El Salvador Beach Town Serves as Bitcoin Pilot Project
Government promotes cryptocurrency use despite global skepticism
A small beach town in El Salvador has become a high-profile test site for the country’s controversial Bitcoin policy, with local shops, restaurants, and residents encouraged to conduct transactions in the cryptocurrency.
The government says the project boosts financial inclusion and tourism, but critics warn it exposes the country to market volatility and money laundering risks.
Observers continue to debate the viability of making Bitcoin legal tender nationwide.