Anti-Bitcoin protest in El Salvador surges

As the date of Bitcoin law is coming closer, protests against Bitcoin are also increasing accordingly in El Salvador.

The bitcoin law will come into effect from 7 September. And from 7 September, Bitcoin will become a currency of El Salvador. But from time to time many politicians, organisations and authorities raised negative points of view against the decision of Nayib Bukele.

Related: El Salvador Is “Playing With Fire” : Economist Steve Hanke

According to the report of Yonhap News, many Salvadorians are protesting against Bitcoin law.

This is not the first time when people of El Salvador are protesting against Bitcoin adoption. Earlier this, many Salvadorian protested and claimed that Bitcoin law will come with many disadvantages.

Read also: Protest against Bitcoin adoption Bill In El Salvador

In the latest report, Salvadorians are protesting with the same agenda to raise the issue against “Bitcoin law”.

A member of the Supreme Court of Justice’s workers’ union, Stanley Quinteros, claimed that Bitcoin law is a mandatory restriction on the economic industry to accept payment in bitcoin and this will bring huge volatility in the wealth.

“We know this coin fluctuates drastically. Its value changes from one second to another and we will have no control over it,”

Protestors claimed that most of the people of El Salvador don’t want this law but still the Government wants to introduce this law. And the government should change this rule of article no. 7 to eliminate Bitcoin as currency.

As per many reports, these protests are operated by the politicians to raise their activity against the current ruling country of El Salvador. Also we can see a recent report, where El Salvador’s president Nayib Bukele said that all payments in Bitcoin will instantly & automatically convert into dollars. So, This is probably going to be the worst situation for El Salvador in terms of political activities.

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