El Salvador’s credit rating could take a hit amid Bitcoin adoption, warns S&P Global By Cointelegraph
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El Salvador’s credit rating could take a hit amid Bitcoin adoption, warns S&P GlobalCredit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Law recognizing Bitcoin (BTC) as legal tender nationwide on Sept. 7.
According to a report from Reuters Thursday, El Salvador’s Bitcoin embrace exposes its economy to significant financial risks and could pose challenges for the country’s lending industry.
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