Fitch Warns El Salvador’s Bitcoin Adoption Will Hurt Local Insurers’ Credit Ratings
Fitch Ratings Inc has warned that El Salvador’s move to adopt Bitcoin as a legal tender poses a severe risk to its local insurance firms. On June 9, Nayib Bukele, the President of El Salvador, influenced lawmakers to vote and eventually passed the Bitcoin law. The country will formally adopt Bitcoin as legal tender on … Continue reading Fitch Warns El Salvador’s Bitcoin Adoption Will Hurt Local Insurers’ Credit Ratings