4 ms·

What are the regulatory, financial and legal concerns? Why are they a deal-breaker? If there were no concerns El Salvador wouldn’t need to ask any help, would i

• tsimionescu 5y ago
  KYC and AML are some of the biggest regulatory and legal hurdles for bitcoin. On the financial side, tying your country to a coin whose value you can't control, and is known to fluctuate wildly, is obvious financial insanity.
  • errantmind 5y ago
    You could say the same thing about cash. Also, gold's value seems to fluctuate quite a bit and it was / is the basis for some currencies
    • Kbelicius 5y ago
      Currently there are no currencies that are based on gold. Must be a reason for that.
    • tsimionescu 5y ago
      Yes, cash is problematic for KYC and AML. That's why cash transactions and ownership are highly regulated in most of the world. And gold's day-to-day value doesn't fluctuate nearly as much as bitcoin. Still, it does fluctuate too much, which is why the entire world has abandoned the idea of using it as a representation of the value of money.