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El Salvador is first county to make bitcoin legal tender


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Roberto Carlos Silva, owner of La Zontena store, poses at his business where he accepts Bitcoins at El Zonte Beach in Chiltiupan, El Salvador, on June 8, 2021. Reuters
San Salvador, June 9
El Salvador has become the first country in the world to adopt bitcoin as legal tender after Congress approved President Nayib Bukele s proposal to embrace the cryptocurrency.
With 62 out of 84 possible votes, lawmakers voted in favour of the move to create a law to adopt bitcoin, despite concern about the potential impact on El Salvador s programme with the International Monetary Fund.
Bukele has touted the use of bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the US dollar will also continue as legal tender. ....

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Analysis: Cryptocurrency ethereum is flourishing but risks linger


By Syndicated Content
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – Ethereum has outperformed major digital currency rivals this year, bolstered by the surge in decentralized finance (DeFi) and the anticipation of a technical adjustment this summer, but it faces hurdles that could stall its rise.
With a jump of more than 350% in its price this year, ethereum has the second-largest market capitalization after bitcoin, but not as much cache and perhaps more operational challenges that could prevent it from eclipsing its major rival.
In the crypto world, the terms “ethereum” and “ether” have become synonymous. Technically, ethereum is the blockchain network in which decentralized applications are embedded, while ether is the token or currency that enables or drives the use of these applications. ....

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