The World Bank has rejected a request from El Salvador to help with the implementation of Bitcoin as legal tender. The international lender cited concerns over transparency and the environmental impact of Bitcoin mining.
Earlier this month, the Central American country announced plans to become the first nation to formally adopt the digital currency. It aims to use Bitcoin as a parallel legal tender alongside the US dollar.
The World Bank’s decision could mean the country faces problems in hitting its deadline to ensure that Bitcoin is accepted nationwide in the next three months.