A law that will allow the Bitcoin-backed bonds to proceed hasn't been approved yet — and 'two to three months' of further work would be needed after that 🙄
El Salvador's Bitcoin bond has suffered yet another setback — with a top Tether executive confirming that its launch has been pushed back until later this year.
While some analysts claim that this is a sign of weak investor interest, Salvadoran officials have expressed confidence that the bond would be oversubscribed. While the move was celebrated in crypto circles, the policy was met with condemnation by the International Monetary Fund. Finance minister Alejandro Zelaya has played down the risk of these losses — and has stressed that it wouldn't jeopardize the country's economy.
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