A lawsuit has been filed against the recent Bitcoin legislation in El Salvador. The suit was led by the deputy of the opposition party and supported by few citizens of the Central American country. The move was taken by the group as they considered the legislation of Bitcoin as a legal tender not in line with the constitution of El Salvador.
Reports from Spain’s newspaper, El Mundo, suggests that Jaime Guevara, deputy of the Farabundo Marti National Liberation Front (FMNL) party has joined forces with other citizens in the country to counter-attack the Bitcoin legislation in court.
El Salvador operates a multi-party system and FMNL happens to be one of the two major parties in the country.
In the report by El Mundo, one of the complainant citizens, Oscar Artero claimed that the lawsuit was filed against the President’s endorsement of the Bitcoin legislation because it lacked a “legal basis”.
He also claimed the legislation lacked foundation and it was to extort people’s pockets as it didn’t consider the harmful effects it might have on the country’s economy;
“I bring a lawsuit of unconstitutionality against the decree issued by the Bitcoin Law for being a decree lacking legality, lacking foundation, without considering the significance and harmful effects that such a law will cause to this country. The Bitcoin Law is to loot people’s pockets, it is tax-exempt, they want to force us to trade ”.
He further stated that he hoped the Supreme Court would declare the law unconstitutional.
What do you think? Share your comments below
Top 4 Metaverse Projects below $5M Marketcap on Binance Smart Chain
As the Metaverse crypto world grows in popularity and influence, more and more platforms become available for their next generation...
Exploring Stablecoins, DeFi, NFT, GameFi, Metaverse and Fantokens
The cryptocurrency universe is as diverse as the real universe. Cryptocurrencies are not under a single umbrella, but a diverse...
Battle of the Guardians: The First Real Time Multiplayer NFT Game
2021 brought “The Metaverse” into limelight and ever since, a lot of Play-to-Earn NFT games have been occupying the space....
Understanding the Migration of Ethereum to Proof of Stake
How To Become A Validator For Eth 2.0 The Beacon Chain was the first step toward changing the consensus algorithm...
Polygon (MATIC) Integrates Ethereum’s EIP-1559 Upgrade
Layer-2 blockchain Polygon has launched an EIP 1559-like upgrade, which integrates a burning mechanism for MATIC. According to Polygon...