World Bank Rejects El Salvador’s Request For Bitcoin, Will Keep U.S. Dollar As Legal Tender


The World Bank has rejected the government of El Salvador’s request to help the country implement Bitcoin as legal tender, Reuters first reported late Wednesday.

Why it matters: The international lender’s rejection could hamper the government’s goal of making the digital currency accepted across the country within three months.

Driving the news: El Salvador’s legislature last week became the first in the world to vote in favor of formally adopting bitcoin, with plans to use it alongside the U.S. dollar, the nation’s official currency.

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