On Wednesday, a World Bank spokesperson stated that they are committed to helping El Salvador in numerous ways including currency transparency and regulatory processes for its Bitcoin adoption plan.
However, the international financial institution was not keen on the Bitcoin part according to Reuters, adding:
“While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”
Banks Not Big On Bitcoin
Salvadoran Finance Minister Alejandro Zelaya said the Central American country had sought technical assistance from the World Bank. A bill was passed on June 9 legalizing Bitcoin as the country seeks to use it as a parallel tender alongside the U.S. dollar.
The minister also stated that ongoing negotiations with the International Monetary Fund had been successful. However, the IMF was also concerned over Bitcoin citing “macroeconomic, financial and legal issues”.
Siobhan Morden, he
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