Crypto
Five years on, was El Salvador\'s bitcoin legal tender experiment a failure?
Five years after El Salvador adopted bitcoin as legal tender, the expected benefits such as greater financial inclusion and lower remittance costs appear limited. Studies found usage concentrated among young, urban, educated men and existing bank users, while the government’s Chivo wallet did not significantly improve access for the unbanked. Bitcoin’s remittance share fell, and policy later retreated as the country agreed to IMF support and revised its bitcoin law.
