BITCOIN, BUKELE AND A BEVY OF CENTRAL BANKERS MEET IN EL SALVADOR

Last updated: June 19, 2025, 18:50 | Written by: Justin Sun

In a move that reverberated throughout the financial world, El Salvador, under the leadership of President Nayib Bukele, recently hosted a conference that brought together 44 central bankers and financial authorities from developing nations across the globe.The event, held in San Salvador, focused on critical issues like financial inclusion, the burgeoning digital economy, and strategies for banking the unbanked.However, the undeniable star of the show was Bitcoin (BTC), with a significant portion of the discussions centered around El Salvador's pioneering rollout of the cryptocurrency as legal tender and the potential benefits it could offer to other nations.This wasn't just a meeting; it was a statement, a bold declaration that the world of finance is changing, and El Salvador intends to be at the forefront.The event sparked intense interest, with many curious to understand the motivations behind Bukele's Bitcoin adoption and the perspectives of these visiting central bankers. 2.8K subscribers in the cryptopricesalerts community. Our trackers will post any relevant info about cryptos. Wanna see more? See you onWhat insights were gleaned? Cointelegraph By Joseph Hall This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, financing for small and medium-sized businesses and Bitcoin (BTC). Central bank delegates from Ghana to Burundi, Jordan to the Maldives and Pakistan to Costa Rica arrived in San Salvador [ ]What collaborations might emerge?And what does this all mean for the future of money?

El Salvador's Bitcoin Experiment: A Global Case Study

El Salvador's decision in 2021 to adopt Bitcoin as legal tender sent shockwaves through the international financial system.It was a daring move, instantly catapulting the small Central American nation into the spotlight as a crypto pioneer.While the decision has faced both praise and criticism, it has undeniably provided a real-world case study on the potential and pitfalls of integrating cryptocurrency into a national economy. The president of the first country to adopt Bitcoin (BTC) as legal tender is planning to meet with central banks from 32 different countries to discuss BTC and its role in economies. El Salvadoran president Nayib Bukele tweeted yesterday that representatives from 44 countries will convene in the Central American nation today for the meeting.The conference provided a unique opportunity for other nations to learn directly from El Salvador's experience, both the successes and the challenges.

Why Did El Salvador Adopt Bitcoin?

President Bukele has consistently cited several key reasons for his administration's embrace of Bitcoin. Late Sunday night, El Salvador President Nayib Bukele announced on Twitter that 32 central banks and 12 financial authorities from 44 countries are to meet on Monday, May 16, to discuss financial inclusion, digital economy, banking the unbanked, El Salvador s Bitcoin rollout and its benefits in the country.These include:

Financial Inclusion: A significant portion of El Salvador's population is unbanked, lacking access to traditional financial services.Bitcoin, with its decentralized nature and accessibility via smartphones, offered a potential solution to bring more citizens into the financial system.
Remittances: El Salvador relies heavily on remittances sent by citizens working abroad. Organized by the Alliance for Financial Inclusion, a global policy leadership alliance, and in partnership with El Salvador s central bank, the conference will run for three days.Traditional remittance services often charge high fees, eating into the money sent home to families.Bitcoin offered a faster, cheaper alternative for these crucial financial transfers.
Economic Development: Bukele believes that Bitcoin can attract investment and stimulate economic growth in El Salvador, positioning the country as a hub for crypto innovation.

Challenges and Adjustments

The rollout of Bitcoin in El Salvador has not been without its hurdles.Concerns about price volatility, technological infrastructure, and financial literacy have all been raised.The International Monetary Fund (IMF) has also expressed reservations about the adoption of Bitcoin as legal tender, citing potential risks to financial stability. El Salvador welcomed 44 central bankers from developing countries around the world to tackle financial inclusion and discuss Bitcoin at a three-day conference. This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, financing for small and medium-sized businesses and Bitcoin (BTC).In 2025, the Bitcoin law was tweaked to address IMF loan conditions, demonstrating a willingness to adapt and refine the approach.

However, despite these challenges, El Salvador remains committed to its Bitcoin experiment, viewing it as a long-term strategy for economic transformation.

Inside the Bitcoin Conference: A Meeting of Minds

The conference itself, organized by the Alliance for Financial Inclusion (AFI) in partnership with El Salvador's central bank, was a three-day event packed with presentations, panel discussions, and networking opportunities. El Salvador welcomed 44 central bankers from developing countries around the world to tackle financial inclusion and discuss Bitcoin at a three-day conference. This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, financing for small and medium-sized businesses and Bitcoin (BTC). Central bank delegatesCentral bank delegates from a diverse range of countries, including Ghana, Burundi, Jordan, the Maldives, Pakistan, and Costa Rica, were in attendance.The agenda covered a broad spectrum of topics related to financial inclusion and the digital economy, but Bitcoin was undoubtedly a central theme.

