The deputy leader of El Salvador’s opposition party, Farabundo Marti National Liberation Front(FMNL), has filed a lawsuit against the country’s recently adopted Bitcoin legislation. The party has joined forces with a group of citizens who allege that the law is unconstitutional. FMNL Joins Citizens Opposing El Salvador’s Bitcoin Law Jamie Guevara, the deputy leader of FMNL has banded together with a group of Salvadorans opposing the country’s BTC adoption. Guevara and his group have denounced the landmark legislation, passed by the country’s populist president Nayib Bukele, as unconstitutional. Oscar Artero, one of the citizens involved with the litigation said, “I bring a lawsuit of unconstitutionality against the decree issued by the Bitcoin Law for being a decree lacking legality, lacking foundation, without considering the significance and harmful effects that such a law will cause to this country.” Furthermore, he asserted that the legislation was brought to “loot people’s pockets” as the cryptocurrency is tax-exempt. Meanwhile, advocates of the legislation think differently. Jack Mallers, CEO of payments application Strike, opines the Bitcoin law will lead to an age of human freedom and an inclusive economy. Nearly 80% of Salvadorans Would Not Accept Payments in Bitcoin Guevara and his supporters are not the only vocal critics against the country’s adoption of BTC as legal tender. Spanish news publication El Mundo recently reported on a survey conducted by the Salvadoran Chamber of Commerce and Industry, which found that 80% of citizens would not agree to accept Bitcoin for payments. Concerns erupting over the legislation can be attributed in no small part to El Salvador’s history of corruption in public and private spheres. Also, it doesn’t help that the country is led by a hybrid regime, which according to The Economist’s Democracy Index 2020 report, is only one step above an authoritarian regime. What’s more, the tropical country ranks poorly on Transparency International’s Corruption Perceptions Index. Just last month, the U.S. announced that it was suspending aid to El Salvador’s national police and a public information institute and redirecting the funds to civil society groups after Bukele’s allies voted to oust the attorney general and some top judges.
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