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JPMorgan on El Salvador’s Bitcoin Move, Miners Win In New York + More News

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Source: Adobe/luzitanija

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  • The question remains whether the designation of bitcoin (BTC) as legal tender by El Salvador has mechanical implications for its treatment in larger economies under tax law, banking and financial regulations, and other areas, analysts at JPMorgan said in a note. According to them, any such change in treatment would arguably be an unintended consequence of laws and regulations that significantly predate, and understandably did not anticipate cryptocurrency, but those moves may be complicated if this is the beginning of a broader trend among similarly situated, smaller nations. (


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