El Salvador has undoubtedly been making progress in the crypto-verse. The region went on to give Bitcoin a legal tender and continues to embrace the king coin. While some speculated that El Salvador would go all-in on embracing crypto, a Minister in the region stated that it would be too soon to give out salaries in Bitcoin.
Several agencies continue to question the El Salvadorean government’s decisions. This list includes the International Monetary Fund [IMF] amongst various others. Nevertheless, the region garnered an array of accolades for its latest move. While the government has been looking at ways to mine Bitcoin efficiently, Bitcoin-based wages were still not in the picture, the Minister of Labor and Social Welfare, Rolando Castro, affirmed.
El Salvador hasn’t officialized Bitcoin-based wages
El Salvador saw the arrival of several crypto influencers as they wanted to meet President Nayib Bukele. With this at bay, Castro took to Twitter to note that the region wouldn’t be processing salaries in Bitcoin. Adding that it was too early or “premature” to address the whole Bitcoin-based wages aspect, Castro tweeted,
“Clarification. At no time have I raised that, when asked I only said that it was too premature to talk about wages, that I am focused on finding more and better jobs. The monetary issue corresponds to the economic cabinet of which I am not part.”
While Bukele’s Bitcoin law involved the inclusion of the king coin into the financial system of the country, the President hadn’t revealed anything about the same yet.
Furthermore, the country has been harboring a lot of guests ever since Bitcoin found a legal stature. The google searches for the phrase ” El Salvador Real Estate” reportedly hit a new high following the news of Bitcoin.
El Salvador has undoubtedly lured in several into the country which could further pose beneficial for both, the government as well as the crypto-verse.