El Salvador’s watchdog will look into government purchases of bitcoin and ATMs

  • A regional human rights group said Thursday that El Salvador’s public management authority will look into a complaint about the government’s handling of bitcoin purchases and subsequent crypto ATMs
  • El Salvador made history this month when it declared bitcoin legal currency alongside the US dollar on September 7
  • Cristosal filed a complaint against six members of the Bitcóin Trust’s Board of Directors, including officials of the Finance and Economy Ministries, as well as the Commerce and Investments Secretariat

A regional human rights group said Thursday that El Salvador’s public management authority will look into a complaint about the government’s handling of bitcoin purchases and subsequent crypto ATMs. The Court of Accounts, a constitutionally required governmental entity in charge of technical and legal oversight of the country’s Public Treasury, received a complaint from the regional human rights and transparency organization Cristosal on September 10th, according to the organization. According to Reuters, Cristosal has sought an examination of the authorization procedure for the acquisition of bitcoin under its recently enacted statute. The watchdog has the authority to impose administrative and asset punishments, as well as to issue notices to the Attorney General’s Office requesting the initiation of criminal proceedings.

El Salvador made history this month when it declared bitcoin legal currency alongside the US dollar on September 7. Cristosal filed a lawsuit against six members of the Bitcoin Trust’s board of directors, which includes representatives from the Finance and Economic Ministries. After admitting the complaint, the legal analysis report will be completed and forwarded to the General Audit Coordination in a timely manner, the watchdog stated. Protests around the country’s capital, San Salvador, have been held in defiance of the country’s Bitcoin Law and President Nayib Bukele’s alleged corruption. Cristosal requested an examination of the authorization processes for bitcoin purchases, as well as a study of the booths used for ATMs linked to Chivo’s digital wallet, which was founded with public funds.

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Cristosal filed a complaint against six members of the Bitcóin Trust’s Board of Directors, including officials of the Finance and Economy Ministries, as well as the Commerce and Investments Secretariat. In an official document obtained by Reuters, the Court of Accounts stated, Having acknowledged the complaint, it will proceed to carry out the legal analysis report and, in a timely way, submit such report to the General Audit Coordination. The complaint has been accepted, according to a Cristosal officer who was not authorized to speak about the subject. In addition to penalizing officials, the Court of Accounts has the authority to issue notifications to the Attorney General’s Office, requesting that criminal proceedings be initiated if violations are discovered during their investigations. The government of President Bukele did not reply to a request for comment right away.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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