Q&A with Elena Obukhova, Founder & CEO at FAS | Fintech Advisory ServicesFollowing my previous article on \u201cBitcoin as a Legal Tender: What that Means for All of Us?\u201d I had been asked multiple questions that I decided to cover below and explain why countries are rushing into adopting Bitcoin as a legal tender.What is the reason behind Bitcoin as legal tender adoption in Latin America? Why this region?Latin America is a very special region where the majority of countries went through multiple severe financial and political crises with the government failing to help people. Different regulations and limits on foreign currencies, especially US dollar, led to the rise of the Cash Economy that was covered in \u201cBitcoin as a Legal Tender: What that Means for All of Us?\u201d. People find crypto and particularly Bitcoin the only way to protect their savings from inflation and undesired government actions.Answering the question, Bitcoin was already a part of the Cash Economy and widely in use by people in Latin America and now the governments are bringing it to the public sector. Countries failing to maintain and \u201csave\u201d the national currencies from increasing inflation instead can now adopt a currency that isn\u2019t dependent on their local politics. El Salvador, for example, already used the US dollar as a national currency. However, the US dollar doesn\u2019t address the needs of the underserved population, for example, remittances. The remittances market is huge in Latin America and crypto allows sending money with low commissions compared to traditional means to remit.The current efforts on introducing Bitcoin as a legal tender seems to be quite logical after familiarising yourself with local markets. Latin America was already the leading region on Bitcoin adoption, it was widely in use and now it\u2019s only becoming official.Such adoption was caused by numerous\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Q&A with Elena Obukhova, Founder & CEO at FAS | Fintech Advisory ServicesFollowing my previous article on \u201cBitcoin as a Legal Tender: What that Means for [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/4861"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=4861"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/4861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=4861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=4861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=4861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}