Salvadorians protest against Bitcoin Law, sets ATM on fire
Thousands gather on the streets of El Salvador’s capital to protest against President Nayib Bukele’s new Bitcoin Law that adopted Bitcoin as a legal tender of the country.
The protestors gathered on September 15th, the day that marked the 200th anniversary of the country’s independence, and set a Bitcoin ATM on fire. The Chivo ATM was a government-approved Bitcoin ATM and named after the ‘Chivo’ wallet.
Demonstrators called out on the authoritarian attitude of the current president and fear that the new law will bring instability and inflation to the country.
It was also revealed that Bukele has been cleared by the judiciary to run for the president’s office for the second successive term despite constitutional limits. Bukele’s government had dismissed the previous judiciary in May and appointed new judges, prompting criticism of the abuse of power.
El Salvador’s Bitcoin Act passed parliament in June with an overwhelming majority and came into force on September 7. However, since the proposal, it has been exposed to fierce opposition. Opposition local lawmakers and civic groups are suing the government over the unconstitutional law.
However, BBC reported that Bukele is backed by the support of around 85.7% of El Salvador’s population.
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