According to statements in a debate, the presidential candidates of Costa Rica do not have any policy to encourage the use of Bitcoin in the nation.

Despite the physical proximity between El Salvador and Costa Rica, the latter country does not follow close signs following the path of the Central American country that became the first to activate a policy to convert Bitcoin into legal tender.

Two candidates are currently competing for the presidency of Costa Rica, and they are precisely two pro-investment and pro-business politicians. The current candidates are Rodrigo Chaves of the Social Democratic Progress party and José María Figueres of National Liberation.

Both candidates have familiar ties with the economic environment. Chaves worked at the World Bank for about 30 years, while Figueres, president during the 1990s, and Minister of Foreign Trade, is an industrial engineer who defends that he wishes to turn the country into a “business-friendly” land. With such a scenario, one might think there is some openness towards crypto, but there is no sign of interest.

A Big NO to Bitcoin

This week, in a discussion created by Grupo Extra, both coincided on one precious point: they will not encourage the use of Bitcoin in Costa Rica.

As reported by CRHoy, Figueres highlighted that Bitcoin is an exciting item but needs more research. He got concerned about opening the crypto market due to its volatility; he said this market put people’s capital at risk because they can see this asset as a financial tool to invest in their savings.

Meanwhile, Chaves expressed that Bitcoin only plays a role as a storing value. In this sense, he criticized El Salvador, saying it was a grave mistake because the payment recipient got exposed to monstrous fluctuations.

Until now, Costa Rica has been a nation where there is a lot of interest in the crypto world. However, there is still a lack of framework under legality to support these assets. Many popular exchanges are active and working, and some merchants receive crypto as a payment method. There are at least seven Bitcoin ATMs currently operating in the nation, according to the CoinATMRadar report.

The Central American nation is quite interesting in the crypto space within the region due to the openness of the government and the diverse sectors of the citizenry to implement these currencies within the economic and social structures.

This behavior intends to improve all the local procedures and open new doorways to new technologies because of what the future will bring in the years to come.

By: Jenson  Nuñez


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