Protesters, also known as the Popular Resistance and Rebellion Block spoke out against the government of El Salvador enacting a bill making Bitcoin legal tender and Bitcoin Law. They say that cryptocurrency is too volatile and cannot be used for business.
El Salvadorians, wave posters declaring "no to Bitcoin" on the streets of San Salvador, according to a Tuesday tweet from local news outlet El Mundo, calling for the country's Bitcoin law to be repealed. After first seeing the demonstrators separated by a razor-wire fence, legislative assembly members Anabel Belloso and Dina Argueta addressed them.
The group's major gripe with the Bitcoin legal framework appeared to be based on a perceived inequality in the government's use of the cryptocurrency when contrasted to the typical El Salvadorian. Protesters stated:
The law recognizing Bitcoin as legal currency in El Salvador was passed by the government and signed into law by Bukele in June, but it will not take effect until September 7. The rally was organized by the Popular Resistance and Rebellion Block, who demanded that the law be repealed.