London Daily

Focus on the big picture.
Wednesday, Oct 08, 2025

Salvadorans Protest As The Bitcoin Law Adoption Date Approaches

Salvadorans Protest As The Bitcoin Law Adoption Date Approaches

While the president of El Salvador, Nayib Bukele prepares for the day that the Bitcoin Law becomes effective, the number protests against it are increasing.

The political situation in El Salvador is becoming more tense as the country approaches the official adoption date, 7 September, for Bitcoin as legal tender.

According to the new Law, all economic agents must accept Bitcoin along with the dollar as means of payment.

According to president Bukele the measure aims to benefit the people and save the country close to $400 million in remittance commissions, guaranteeing instant and more secure financial transactions.

But the Salvadoran people don’t seem to share the president’s view.

Protests Against Bitcoin Adoption

The past few days have witnessed annoyance and fear of the imminent application of the Law have becoming the mood of Salvadorans. Demonstrations have begun in the streets against Bitcoin.

As reported by Euronews, hundreds of protesters have filled the streets to raise their voices against the Law. Among the organizing groups were workers, veterans, and pensioners.

Uncertainty seems to be the crucial point of concern. Stanley Quinteros, a member of the Supreme Court of Justice’s workers’ union, told Reuters that the mandatory adoption of bitcoin could damage Salvadoran finances as there is no way to control or stabilize prices.

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

According to the protestors almost nobody in the country wants Bitcoin, and interestingly they are against the fact that its use could facilitate corruption in a country known for its authoritarian and non-transparent policies.

Push Against Bitcoin

Earlier, the Salvadoran Association of International Cargo Carriers (ASTIC) also organized massive protests, demanding the modification of Article 7 of the Bitcoin Law that stipulates the mandatory acceptance of Bitcoin.

The Association’s official statement read:

“No Central American carrier contracted by an economic entity in El Salvador will accept bitcoin as a form of payment, creating divisionism in the sector for paying the foreigner in dollars and the national for being obliged with the cryptocurrency.”

The association issued a threat, saying that if they do not receive a response to their requests, they will begin to charge an additional 20% fee to those who pay freight with Bitcoin to protect themselves from the volatility of the cryptocurrency.

Another group of activists, students and unions last month gathered in front of the Congress, asking for the government to drop the Bitcoin Law. Their argument was that the law was introduced and approved without any consultation and could potentially harm the interest of the people.

The group argued in a written statement that Bitcoin’s decentralization could do more harm than good:

“In conclusion, bitcoin would facilitate public corruption and the operations of drug, arms and human traffickers, extortionists and tax evaders. It would also cause monetary chaos, hit people’s salaries, pensions and savings, ruin many MSMEs, affect peasant families and hit the middle strata.”

Nayib Bukele, who seems absolutely certain that his decision is the best for his people, is not swayed by the protesting voices and tweeted that his adversaries will suffer a double loss once Bitcoin starts to be used as legal tender.

Translation of his tweet:

“The awkward opposition always plays one-step chess. They have bet everything to scare the population about Bitcoin law and they may achieve something, but only until September 7. Once in effect, people will see the benefits, they will be left as liars and they will lose double”

Source: Salvadorans Protest As The Bitcoin Law Adoption Date Approaches – Fintechs.fi

Comments

Oh ya 4 year ago
He should have said.. Once in affect I will have compete control over the people. They will dance on the head of a pin for me or I will turn off their electronic bank accounts. If people let governments force crypto they will have complete control over the people. JP Morgan once said back about 1918 let me control the money and I don't care who makes the laws. And that saying would be valid very much today

Newsletter

Related Articles

0:00
0:00
Close
France: Less Than a Month After His Appointment, the New French Prime Minister Resigns
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Sarah Mullally Becomes First Woman Appointed Archbishop of Canterbury
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
US Prosecutors Gained Legal Approval to Hack Telegram Servers
Macron Faces Intensifying Pressure to Resign or Trigger New Elections Amid France’s Political Turmoil
Standard Chartered Names Roberto Hoornweg as Sole Head of Corporate & Investment Banking
UK Asylum Housing Firm Faces Backlash Over £187 Million Profits and Poor Living Conditions
UK Police Crack Major Gang in Smuggling of up to 40,000 Stolen Phones to China
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Trump Proposes Farm Bailout from Tariff Revenues Amid Backlash from Other Industries
FIFA Accuses Malaysia of Forging Citizenship Documents, Suspends Seven Footballers
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
A Dollar Coin Featuring Trump’s Portrait Expected to Be Issued Next Year
Australia Orders X to Block Murder Videos, Citing Online Safety and Public Exposure
Three Scientists Awarded Nobel Prize in Medicine for Discovery of Immune Self-Tolerance Mechanism
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
×