El Salvador Current Affairs, GK & News

Right to Truth Day

On 24th March annually, the International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims is observed. Overview: This day is observed to pay tribute to Monsignor Óscar Arnulfo Romero. He actively took part in denouncing human rights violations of El Salvador’s most vulnerable individuals. Archbishop ..

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Dubai Virtual Assets Regulation Law

Dubai has introduced crypto asset regulation, joining the ranks of Singapore, the United States, the United Kingdom, El Salvador, and other countries that have enacted cryptocurrency laws. The Virtual Asset Regulation Law has been passed by Dubai to regulate this new-age industry, which has been rapidly expanding. Overview: An independent regulator has also been formed ..

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IMF on El-Salvador Bitcoin legal tender

The International Monetary Fund recently asked El Salvador to remove the legal status of bitcoin. What happened? In September 2021, El Salvador became the first country to allow its consumers to use cypto currencies. Fear arose all over the country that bitcoin might bring inflation and instability to the country. What is IMF Saying? IMF ..

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India-El Salvador: Third Foreign Office Consultations held

India and El Salvador held their Third Foreign Office Consultations in San Salvador on September 17, 2021. Highlights Indian side was led by Secretary (East), Riva Ganguly Das while and El Salvadoran side was led by Vice Minister of Foreign Affairs, Integration & Economic Promotion, Ambassador Adriana Maria Mira. During the consultations, both of them ..

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Cuba to recognise and regulate cryptocurrencies

On August 26, 2021 Government of Cuba announced to recognize and regulate cryptocurrencies for payment in the Island nation. Highlights This decision was taken following the popularity of cryptocurrencies increased among a technologically savvy group in Cuba as it became harder to use dollars. As per officials, Central Bank will set rules for such currencies. ..

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El Salvador: First country to formally adopt bitcoin as legal tender

El Salvador has become the first country to formally adopt bitcoin as legal tender.  Proposal to legalise cryptocurrency was put forward by President Nayib Bukele which was later approved by Congress. Highlights Even though there were concern regarding potential impact of legalising cryptocurrency on El Salvador’s program of $1 billion with International Monetary Fund, proposal was passed ..

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