The three major loan agencies criticize the Bitcoin introduction in El Salvador-S&P Global warns of immediate negative effects-

All "Big Three" credit agencies said that the introduction of Bitcoin in El Salvador could negatively influence the country's creditworthiness. After both Moody’s and Fitch Ratings published reports on this topic in El Salvador, S&P Global said that the introduction of Bitcoin had "had immediate negative effects on his creditworthiness".

S&P Global joins Fitch Ratings, Moody’s criticizes Salvadorian Bitcoin introduction

on August 17, 2021, Bitcoin.com News reported on Fitch ratings, in which it is described that EL Salvador Bitcoin introduces ( btc ) Currency can push the country towards "regulatory and operational risks".

In addition, Fitch said that the introduction of Bitcoin would have a negative impact on the insurance system in the Latin American country. The report by Fitch Ratings in August followed Moody’s downgrading in June after the "Big Three" credit agency downgraded the land from a B3 rating to CAA1 and highlighted a "deterioration in the quality of political design".

s & p global seems to be approved and on Friday, a test report from Reuters.com points out that the information e & p global "Immediate effects" notes after the state of Bitcoin has introduced ( btc ). One of the greatest risks is to get support, said S&P of programs such as the International Monetary Fund (IMF). In addition, the report states that S&P provides an "increase" [in] fiscal weaknesses. "

"The risks associated with the introduction of Bitcoin as a legal means of payment in El Salvador seem to outweigh the potential advantages," said S&P on Thursday. "There are immediate negative effects for [the] loan." Marc Jones von Thomson Reuters emphasizes that El Salvador currently has a B-rating, which means that it is stable.

The recent statements by S&P Global follow the recent actions in El Salvador. For example, demonstrators took to the streets on September 15 and hired a Bitcoin Automats (ATM). . In addition, a complaint called Cristal to the Salvadorian Court of Auditors, demands that the Salvadorian government be examined for the Bitcoin Automatic transactions and the construction of kiosks.

What do you think of the recent statements of S&P Global about the introduction of Bitcoin as a legal means of payment in El Salvador? Let us know your opinion on this topic in the comments below.

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