so. “I did suggest to the president that whatever El Salvador chooses to do, you ensure that it is well regulated, that it is transparent and that it i…

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