Many countries are having different attitudes or regulations towards the crypto-industry but not any of them is as friendly as El Salvador’s new initiative which made Bitcoin recognized as legal tender in the country. The congressional hearing was conducted on June 8 and President Nayib Bukele’s initiative was accepted by the 84 available votes.
The president, in his official statement, declared that the administration that is working under his supervision has created an important historical event which is first and foremost, most beneficial and efficient for the citizens of El Salvador who are working and living abroad and want to transfer money to their families. Through this initiative, the involvement of third parties, such as banks or financial authorities is not necessary, which also allows people not to waste their money on commission fees or transaction fees that usually take several days for the transfer to arrive on the other persons’ account.
There are several important legal steps to take before in almost 80 days BTC will join the US dollar as legal currency. The whole process is dedicated to making the payments for goods and services available for BTC transactions, but in the beginning, not all of them will be able to provide such service due to the lack of suitable technology or infrastructure. As we know, BTC mining or transactions involve strong hardware and software technology which is not as easy to make as the common norm.
Not only once did President Bukele have to state his opinion with proper arguments for his initiative and the main justification of his is that the financial innovation will bring inclusion, investment, and economic growth to the country. More than a half of the population will be able to engage in the final transactions without the need to go to the bank which also allows them to avoid the long bureaucratic procedures.
Why all those matters for El Salvador are the fact that the country is largely dependent on remittances or money transfers from abroad, accounting for 20% of the country’s GDP. more than two million Salvadoreans live abroad, however, they are still maintaining close ties with their family members who are staying in the country.
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It is no surprise that the new initiative caused a lot of discussions and while some of them are praising the new initiative, others are utterly sceptical. The new steps should be considered as a major step forward for the economic growth and development of the country, however, there is price volatility on the other side. Other than that the industry was accused several times of being used for fraudulent activities, as well as the money laundering and scams and its use in gambling, however, according to the BitcoinCasinosReviews, the main reason for its implementation in the entertainment industry is the quick and easy transaction process and anonymity.
The BTC’s reputation in terms of fluctuations and volatility, as well as the speculations on the market, might be the deterring factor for the IMF to give the country the $1 billion loan, for which El Salvador has already made a request. One of the main reasons why some people might be skeptical about the whole crypto-industry or BTC is that they think the main idea of its creation and use is to replace the USD, which is highly unlikely to happen in the near future.
It is also true that the bitcoin price fluctuations themselves give the reasons for sceptical thinking as the price of the coin has dramatically increased over the past year. If in the last September price was fluctuating around 10,000 USD the same coin’s price in March reached its historical maximum, 64,000 USD, for which the main reason is that the whole industry is not regulated by any authorities. This is why a lot of banks in the whole world are trying to develop their own digital currencies which will take the plus sides of the current cryptocurrencies and will make their flaws more developed.
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The response from the World Bank
The World Bank did not support El Salvador’s request to assist the country with the adoption of BTC as a legal tender. The world bank, which is an international lender, made the official statement about its own decision, stating that the main reasons for its refusal are the environmental problems that are caused by the BTC mining process and the lack of transparency of the whole transaction process.
Unlike the World Bank, the Central American government is working to adopt the new initiative and become the first authority in the world to legally accept virtual currencies. Not only is the initiative working to make the BTC a legal tender but to make it an alternative to the US currency and promote its widespread use. The advantage of virtual currencies over fiat currencies is vivid and the simplification of the transaction process is one of the biggest aims for now.
In order for El Salvador to make the currency the legal tender in the country needs several verifications and the World Bank’s position might deter this process and even the time frame, which the government stated would need to make things work. The officials from the World Bank are not supporting El Salvador with the loan, but they will be dedicated to assisting in a variety of ways, including currency transparency and regulatory process. The whole initiative will receive congressional approval within 90 days, and according to the new rule, all businesses will have to accept bitcoin as a payment method unless it has the necessary technology and infrastructure.
Summing It Up
Finally, to sum up, not everyone even a year ago would imagine that the whole crypto-industry would cause such a boom. The scepticism towards it still stays in its place, however, the whole pandemic and the wide acceptance of BTC in many companies, had a domino effect. People started thinking about the cryptos as a way to generate some financial profit, which was even more important during the pandemic since it resulted in the economic crisis.
More and more countries are starting to accept BTC as a payment method in a variety of their services, for example, the US, Japan, Switzerland, or Germany, however, El Salvador’s initiative was the first one of this importance. When we are talking about its advantages, we should also remember that the concerns that the whole industry is causing are serious and it needs to be fixed.
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Heather Pressdee, the Pennsylvania nurse connected to the deaths of 17 patients will be spending the rest of her life in prison. The 41 year old nurse had pleaded guilty for three counts of 1st-degree murder and other charges and this helped her avoid the death sentence.
Heather Pressdee while working as a nurse had administered lethal doses of insulin leading to the death of 17 patients had pleaded guilty in a Butler County courtroom to three counts of first-degree murder and 19 counts of criminal attempt to commit murder. Heather Pressdee was working as a nurse at Quality Life Services before her arrest in May 2023.
Investigations revealed that Pressdee’s killing spree began in 2020 when she started administering “lethal and potentially lethal doses of insulin” to at least 22 patients at facilities in Allegheny, Armstrong, Butler and Westmoreland counties. Of these 17 patients died soon or after some time after receiving the insulin doses according to prosecution.
