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A political party in El Salvador has filed a lawsuit alleging President Bukele’s new Bitcoin law might be unconstitutional and harmful to the nation.
El Salvador’s intends to market Bitcoin adoption could be overturned if President Bukele’s Bitcoin legislation is known unconstitutional in the nation’s courts.
A group of taxpayers joining forces with the political party, the Farabundo Martí National Liberation Front (FMLN), has filed a lawsuit asserting President Bukele’s adoption of Bitcoin is contrary to federal law.
FMLN lawmaker Jaime Guevara directed the move together with taxpayers including plaintiff Óscar Artero, who clarified El Salvador’s Bitcoin legislation as lacking validity and failing to consider the consequences of harm would do to the nation.
Guevara declared the criticism would examine the newly appointed judges of the Constitutional Division of the Supreme Court of Justice. The FMLN came in third in the legislative elections February with nearly 7% of the vote, while President Bukele’s government established the lead with two-thirds of the vote.
A poll of 1,600 people conducted by the El Salvador Chamber of Commerce and Industry between June 11 and 15 indicated that more than 8 out of 10 individuals in El Salvador wouldn’t consent to receive wages and payments in Bitcoin. On June 16, El Salvador’s Minister of Labor and Social Welfare, Rolando Castro, said the country isn’t yet prepared to embrace Bitcoin for citizenship.
It can be stated that the situation is getting stressed for El Salvador as it’s in a situation of “enemy inside and outside” at the present time. El Salvador’s move to legalize Bitcoin prompted the International Monetary Fund to measure in. Not only that, the World Bank refused El Salvador’s request for assistance with Bitcoin implementation.
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