El Salvador cracks down on bitcoin speculation with changes to Chivo.

El Salvador cracks down on bitcoin speculation with changes to Chivo.
El Salvador’s bitcoin digital wallet, called Chivo, removed a pricing function that allowed users to make quick profits through transactions, as it intensifies efforts to crack down on speculation involving the largest cryptocurrency in the world.
Most Read from Bloomberg.
To stay up to date with latest top stories, make sure to subscribe to this YouTube channel by clicking the button above this video!
Last month, the Latin American nation became the first country in the world to officially adopt bitcoin, and the government’s Chivo wallet sparked a flurry of daily transactions as citizens bought when bitcoin fell in price and sold when it returned.
upload.
Last week, Chivo said it will remove a feature that freezes the price of bitcoin for a minute before confirming a transaction, giving users time to check prices in other cryptocurrency markets and decide whether to buy or sell, a phenomenon known as “scalping” or reselling.