Yesterday, protests erupted in the streets of El Salvador over the introduction of bitcoin as a means of payment. Last week, the country became the first in the world to use virtual currency as a means of payment alongside the US dollar.
The population fears that this will lead to instability and inflation in the poor country, but according to President Naib Bukele, the currency will help the country’s citizens working abroad to send money to their relatives.
It came to more serious action when protesters set fire to a newly installed bitcoin machine.
About 4,500 people took part in the protests, accusing the president of using authoritarian means to strengthen his power, writes Reuter.
Authorities are preparing more than 200 changes to the law, including lifting the ban on re-election of the president.
The president also tightened control over the judiciary, allowing him to run for a second term in a row under restrictions from the judiciary. A few weeks ago, he fired judges of the Supreme Court and the then chief prosecutor.
However, in El Salvador it is very popular. According to a poll by La Prensa Gráfica, the president’s approval rating is 85.7%.