El Salvador To Host 44 Countries For Bitcoin Discussion

Table of Contents

• President Announces Bitcoin Meeting
• Are We Going To See More BTC Adoption? 

President Nayib Bukkele has announced that financial authorities from 44 countries are meeting this Monday in El Salvador to discuss Bitcoin and other related matters. 

President Announces Bitcoin Meeting

According to his Twitter announcement, 32 central banks and 12 financial authorities are meeting to discuss matters of financial inclusion, digital economy, banking the unbanked, El Salvador’s Bitcoin rollout, and its benefits in the country.

The noteworthy central banks and financial authorities attending the meeting include the Central Bank of São Tomé and Príncipe, Central Bank of Paraguay, National Bank of Angola, Bank of Ghana, Bank of Namibia, Bank of Uganda, Central Bank of the Republic of Guinea, Central Bank of Madagascar, Bank of the Republic of Haiti, and the Bank of the Republic of Burundi, Central Bank of Eswatini and its Ministry of Finance, Central Bank of Jordan, Central Bank of The Gambia, National Committee of Banks and Seguros of Honduras, Directorate General of Treasury, Ministry of Finance and Budget, Madagascar, and the Maldives Monetary Authority. 

Also in attendance will be the National Bank of Rwanda, Nepal Rastra Bank, Sacco Societies Regulatory Authority (SASRA), Kenya, State Bank of Pakistan, General Superintendency of Financial Entities of Costa Rica, Superintendence of the Popular and Solidarity Economy of Ecuador, and the Central Bank of El Salvador. 

Are We Going To See More BTC Adoption? 

El Salvador has been leading the charge for Bitcoin adoption, especially since it officially became the first country to adopt the BTC as legal tender in 2021. Not only that, but the country’s president has been consistently buying the dip at every opportunity to bolster its Bitcoin reserves. The pro-Bitcoin policies have also favored the country’s tourism market, as foreign investors flocked here in large numbers last year. 

Since then, other countries, especially ones with majority unbanked populations, have been flirting with the idea of crypto as legal tender to move away from colonial currency mechanisms. The Central African Republic (CAR) recently became the second country to legalize Bitcoin. Another Central American nation, Panama, is also seriously considering the legalization of Bitcoin to overcome the effects of inflation. If its president signs the recently introduced Bitcoin bill into law, Panama will become the third country to adopt BTC as legal tender, only a month after CAR. The confluence of all these different countries in El Salvador could open up routes of discussion about the benefits of adopting Bitcoin as a legal currency. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.