{"id":8229,"date":"2022-11-01T11:57:13","date_gmt":"2022-11-01T11:57:13","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=8229"},"modified":"2022-11-01T11:57:13","modified_gmt":"2022-11-01T11:57:13","slug":"el-salvadors-bitcoin-purchase-information-cant-be-made-public-trustee","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8229","title":{"rendered":"El Salvador\u2019s Bitcoin purchase information can\u2019t be made public: Trustee"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Ever since El Salvador legalized Bitcoin (BTC) as mainstream tender, President Nayib Bukele used Twitter on numerous occasions to announce the country\u2019s BTC acquisitions. However, ALAC El Salvador \u2014 a non-governmental anti-corruption bureau \u2014 was recently denied information from a state development bank, BANDESAL, regarding El Salvador\u2019s Bitcoin purchases and sales.<\/p>\n<p>As a development bank for El Salvador, BANDESAL created a $150 million trust fund to guarantee the convertibility to dollars for citizens and merchants. The request for disclosure of El Salvador\u2019s Bitcoin acquisition was denied on the grounds of confidentiality. <\/p>\n<p><em>Snippet of BANDSEL&#8217;s response to ALAC El Salvador \u2014 a non-governmental anti-corruption bureau. Source: ALAC El Salvador<\/em><\/p>\n<p>ALAC El Salvador refuted the denial by highlighting that the BTC purchases were made using public funds. Their official statement translated to:<\/p>\n<p>\u201cThe confidentiality limits the possibility for citizens to access and receive information on the operations carried out with public funds by BANDESAL.\u201d<\/p>\n<p>In its refusal statement, BANDESAL said that no information related to the Bitcoin Trust (FIDEBITCOIN) could be shared by the trustee or its board of directors to safeguard national interests.<\/p>\n<p>Publicly available information hints that El Salvador purchased 2,301 BTC to date, which has fallen in value over the past year from $103.9 million to roughly $45 million. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Pro-crypto city of Lugano and El Salvador sign economic agreement based on adoption<\/em><\/strong><\/p>\n<p>Adding on to the country\u2019s piling pressure to suffice its year-long Bitcoin purchases, Spain took over El Salvador\u2019s spot to become the third-largest crypto ATM hub in the world.<\/p>\n<p>El Salvador attained the third spot after installing 205 ATMs to support the country\u2019s thriving Bitcoin economy, amounting to a network of 212 crypto ATMs. However, Spain recently recorded 215 active ATMs, representing 14.65% of European installations.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/el-salvador-s-bitcoin-purchase-information-can-t-be-made-public-trustee\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ever since El Salvador legalized Bitcoin (BTC) as mainstream tender, President Nayib Bukele used Twitter on numerous occasions to announce the country\u2019s BTC acquisitions. However, ALAC El Salvador \u2014 a non-governmental anti-corruption bureau \u2014 was recently denied information from a state development bank, BANDESAL, regarding El Salvador\u2019s Bitcoin purchases and sales. As a development bank [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-8229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8229"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8229\/revisions"}],"predecessor-version":[{"id":8231,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8229\/revisions\/8231"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8230"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}