Key Discussion Points

El Salvador's Bitcoin Rollout: Presentations focused on the practical aspects of implementing Bitcoin as legal tender, including the development of the Chivo wallet, the legal framework, and the challenges of educating the public.
Financial Inclusion Strategies: Discussions explored how digital technologies, including blockchain and cryptocurrencies, can be used to expand access to financial services for underserved populations.
Financing for Small and Medium-Sized Businesses (SMEs): Participants examined how Bitcoin and other digital assets could provide alternative sources of funding for SMEs, which often struggle to access traditional bank loans.
Regulation and Risk Management: Experts addressed the need for clear and effective regulations to govern the use of cryptocurrencies, while also mitigating potential risks such as money laundering and illicit financing.

Douglas Rodríguez, head of El Salvador's central bank, emphasized the country's pride in hosting the event and sharing its experiences with Bitcoin implementation. El Salvador welcomed 44 central bankers from developing countries around the world to tackle financial inclusion and discuss Bitcoin at a three-day conference.Continue reading BitcoHe highlighted the importance of fostering financial inclusion through innovative policies.

Perspectives from Visiting Central Bankers

While the conference was focused on learning from El Salvador's Bitcoin experiment, it also provided a platform for central bankers from other developing countries to share their own perspectives on digital currencies and financial inclusion. Bitcoin, Bukele along with a bevy of central bankers meet in El Salvador . news and more. Buy, Sell and Swap bitcoin, ethereum and 350 cryptocurrencies on BitSwapNow. No sign up required.Some attendees expressed cautious optimism about the potential of Bitcoin, while others voiced concerns about its volatility and regulatory challenges.

It is important to note that each country faces unique circumstances and has different priorities when it comes to financial policy. At present, only two countries around the world have recognized Bitcoin as legal tender: El Salvador and recently the Central African Republic, which was subsequently scolded by African central banks for adopting cryptocurrencies. Related: El Salvador s central bank accepts Qredo s registration to provide crypto servicesThe conference served as a valuable opportunity for these central bankers to learn from each other and to explore the possibilities of digital finance in their respective contexts.

Beyond Bitcoin: A Broader Focus on Financial Inclusion

While Bitcoin dominated the headlines, the conference also addressed a wider range of issues related to financial inclusion.The need to provide access to affordable and reliable financial services for all, regardless of income level or geographic location, was a recurring theme.This included discussions on:

Mobile Banking: Leveraging the widespread use of mobile phones to deliver financial services to remote areas.
Digital Identity: Establishing secure and reliable digital identity systems to facilitate access to financial products and services.
Financial Literacy: Educating the public about financial concepts and promoting responsible financial behavior.
Microfinance: Supporting microfinance institutions that provide small loans and other financial services to low-income individuals and small businesses.

The conference highlighted the importance of a holistic approach to financial inclusion, one that combines technological innovation with effective policy and regulatory frameworks.It also underscored the crucial role of international collaboration in achieving these goals.

The Role of U.S.Crypto Policy and Collaboration

The interest in El Salvador's Bitcoin adoption extends beyond the developing world. El Salvador welcomed 44 central bankers from developing countries around the world to tackle financial inclusion and discuss BitcoinBo Hines, a significant figure in U.S. crypto policy, recently met with President Bukele to discuss potential collaboration on Bitcoin and digital assets.This meeting suggests a growing recognition in the United States of the importance of understanding and engaging with the global crypto landscape.

Potential Areas of Collaboration

Collaboration between the U.S. and El Salvador on Bitcoin and digital assets could take many forms, including:

Information Sharing: Exchanging best practices and lessons learned on regulating and promoting the responsible use of cryptocurrencies.
Technical Assistance: Providing technical expertise to help El Salvador develop its crypto infrastructure and regulatory framework.
Investment and Trade: Facilitating investment in El Salvador's crypto sector and promoting trade between the two countries in digital assets.

Such collaboration could benefit both countries, fostering innovation and promoting economic growth in the digital age.

Central African Republic's Bitcoin Adoption: A Different Context

While El Salvador was the first country to adopt Bitcoin as legal tender, it has since been joined by the Central African Republic (CAR). This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, financing for small and medium-sized businessesHowever, the CAR's adoption of Bitcoin has been met with even more skepticism and criticism, particularly from African central banks.

