Fall is traditionally the open season for United States financial regulators. The thicket of news coming out of Capitol Hill, federal courts and various regulatory agencies can feel overwhelming around this time, especially for those of us residing outside of these venerable institutions’ purview. It is also clear that the outcomes of these legal battles will have tremendous effects on crypto markets, adoption and, generally, the relationship between state power and the industry worldwide. But that is not the only reason for anyone interested in how the old world adapts to digital finance to follow U.S. developments closely. Gensler of …

Despite warnings from global agencies regarding its adoption of Bitcoin (BTC), El Salvador’s government continues to seize market opportunities. As the Bitcoin price fell below $46,000 on Monday morning, Salvadoran President Nayib Bukele announced on Twitter that the country has “bought the dip.” With 150 new coins, the Central American government now holds 700 BTC, worth close to $32 million at the time of writing. In an obvious nod to the “not financial advice” disclaimers shown around the crypto ecosystem, Bukele shared his “presidential advice” by reminding, “They can never beat you if you buy the dips.” Presidential advice — …

Bitcoin (BTC) starts a new week with a decidedly bearish move — but one that fails to shake investor confidence in the bull run. A mixed weekend saw BTC/USD close above $47,000 only to lose all of its previous gains to challenge $45,000 support hours later. It’s a delicate situation — not just Bitcoin, but stocks and sentiment are taking a beating as the Evergrande implosion in China unravels. What could affect the cryptocurrency market? As analysts expect a “choppy” week for BTC price action, Cointelegraph takes a look at five factors worth considering when charting where Bitcoin might be …

El Salvador now hosts the third-largest network of crypto ATMs after the United States and Canada, amounting to 70% of all crypto ATMs in South America. According to data from Coin ATM Radar, El Salvador has exceeded United Kingdom’s crypto ATM count after deploying 205 crypto ATMs to date to facilitate local Bitcoin transactions and conversions from Bitcoin (BTC) to U.S. dollars. Comparing this to Statista data from Aug. 16, it becomes evident that El Salvador has successfully installed 201 ATMs in just one month. Beforehand, the country ranked 43rd on the list with just four functional crypto ATMs. President …

Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing Bitcoin (BTC) as legal tender nationwide on Sept. 7. According to a report from Reuters Thursday, El Salvador’s Bitcoin embrace exposes its economy to significant financial risks and could pose challenges for the country’s lending industry. The credit agency also believes the move could also dampen El Salvador’s chances of securing a $1-billion loan agreement it is seeking from the International Monetary Fund (IMF). “The risks associated with the adoption of bitcoin as legal …

Bitcoin detractors and those protesting the policies of El Savador President Nayib Bukele have destroyed a crypto kiosk in the nation’s capital city. News outlet Teleprensa and others posted videos on social media showing a Chivo-supported kiosk in San Salvador burning amid a crowd of journalists and protesters on Wednesday. The Bitcoin (BTC) machine, one of many arranged by the El Salvador government since its acceptance of the cryptocurrency as legal tender in the country, could be seen defaced with anti-BTC logos and a sign saying “democracy is not for sale.” Los manifestantes quemaron el kiosko Chivo como medida de …

Just a week after Bitcoin (BTC) became legal tender in El Salvador, President Nayib Bukele has admitted that the rollout of the state Bitcoin wallet was too much of a challenge. Chivo, El Salvador’s official Bitcoin wallet, has temporarily disabled new registrations and halted app downloads for new smartphone models due to ongoing issues with the app, Bukele said on Twitter late Monday. “Both things will be enabled until the application has no errors,” the president noted, adding that the Chivo team expects to resume registrations and downloads in a couple more days. “The technical errors of the Chivo wallet …

Too much is happening in the realm of crypto policy and regulation to leave the biggest developments of each week without a roundup and at least some conceptual reflection. Starting today, we are getting back to decoding crypto law and everything around it that is worth decoding. Who’s next to follow El Salvador? Eyeballs galore will be pinned to the great Salvadoran experiment from now on. People with PhDs in economics and applied statistics within central banks and research institutes will chase every accessible data point that could be remotely helpful in making sense of the effects of Bitcoin’s adoption …

On Sept. 7, in a historic first, the small Central American nation of El Salvador adopted Bitcoin as legal tender. The true significance of this day for how people all around the world exchange value and what meaning they ascribe to the concept of money will take some time to reify and be fully understood. Yet, what is already clear is that September 2021 will be up there next to January 2009 in the history books of the digitization of finance. Surrounded by controversy, protests, bumpy infrastructure rollout — how else? — but also the joy and optimism of millions …

The government of El Salvador will reportedly exempt investors from paying a capital gains tax and an income tax on Bitcoin (BTC), according to a presidential legal counsel. Javier Argueta, a legal adviser to President Nayib Bukele, is looking to encourage foreign investment through major tax breaks on Bitcoin, Agence France-Presse reported on Sept. 10. “If a person has assets in Bitcoin and makes high profits, there will be no tax. This is done obviously to encourage foreign investment,” Argueta said, adding that El Salvador will impose no taxes on “either the capital increase or the income.” Argueta reportedly noted …

The year 2021 will probably go down the history books as one of Bitcoin’s (BTC) most interesting years, given its recent uptake by billionaires and adoption by mainstream institutions, not to mention El Salvador’s move to make it legal tender. In El Salvador’s case, it almost seems as if the whole world is watching this experiment to see whether it will be a success or a total failure for the Central American nation. With Sept. 7 marking the official implementation of Bitcoin as a legal tender in El Salvador, a wave of protests in the country against the move has …

El Salvador’s move to embrace Bitcoin has ruffled the feathers of bond investors, with yields spiking as investors signal uncertainty for the emerging economy. A Wednesday report published by Bloomberg notes that recently, the yield curve on El Salvador’s bonds has inverted, meaning bonds with short-term maturities are now yielding more than is due from the instruments. It stated: “That’s generally considered a bad sign as it means investors see shorter-term debt as riskier, and most yield curves will slope upwards given the inherent uncertainty of pricing things over the longer-term." Ben Emons of Medley Global Advisors emphasized that El …