El Salvador Made Bitcoin A Legal Tender: Why That Will Backfire

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El Salvador Made Bitcoin A Legal Tender: Why That Will Backfire

Government regulatory attacks by China, Britain and others have beaten down Bitcoin from its lofty highs. But El Salvador made a stunning announcement that it has made the crypto legal tender, usable to pay government taxes and for the buying and selling of products and services. This segment of What's Ahead warns that, for a variety of reasons, El Salvador's move is no lifeline. In fact, it will backfire, thereby hurting the reputation of cryptocurrencies and giving ammunition to those who want to stifle their use. Follow me on Send me a secure tip Steve Forbes is Chairman and Editor-in-Chief of Forbes Media. Steve's newest project is the podcast "What's Ahead," where he engages the world's top newsmakers, Steve Forbes is Chairman and Editor-in-Chief of Forbes Media. Steve's newest project is the podcast "What's Ahead," where he engages the world's top newsmakers, politicians and pioneers in business and economics in honest conversations meant to challenge traditional conventions as well as featuring Steve's signature views on the intersection of society, economic and policy. Steve helped create the recently released and highly acclaimed public television documentary, In Money We Trust?, which was produced under the auspices of Maryland Public television. The film

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