An NGO anti-corruption organization wanted bank details on a $150 million trust fund that guarantees BTC convertibility to dollars.
The state development bank of El Salvador, BANDESAL, in charge of bitcoin trading, refused to provide information to ALAC El Salvador, a non-governmental anti-corruption bureau for operations with the first cryptocurrency. BANDESAL stated that no information related to the Bitcoin Trust (FIDEBITCOIN) can be shared by the trustee or its board of directors to protect the national interest.
The bank’s refusal did not suit the anti-corruption organization. In her opinion, BANDESAL is obliged to provide information about transactions with the Bitcoin support fund, since the cryptocurrency was bought with public money:
“Privacy limits the ability of citizens to access information about transactions conducted by BANDESAL with public funds.”
El Salvador’s last bitcoin acquisition took place in July. The President of the country, Nayib Bukele, announced that he spent about $1.5 million to purchase 80 BTC at an average price of $19,000. Thus, El Salvador has already made 11 purchases of the first cryptocurrency. There are currently 2,381 BTC on wallets in the Latin American country, bought at an average price of $43,000. The value of bitcoins in the treasury of El Salvador fell from $103.9 million to about $45 million in a year.
Back in July, the head of the international department of strategy for emerging markets at Morgan Stanley said that the fall of the crypto market led to the depreciation of El Salvador’s Eurobonds and offered to buy them.
Source: Bits
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