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Heather Pressdee will be serving three consecutive life sentences after pleading to the three counts of first-degree murder. She is also sentenced an additional 380 to 760 years of consecutive jail terms after being found guilty for 19 counts of criminal attempt to commit murder, according to prosecutors.
Attorney General Michelle Henry said, “The defendant used her position of trust as a means to poison patients who depended on her for care. This plea and life sentence will not bring back the lives lost, but it will ensure Heather Pressdee never has another opportunity to inflict further harm. I offer my sincere sympathy to all who have suffered at this defendant’s hands.”
Kings of Pressdee’s victims who were present at the nurse’s sentencing hearing recounted the “pain and anguish caused by learning their loved one’s death was not natural, but was caused by a criminal act,”
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Sister of one of the victims, Nicholas Cymbol, Melinda Brown said that the nurse was pure evil. She added that this is not complete justice and justice will be delivered when she meets her maker. Daughter of another victim Irene Simons said that she will never forgive Pressdee. She added that she is angry because Pressdee disguised herself as a caring nurse and she tried to play God and take the life of someone from the world that she had no right to take.
Attorney General Michelle Henry first became aware of Pressdee’s crimes when her office received a referral in late 2022 regarding a patient under the nurse’s care. A thorough investigation was launched which revealed the full extent of Pressdee’s horrific actions.
A man living in the city of Brunswick on Georgia’s southeast coast is devastated after his pet alligator was stolen from his home on April 21, 2024. In an emotional video which was posted on TikTok the man who was crying said that he is the dad of Wallygator (the name of the pet alligator) and appealed to the public for help to bring his pet back home.
It has been almost 11 days since Wally the pet support alligator was reportedly kidnapped and stolen in Georgia. The Walygator disappeared from his home on April 21 when his handler Joie Henney was visiting friends.
The owner of the alligator in a video posted on TikTok through tears said, “I’m Wallygator’s dad. We need all the help we can get to bring my baby back. Please, we need your help.”
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The owner is also offering a reward for the safe return of his pet and said that no questions will be asked.
The owner Joie Henney has two alligators as pets and lives in Strinestown. The alligator, which is said to be a 4-foot-long, nearly 60-pound, emotional support alligator lives in SpiriTrust Lutheran Village at Sprenkle Drive and a number of people come to have a glimpse of the reptile.
Henney also revealed that he is putting through a search party for Wally after a Georgia Department of Natural Resources official contacted him and informed him of the theft of his pet by someone who stole Wally with the intent of dropping him off in a resident’s yard “to terrorize them.” The residents called the authorities and the services of a trapper were called for who caught and released the reptile into a swamp. Henney posted on Facebook that Wally is unlikely to survive in the wild on his own.
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Who is Wallygator?
Wallygator is an eight year old emotional support animal and provided solace and comfort to people at nursing homes and baseball games. He was adopted by Henney when he was 1 year old in 2019. Henney revealed that the alligator was very docile and loved to be hugged and kissed by people. He was also fond of going for walks. The pet alligator also was very fond of adventures which included leashed park visits and supervised swimming stints. His frolics were often posted on social media where Wally has tens of thousands of followers.
The search for the missing alligator has also received support from the Gator boys who have joined efforts with other agencies that specialize in rescuing alligators.
Annelise Orleck, a professor of Dartmouth College, is all over the internet. She is the head of Jewish Studies at the institution.
Annelise Orleck was arrested on Wednesday night during a pro-Palestinian protest on campus. Along with her, dozens of other professors were also arrested. Allegedly, they all showed up to support students.
Recalling the incident, the 65-year-old stated that when police moved into the college on Wednesday night to arrest them, Dartmouth Green was unrecognizable.
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Annelise said that when she was trying to protect students, her phone was snatched from her and she was knocked down.
Annelise Orleck added that, in her entire career of being a professor at the college for decades, she had never witnessed anything like that.
The ADL is praising Dartmouth’s response to anti-war protests after the police called in to remove protesters brutally knocked down and arrested 65 year old Professor Annelise Orleck, who is head of Jewish Studies and now banned from campus for six monthspic.twitter.com/ElGse9bEUjhttps://t.co/wXI64HXhRv— Dylan Williams (@dylanotes) May 2, 2024
A video of this incident has gone viral all over social media platforms in which police officers can be spotted pushing her against the ground, and then they detain her.
“I was mad because they had taken my phone, and I was mad because they just body-slammed me, and it hurt. And so, I went and said, ‘Give me back my phone’. I’m trying to get my phone back. I did. And, at that moment, three police lifted me up in the air, slammed me down onto the ground. I mean, I threw myself down onto the ground on my bad shoulder. And they said I was resisting arrest.”
The video of the 65-year-old that went viral was captured at the protest by news channels.
She added,
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“And it’s really shameful in a sleepy little campus, in a rural area like Dartmouth, that they brought in this ridiculous show of arms and strength and violence.”
Who is Annelise Orleck?
As per womenalsoknowhistory.com, Annelise Orleck was born and brought up in Brooklyn. Currently, she resides with the journalist Alexis Jetter, her partner in Thetford Center, Vermont.
At the college, the 65-year-old teaches Jewish Studies, Women’s Gender and Sexuality Studies, and History.
Moreover, she has been serving at Dartmouth for more than thirty years now. However, her bail condition states that she is banned from entering Dartmouth’s campus.
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Annelise Orleck stated she sent some emails to the institution, but was left unanswered. She said that being a Jewish woman, she was quite worried about her safety, especially after Wednesday night’s police response.
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