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Monday, 18 October 2021 (YJC)_ Thousands take to the streets in San Salvador to protest the government's decision to legalize the digital currency Bitcoin.
Thousands of people in the Central American capital, San Salvador, staged street protests on Sunday in protest of Vice President Buchel's decision to legalize the bitcoin trade in the country.
According to AFP, protesters from all over the country chanted slogans and placards calling the digital currency bitcoin a scam and chanting slogans against dictatorship and authoritarianism in the country.
Many major countries around the world, including China and the United States, oppose the legalization of the Bitcoin digital currency, calling it detrimental to their economy and national currency.
China's central bank recently announced that it would ban financial institutions from providing services to digital currency transactions and increase oversight to prevent such transactions.
Following this decision, the value of bitcoin in the digital market fell by 5%.
"The people of El Salvador are tired of this authoritarian government," said Ricardo Navarro, head of an environmental NGO that took part in the protests.
He stressed that the government has already bothered us with bad economic policies and now this proposal on bitcoin will hit the country's economy.
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