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A comment on El Salvador abandons Bitcoin as legal tender after failed experiment. Parent comment

Re:El Salvador abandons Bitcoin as legal tender after failed... by do_not_redeem on Monday February 03, 2025 @07:58PM (#42925890)
El Salvador can't issue fiat. They use US dollars. Only the US Federal Reserve can issue USD.
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Re:El Salvador abandons Bitcoin as legal tender after failed... by kragen on Monday February 03, 2025 @09:50PM (#42927117)
They could. Ecuador does in fact mint its own US-dollar coins, and El Salvador could dedollarize.
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Re:El Salvador abandons Bitcoin as legal tender after failed... by favorited on Monday February 03, 2025 @10:31PM (#42927499)
Ecuador mints their own centavo coins, but they are not legal tender outside of Ecuador. They've never released their own $1 coin into general circulation – their ubiquitous Sacagawea dollars are minted in the US.
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Re:El Salvador abandons Bitcoin as legal tender after failed... by kragen on Monday February 03, 2025 @10:34PM (#42927528)
Sorry, I didn't mean to say they minted US$1 coins, just coins whose value is denominated in dollars. I think the biggest one is US$0.25?

US dollars are also not legal tender outside the US, with a few exceptions (I think including both El Salvador and Ecuador.)

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