The rapid adoption of Bitcoin in El Salvador leaves more questions than answers

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Salvadoran President Nayib Bukele delivers his annual address to the nation before Congress in San Salvador, El Salvador, on Tuesday, June 1, 2021. (AP Photo / Salvador Melendez)

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In just a few days, El Salvador became the first country in the world to adopt bitcoin as legal tender. While many see this development as a turning point for the industry, the rush of the process leaves a lot to be understood from a technology and policy perspective. Answering these key questions will provide insight into the potential success of this initiative as well as the likelihood that it will be replicated around the world.

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I am the ESG & Impact Director at Emergents @ Weild & Co., advancing a new investment banking model focused on innovation and strategic governance. I also run a

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I am the ESG & Impact Director at Emergents @ Weild & Co., advancing a new investment banking model focused on innovation and strategic governance. I also run a blockchain discussion forum at Yale University. I conducted a national digital asset AML / CFT risk assessment for the Parliament of Cyprus and compiled regulatory recommendations for blockchain legislation, identifying global best practices. My previous posts cover industry standards for market integrity in crypto trading platforms and market infrastructure, in addition to stablecoins and central bank digital currencies. Previously, I worked on large cross-border transactions within international development institutions. I went to Notre Dame and have an MBA from Yale. I was born in Bolivia and am native Spanish and English speakers.

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