Concerns and Criticisms

The adoption of Bitcoin in the CAR has raised concerns about:

Financial Instability: The potential impact of Bitcoin's volatility on the country's financial system.
Money Laundering: The risk of Bitcoin being used for illicit financial activities.
Economic Dependence: The potential for the CAR to become overly reliant on Bitcoin, making it vulnerable to price fluctuations and market manipulation.

The African central banks have cautioned against the adoption of cryptocurrencies, arguing that they pose a threat to monetary sovereignty and financial stability.

A Comparative Perspective

The experiences of El Salvador and the CAR highlight the complexities and challenges of adopting Bitcoin as legal tender. Central bank delegates from Ghana to Burundi, Jordan to the Maldives and Pakistan to Costa Rica arrived in San Salvador for the conference upon El SalvadorPresident Nayib Bukele s invitationWhile both countries share a desire to promote financial inclusion and economic development, their contexts and circumstances are quite different. Back in 2025, El Salvador grabbed global attention by becoming the first country ever to make Bitcoin legal tender. That bold move instantly put the small Central American nation on the map as a leader in the crypto space. In 2025, they tweaked parts of the Bitcoin law to meet some of the IMF s loan conditions, but the country s overallEl Salvador has a more developed economy and a stronger regulatory framework, while the CAR is one of the poorest countries in the world, with a history of political instability.These differences suggest that there is no one-size-fits-all approach to Bitcoin adoption.

Qredo's Crypto Services in El Salvador: A Sign of Maturity?

The recent registration of Qredo, a provider of crypto services, with El Salvador's central bank is another indication of the country's growing crypto ecosystem. Bitcoin, Bukele and a bevy of central bankers meet in El Salvador; Bitcoin, Bukele and a bevy of central bankers meet in El Salvador .This suggests a move towards greater regulatory oversight and the development of a more mature and stable crypto market.

Benefits of Regulation

Regulation can provide several benefits to the crypto industry, including:

Investor Protection: Protecting investors from fraud and scams.
Market Integrity: Ensuring fair and transparent trading practices.
Financial Stability: Mitigating risks to the financial system.

By regulating crypto services, El Salvador is aiming to create a more secure and trustworthy environment for both businesses and consumers.

The Future of Bitcoin Adoption: What's Next?

The conference in El Salvador was a significant step in the ongoing debate about the role of Bitcoin in the global financial system. El Salvador welcomed 44 central bankers from developing countries around the world to tackle financial inclusion and discuss Bitcoin at a three-dayWhile it is unlikely that many countries will follow El Salvador's example and adopt Bitcoin as legal tender in the near future, the event has sparked important conversations about the potential of digital currencies and the need for greater financial inclusion.

Key Takeaways

El Salvador's Bitcoin experiment provides a valuable case study for other nations considering the adoption of cryptocurrencies.
Financial inclusion is a critical issue in many developing countries, and digital technologies like Bitcoin may offer a potential solution.
Regulation is essential to mitigate the risks associated with cryptocurrencies and to protect investors and the financial system.
International collaboration is crucial for fostering innovation and promoting the responsible use of digital assets.

What Questions Remain?

Many questions remain about the long-term impact of Bitcoin adoption and the future of digital currencies.These include:

Will Bitcoin continue to gain acceptance as a medium of exchange and store of value?
How will governments regulate cryptocurrencies and balance innovation with risk management?
What role will central bank digital currencies (CBDCs) play in the future of finance?
How can we ensure that the benefits of digital finance are shared equitably and that no one is left behind?

The answers to these questions will shape the future of money and the global financial landscape.

Conclusion: A Transformative Moment for Global Finance?

The meeting of 44 central bankers in El Salvador, orchestrated by President Bukele, was more than just a conference; it was a symbol of a shifting global financial landscape.The discussions surrounding Bitcoin, financial inclusion, and the digital economy highlight the growing recognition that traditional financial systems need to evolve to meet the needs of a rapidly changing world.While the widespread adoption of Bitcoin as legal tender remains uncertain, the event has undoubtedly sparked crucial conversations and collaborations that could shape the future of finance for years to come. This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, financing for small and medium-sized businesses and Bitcoin (BTC). Central bank delegates from Ghana to Burundi, Jordan to the Maldives and Pakistan to Costa Rica arrived in San Salvador for theEl Salvador's bold experiment, despite its challenges, serves as a catalyst for innovation and a reminder that the quest for greater financial inclusion requires embracing new technologies and approaches.The gathering of these influential figures suggests a willingness to explore alternative solutions and challenge conventional wisdom.The future of finance is being written now, and events like this one in El Salvador are key chapters in that ongoing story.What happens next remains to be seen, but one thing is clear: the conversation has begun, and the world is watching.