Cryptocurrency Q&A
Can foreigners invest bitcoins in El Salvador?
Can foreigners invest bitcoins in El Salvador?
AzureWave
Tue Jul 09 2024
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6 answers
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Inquiring minds want to know: does El Salvador welcome foreign investors to participate in the Bitcoin market? With the recent legalization of bitcoin as a legal tender in the country, one wonders if international investors are also allowed to partake in this novel financial landscape. Given the global nature of cryptocurrencies, does El Salvador's regulation permit cross-border investments in bitcoins? And if so, what are the procedures and requirements for foreigners to invest in bitcoins within the Salvadorian jurisdiction? Clarifying these details would be of utmost importance for potential international investors considering bitcoin opportunities in El Salvador.
6 answers
CryptoPioneerGuard
Thu Jul 11 2024
The answer is not entirely straightforward. While bitcoin is now a legal tender in El Salvador, it does not mandate that all businesses must accept it as payment.
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KiteFlyer
Thu Jul 11 2024
The announcement that foreigners investing three bitcoins in the country, equivalent to approximately $140,000, will be granted residency has sparked widespread discussion.
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Raffaele
Thu Jul 11 2024
Panama is considering a similar move, potentially following in the footsteps of El Salvador, which recently made bitcoin a legal tender.
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WhisperInfinity
Thu Jul 11 2024
However, the question remains: does making bitcoin a legal tender automatically mean that every store and merchant in El Salvador must now accept digital payments?
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RainbowlitDelight
Wed Jul 10 2024
Merchants still have the option to decide whether or not to accept bitcoin, depending on their own preferences and business needs.
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