CandleFocus El Salvador bitcoin remittances hit all-time low
2025-01-31
Author: Content Editor
El Salvador's cryptocurrency remittances have declined to new lows, accounting for less than 1% of total remittances. The peak period was when the law making bitcoin legal tender was passed in 2021. In December, the total amount of family remittances through cryptocurrency digital wallets was $7.22 million. Despite this decline, El Salvador remains attractive to crypto firms, with Tether and Bitfinex executives purchasing real estate and obtaining licenses in the country. The government has agreed to limit some BTC-related activities to secure loan extensions from the IMF.
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