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Category: World Bank

imf bitcoin

World Bank Refuses to Help El Salvador Make Bitcoin Legal Tender Citing Environmental and Transparency Issues

The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender. The bank cited bitcoin’s “environmental and transparency shortcomings” as the reason. World Bank Won’t Help El Salvador With Bitcoin Law The World Bank said on Wednesday it cannot help El Salvador implement the law making bitcoin legal […]

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chief economist

Former US Treasury Secretary Larry Summers Says Cryptocurrency Is Here to Stay as Digital Gold

Former U.S. treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency is here to stay as a kind of digital gold. He believes that people want an alternative to gold that is “separate and apart from the day-to-day workings of governments.” Former World Bank Economist Larry Summers Sees Bitcoin as Digital […]

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Black Market

Nigeria Devalues Currency as Central Bank Moves to Unify Exchange Rates

In a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419.75 nairas on May 14, 2021. However, by close of business the naira had recovered and was trading around 411.25. Before the latest adjustment, the naira had fluctuated […]

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