Examinando por Autor "Sanz Bas, David"

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    El Salvador: an analysis of the monetary integration law and the bitcoin law
    (Centro de Economía Política, 2024) Nañez Alonso, Sergio Luis; Echarte Fernández, Miguel Ángel; Sanz Bas, David; Pérez Rico, Cristina
    The objective of this article is to analyze the two most important monetary laws that have been implemented in El Salvador, namely the Monetary Integration Law (MIL) and the Bitcoin Law. The most important articles of both laws will be analyzed, as well as the consequences of dollarization, and the possible advantages and risks associated with the adoption of Bitcoin as legal tender. Although this measure may have some positive aspects by encouraging financial innovation and facilitating remittances, the macroeconomic risk is very high due to the volatility of this cryptocurrency. So far no positive results have been achieved as the acceptance has been very low and there has been a depreciation of the asset in recent months.