- El Salvador ordered some Bitcoin ATMs and it will receive it soon.
- Will the ATMs convert BTC into fiat?
Just a few weeks ago, the Salvadorian Congress passed President Nayib Bukele’s Bitcoin bill. This made El Salvador become the first country to adopt bitcoin as legal tender.
Apart from giving BTC legal tender status, the bill also covers several franchises. For example, zero capital gains tax on BTC and tax payments in Bitcoin. Also, El Salvador is giving permanent residency to anyone who invests 3 BTC in the country.
Also, the government stated that they are building a Bitcoin wallet for citizens to use. Further, the authorities said they would grant a way for citizens to convert BTC to US$ instantly.
Yesterday, there was a rumor that El Salvador ordered some Bitcoin ATMs. The buzz says that these ATMs are ready to ship to El Salvador. A Twitter account tweeted last night.
— 🏄♂️ @Tapas ➕ (@TapasCrypto) June 19, 2021
However, the government did not comment on the rumor so far. But many people reacted to the tweet. Some ask which currency will the ATMs dispense. Will the ATMs convert BTC into fiat? More so, it seems like none has the answer to these questions.
El Salvador’s plan to adopt bitcoin as a legal tender hit a roadblock this week. This came when the World Bank said it would not help with the rollout of the crypto.
The World Bank said that it is committed to helping El Salvador in numerous ways. This includes currency transparency and regulatory processes. Moreover, the spokesman said that while the government did approach them for assistance on Bitcoin, they replied that this is not something the World Bank can support given the shortcomings of environment and transparency.