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El Salvador’s move to classify bitcoin as legal currency has the potential to completely collapse its economy, Steve Hanke, professor of applied economics at Johns Hopkins University, said in a Kitco News interview on Tuesday. 

After describing President Nayib Bukele and members of government who voted to pass the bitcoin law as “stupid,” Hanke raised doubts about whether the cryptocurrency could work smoothly for everyday use in a country where most citizens don’t have bank accounts.

The economist, who served on former President Ronald Reagan’s council of economic advisers in the 1980s, suggested criminal details ⇒

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