"Bitcoin Law Plunders People's Pockets!" Salvadoran Opposition Party Files Unconstitutional Lawsuit

Salvadoran President Nayib Bukele has made Bitcoin legal tender in the country, while the opposition is preparing to file a lawsuit on the grounds of unconstitutionality.

The Vice President of the Farabundo Martí National Liberation Front (FMLN) in El Salvador, Jaime Guevara, has filed a lawsuit challenging the constitutionality of the Bitcoin law, garnering support from many citizens opposed to Bukele's policies.

According to reports, one of the co-signers of the lawsuit proposal, Óscar Artero, stated that he believes the Bitcoin law lacks legitimacy and basis, and that Bukele did not consider the harmful effects the law may have on the country. He expressed, "The Bitcoin law is to plunder people's pockets, it is tax-free, and the government wants to force us to transact."

The Chamber of Commerce in El Salvador has also conducted a survey regarding the Bitcoin law. The survey results showed that 80% of Salvadorans do not agree to accept Bitcoin payments, as they find the Bitcoin law concerning. The main concern is that "plundering people's pockets" has been a longstanding worry for the people of the country and is a deeply rooted issue of corruption in El Salvador.

However, it is unlikely that the Supreme Court of El Salvador will revoke the Bitcoin law, as Bukele forcefully removed old judges in May 2020 and appointed the current new judges. Therefore, for the opposition party presenting the unconstitutional proposal, it is a test of whether these judges can operate independently.

According to a 2020 survey by The Economist, El Salvador is accelerating towards authoritarianism compared to other Latin American countries. Additionally, El Salvador ranked last in the Corruption Perceptions Index last year, and the United States has labeled five of Bukele's closest aides as corrupt.

Representative Jaime Guevara from El Salvador has filed a lawsuit today against the recently approved Bitcoin tender law. Guevara claims that the law is unconstitutional and brings about a series of changes that could cause trouble for the people of El Salvador. Some suspect that the Bukele regime supports the demands made by the representative due to the inability to apply this new law.