El Salvador’s Bitcoin Experiment Has Rocky Start

“El Salvador rushed to iron out snags on Tuesday after becoming the first country to adopt bitcoin as legal tender,” Reuters reports.

“The country’s adoption of Bitcoin is being seen as a real-world experiment, with proponents saying it will lower commission costs for billions of dollars sent from abroad, while critics are warning it may fuel money laundering.”

Axios: “While a 17% daily swing is far from unprecedented for bitcoin, it’s not the kind of thing most citizens want from their currencies. Neither is having a payments mechanism that can be unplugged by the government at will.”