El Salvador’s development bank, BANDESAL, is the government’s controversial anti-corruption agency, according to a statement. Bitcoin (BTC) refused to disclose information about its purchases.
El Salvador Says It Cannot Publish Bitcoin Purchase Information Due to Privacy
El Salvador’s Anti-Corruption Legal Advice Center (ALAC), which provides legal aid to citizens to make their voices heard against corruption, released a document of the bank in a tweet late over the weekend. In the document, BANDESAL says he cannot disclose “confidential” information.
El pasado mes de septiembre @BANDESAL Denegó por segunda vez entregar información sobre la compra y venta de Bitcoin por parte del gobierno salvadoreño, alegando reserva y contrariando el principio de máxima publicidad y proporcionalidad. Más información: https://t.co/J2bYYYIgMC pic.twitter.com/IU1738TJ9J
— ALAC El Salvador (@ALAC_SV) October 31, 2022
BANDESAL is responsible for managing funds used by the Salvadoran government for Bitcoin projects. The small Central American country became the first in the world to accept cryptocurrency as a legal tender last year.
ALAC criticized BANDESAL for this move. “Privacy limits citizens’ ability to access and obtain information on publicly funded operations by BANDESAL,” ALAC said in a tweet.
Recently, El Salvador and the Swiss city of Lugano signed a cooperation agreement (MOU) aimed at increasing the use of Bitcoin in their own regions as well as in neighboring countries and states.
More than a year ago, El Salvador became the first country to accept Bitcoin as a legal tender. Lugano doesn’t have such power in Switzerland, but about seven months ago it launched a program called Plan B to get this city of 70,000 people to adopt BTC.
After El Salvador’s BTC move in September 2021, the country announced that it had purchased BTC many more times.
*Not investment advice.
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