The government of El Salvador will be investigated for its Bitcoin purchase and installation of Bitcoin ATMs by the Court of Accounts.
According to Reuters, the Court of Accounts, a government body empowered to impose administrative and asset sanctions against officials, has received a complaint from Cristosal, a human rights and transparency organization in El Salvador, to investigate President Nayib Bukele’s Bitcoin implementation in the country.
Based on the complaint filed against the government on Sept. 10, Cristosal is raising questions about how the public funds were used to purchase Bitcoin and the construction of crypto ATMs linked to the official digital wallet Chivo.
“Having admitted the complaint, it will be proceeded to carry out the legal analysis report and, in a timely manner, forward such report to the General Audit Coordination,” the Court of Accounts allegedly said.
In the last 24 hours, bitcoin is down by 0.00%, with a current price of $47,521.04 as at the time of writing this. Within 24 hours, bitcoin dropped to $47,047.98 low and $48,199.57 high. The trading volume of bitcoin in the last 24 hours is $852.30M. The current market capitalization of bitcoin is $894.24B. Currently, $18.81M bitcoins is in circulation.
Stats and Image from Coin Desk
El Salvador recently became the first nation to make Bitcoin a legal tender. However, the decision right from the preparation stage has been greeted with lots of opposition by world financial regulators and disgruntled country citizens.