The World Bank has refused El Salvador’s request for help on the country’s transition to adopting Bitcoin as legal tender. It cited issues with Bitcoin’s environmental impact and transparency as reasons why it will not support El Salvador move to adopt Bitcoin as an officially accepted currency .
"While the government did approach us for assistance on Bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings, " a World Bank spokesperson said. The World Bank did note however that it can help El Salvador in other ways, including “currency transparency and regulatory processes."
Earlier on Wednesday, Salvadoran Finance Minister Alejandro Zelaya said the Central America country had sought technical assistance from Banco Mundial (the World Bank). Prominent Bitcoiners weren’t pleased with the World Bank's refusal, but nor were they particularly surprised.
In a tweet today, Hinojosa changed his profile picture to feature the senator speaking into a microphone with the iconic “laser eyes,” indicating support for crypto. The lawmaker said he would be “promoting and proposing a legal framework for crypto coins in Mexico’s lower house,” specifically mentioning Bitcoin (BTC).
Voy a promover y proponer ante la Cámara de Diputados un marco legal para las criptomonedas en México #btc
I will be promoting and proposing a legal framework for crypto coins in Mexico's lower house #btc pic.twitter.com/zwhYOZ7KAg June 8, 2021
Hinojosa was not the only Mexico lawmaker indicating their support for crypto. Indira Kempis Martínez, a senator representing the state of Nuevo León, has also switched her profile to show laser eyes, with Hinojosa referring to her as a friend to the cause.
“We are going to lead the shift to crypto and fintech in Mexico,” said Hinojosa.
A new study by the United Kingdom’s Financial Conduct Authority has indicated a significant increase in cryptocurrency ownership in the country.
On Thursday, the FCA published the results of a consumer survey which found that 2.3 million adults in the U.K. now hold crypto assets, up from 1.9 million last year. Alongside the increasing number of crypto investors, the study also identified a surge in ownership volumes, with median holdings rising to 300 British pounds ($420) from 260 pounds ($370) in 2020.
The rising popularity of holding cryptocurrency comes in line with an uptick in the awareness level as 78% of adults said they have heard of crypto, up from 73% last year.
This Daily Dose was brought to you by Cointelegraph.