The president of El Salvador, Nayib Bukele informed through his Twitter account that all citizens who use the chivo wallet platform to fill the fuel tank will enjoy a discount of almost 20 cents for each gallon. El Salvador’s action in offering subsidies in Bitcoin seeks to promote the use of the digital wallet. As well as that of the leading cryptocurrency in the market, within the country.
2. The state company Chivo negotiated with the largest gas station companies in our country, so that starting tomorrow, their stations will sell each gallon of fuel $ 0.20 cheaper, with @chivowallet.
This erases several increases in the international price of fuels. pic.twitter.com/V3qG168isV
– Nayib Bukele 🇸🇻 (@nayibbukele) September 30, 2021
«The state company Chivo negotiated with the largest gas station companies in our country. So that starting tomorrow, their stations will sell each gallon of fuel $ 0.20 cheaper, with Chivo ».
The president of El Salvador stressed that there was no limitation on purchase volume, and that any citizen of the country could take advantage of the discount. However, not all Salvadorans approve of this initiative. Recall that since the Bitcoin law was launched in the Central American country, there have been many criticisms. As well as the obstacles that the government of President Nayib Bukele has had to face. However, new news continues to emerge every day suggesting a strong start-up relative to Bitcoin.
Apart from information on discounts, Bukele announced the approval of a fund to help “stabilize” the price of compressed fuel on the domestic market. The discount in question is offered exclusively to those who use Chivo.
Brazil could pass a bill to make Bitcoin legal in the country
Aureo Ribeiro, deputy from Brazil, presented a bill for payments with cryptocurrencies to be recognized by official bodies in the country. In this way, Bitcoin (BTC) would become a payment currency in the country. Which would attract investment and allow people to operate with confidence. According to the legislator.
The initiative presented by Aureo Ribeiro proposes the regulation of “virtual assets”, which he defines as a digital representation of value that can be transferred electronically and used for payments and investments. This, says the deputy, will allow regulating a market that, although it exists in practice, is not recognized by Brazilian law.
Likewise, it will mean a measure in favor of the prevention of financial crimes. For those who commit fraudulent practices such as money laundering, penalties of at least four years in prison and fines of two thirds of the money laundered will apply.
Crypto exchange BitOasis will help Dubai Police report cryptocurrency scams
BitOasis, a cryptocurrency exchange in the United Arab Emirates, has partnered with the Dubai Police. To raise awareness of cryptocurrency trading and investment fraud.
The exchange’s partnership with the Dubai Police is intended to help build the regulations that will make crypto-security for investors in the region.
“The BitOasis team has been working very closely with lawmakers and regulators to build trust and transparency in the crypto ecosystem. The partnership with the Dubai Police is also a move in the same direction. ‘
Silvergate bank gave a line of credit of USD 100 million to Marathon Digital
Marathon Digital Holdings, a crypto mining company, obtained a line of credit for USD 100 billion with Silvergate Bank using USD and Bitcoin on October 1.
The company will use the credit to buy Bitcoin (BTC), mining equipment and finance its mining operations. Marathon Digital said it expects Silvergate to renew the credit line annually after the initial one-year agreement.
Additionally, Marathon Digital reported that it had produced over 1,252 BTC, during the third quarter of 2021. With 340.6 BTC holders in September alone. An increase of 91% compared to the second quarter, according to a report.
Did you like the content? Share it