World Bank says can't help El Salvador on bitcoin due to environmental, transparency concerns

by Reuters
Tuesday, 7 September 2021 16:20 GMT

Sept 7 (Reuters) - The World Bank reiterated on Tuesday that it could not help El Salvador in its process of adopting bitoin as legal tender "given environmental and transparency shortcomings," a World Bank spokesperson told Reuters.

"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," the spokesperson said in a statement.

The Central American nation became the first in the world https://www.reuters.com/business/finance/el-salvador-leads-world-into-cryptocurrency-bitcoin-legal-tender-2021-09-07 to adopt the cryptocurrency as legal tender on Tuesday. (Reporting by Frank Jack Daniel, Writing by Laura Gottesdiener; Editing by Anthony Esposito)

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