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El Salvador’s Court of Accounts to investigate Bitcoin purchase By BTC Peers


© Reuters. El Salvador’s Court of Accounts to investigate Bitcoin purchase

Recent reports reveal that El Salvador’s Court of Accounts is gearing up for an investigation into the government’s investment following a complaint.

Cristosal, the regional human rights group, filed a complaint on September 10. This prompted the investigation. According to the Court of Accounts, it is possible for guilty officials of government to be subjected both to administrative and financial sanctions.

The investigation will look into purchases of ATMs (automated teller machines) and Chivo kiosk construction by President Bukele’s regime.

El Salvador became the first country to use Bitcoin as its legal tender recently. The implementation has been a challenge for the country, who had to face many hurdles in its first week.

Chivo, a digital wallet that can be linked to physical ATMs and allows users to withdraw hard money was able to help support countrywide rollout.

A likely audit appears to still be on the cards, however. This is despite protests in many parts of the country that began over the last few weeks.

Many protestors marched to oppose the Salvadoran regime’s sudden announcement that Bitcoin was legal tender. Demonstrations quickly turned violent, and BTC PEERS reported that protesters kicking against the recently implemented Bitcoin law had destroyed a crypto kiosk in the nation’s capital city of San Salvador.

If there are any irregularities in the transactions, the court could issue warnings or even initiate criminal proceedings. All government administrators will be monitored, especially those from the finance and economic ministries.

International observers believe that El Salvador’s democratic status is slipping under the increasingly powerful regime.

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