Fitch Ratings (Fitch Ratings) Become the latest global credit rating agency to warn El Salvador not to use bitcoin as legal tender , It expressed concern that encrypted assets may bring systemic risks to the Latin American country .

Fitch Ratings cited the country's lack of transparency in implementing bitcoin in the mainstream market , The inherent volatility of bitcoin ecosystem and the operational risks faced by citizens warn . Besides , The agency points out that , El Salvador continues to be exposed to securities of low credit quality , Also called “ Holding additional high-risk assets will only exacerbate this risk .”

6 At the beginning of , The legislative assembly of El Salvador passed the President Nayib Bukele Controversial “ Bitcoin law ”, For bitcoin from 2021 year 9 month 7 It has paved the way for its recognition as legal tender together with the US dollar . therefore , All Salvadoran enterprises will be required to accept bitcoin as a way of trading goods or services .

Fitch expects ,2020 In, it accounted for the total capital of El Salvador 21% Insurance companies will hesitate whether to use bitcoin for claims or welfare payments . The agency speculated that , If the insured chooses to pay the premium in digital currency , Insurance companies may seek “ Convert bitcoin into dollars as soon as possible , To limit exchange risk ”.

As governments and leaders continue to weigh the pros and cons of bitcoin entering mainstream finance , The finance minister of El Salvador Alejandro Zelaya To the International Monetary Fund (IMF) Guarantee , The country will continue to use dollars and bitcoin .

Before this progress , The country has applied to the International Monetary Fund 13 Billion dollar loan , But it turns out , For this organization led by the United Nations , This has become a conflict of interest . Besides , The world bank also withdrew from its plan to help El Salvador make bitcoin legal tender .


Cointelegraph Chinese as a blockchain news and information platform , The information provided only represents the author's personal views , And Cointelegraph Chinese platform position has nothing to do with , And does not constitute any investment and financial advice . Please set up a correct concept of money and investment , Improve risk awareness . In view of the fact that China has not yet promulgated relevant policies and regulations on digital assets , Chinese mainland users are advised to invest in digital money prudently .