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According to a survey done by the Central American University 100 days after the Bitcoin Law came into force: 34.8% of the population has no confidence in bitcoin, 35.3% has little confidence, 13.2% has some confidence, and 14.1% has a lot of confidence. 56.6% of respondents have downloaded the government bitcoin wallet; among them 62.9% has ...
The Department of Justice has been cleared to sell off tens of thousands of Bitcoins acquired as part of the government’s largest-ever seizure of crypto assets. A federal judge denied a motion ...
The State Bank of Vietnam has declared that the issuance, supply and use of bitcoin and other similar virtual currency is illegal as a mean of payment and subject to punishment ranging from 150 million to 200 million VND, [134] but the government does not ban bitcoin trading as a virtual goods or assets.
The incoming president has also pledged to form a crypto advisory council and create a bitcoin strategic reserve from the stockpile amassed from government seizures from cyber criminals.
On a longer time frame, as governments carry higher debt and higher deficit, leading to more monetary debasement, Bitcoin holds relative value to the dollar, as is evident in Bitcoin's long term ...
Classification of bitcoin by the United States government is to date unclear with multiple conflicting rulings. In 2013 Judge Amos L. Mazzant III of the United States District Court for the Eastern District of Texas stated that "Bitcoin is a currency or form of money". [12]
In the early hours after the law took effect and the official launch of new technologies to deal with a major change to the national currency infrastructure, the government had to take its bitcoin e-wallet, Chivo, offline due to excessive load. [23] The Bukele government increased server capacity and brought the e-wallet back online by mid-day.
For Bitcoin enthusiasts, there's no more important question for Bitcoin than that of its legal status. Earlier this year, Bitcoin was most frequently cited as a way to launder money or purchase drugs.