United States Treasury Secretary Scott Bessent and Salvadoran President Nayib Bukele recently held a high-level meeting this weekend to discuss El Salvador’s economic transformation and its cryptocurrency strategy.
The bilateral talks took place on the sidelines of the “Shield of the Americas” summit in Miami, Florida
Following the meeting, Treasury Secretary Bessent took to the X platform to praise the Salvadoran leader’s economic vision. “I was glad to hear more about President Bukele’s pro-market reforms for El Salvador and his efforts to make El Salvador a digital assets hub. We will continue to work together to advance strategies to strengthen our hemisphere,” he said.
Before the current administration, interactions between U.S. government officials, international financial institutions, and Bukele regarding Bitcoin were notoriously frosty
HOT Stories
Bessent Meets Bukele to Talk Crypto
Crypto Market Review: Ethereum (ETH) Hits First Bullish Setup in 2026, Bitcoin Must Get Comfortable in $70,000s, Was Shiba Inu (SHIB) Price Neutralized?
After El Salvador decided to make Bitcoin legal tender in 2021, the U.S.-dominated International Monetary Fund (IMF), rating agencies, and the US administration issued repeated warnings. U.S. lawmakers even introduced legislation to mitigate potential risks to the American financial system
Now, however, the aggressively pro-crypto stance of the current administration is extending into its foreign policy
A failed policy?
In early 2025, the Bukele administration quietly agreed to a major concession: El Salvador amended its historic Bitcoin Law. It was facing mounting debt, which is why there was a desperate need for a $1.4 billion IMF loan
This came after domestic crypto adoption also failed to pick up steam. According to a 2024–2025 survey conducted by the Public Opinion Institute of the Jesuit Central American University, only “8 out of every 100 Salvadorans” reported actively using Bitcoin.
The government formally removed Bitcoin’s mandatory “legal tender” status. It also agreed to limit the public sector’s direct engagement in crypto-related activities
That said, the Salvadoran government continued its Bitcoin purchases
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Crude Oil Prices Surge on U.S. Seizure of Iranian Vessel: Brent Up 5%, WTI Up 6%
Crude oil prices surged on April 19 after U.S. forces seized an Iranian-flagged vessel in the Gulf of Oman, raising supply disruption fears. Iran threatened to restrict access through the Strait of Hormuz, amid escalating tensions and potential impacts on global inflation and markets.
GateNews4m ago
Tensions around the Strait of Hormuz have been fluctuating, and Bitcoin falls below $74,000
The Strait of Hormuz blockade triggers a major shock in the crypto market: after Bitcoin first breaks above $78,000, it then falls back to $74,000, and the market remains in panic. This article provides an in-depth analysis of the transmission mechanism between geopolitical shocks and crypto market price action.
GateInstantTrends1h ago
Hong Kong SFC Approves New Framework for Trading Tokenized Investment Products
Hong Kong's SFC introduced a regulatory framework for trading tokenized investment products, enabling secondary market trading on licensed virtual asset platforms and enhancing access for retail investors.
GateNews1h ago
Central Bankers Warn Stablecoins Risk Accelerating Dollarization in Emerging Markets
Central bankers warn that stablecoins may accelerate dollarization in emerging markets and pose financial crime risks due to weak regulatory oversight. They urge for international coordination on stablecoin standards to balance innovation with financial stability.
GateNews1h ago
Japan Issues 3-Meter Tsunami Warning for Aomori Prefecture Following Earthquake
Aomori Prefecture in Japan issued a tsunami warning following an earthquake, impacting Tohoku Shinkansen train services. Tsunami warnings and advisories were also given for other coastal areas, while checks were initiated at Onagawa Nuclear Power Station.
GateNews1h ago
Iran Reiterates It Is Not War Aggressor, Vows Strong Response to Any New U.S. or Israeli Action
Iran's Foreign Ministry spokesperson Baghaei affirmed that the country won't accept ultimatums in defending its sovereignty, insisting that military actions are for self-defense and warning of a strong response to any new aggression from the U.S. or Israel.
GateNews2h ago
