On top of the mounting protests of Salvadorans against the Bitcoin Law, the government would face another big challenge as the country’s Court of Accounts is set to investigate the preparations made by the government for the new law.
Cristobal, a regional human rights and transparency organization, filed a complaint before the Court of Accounts regarding the implementation of the Bitcoin Law.
As a response, the court will look into details of the government’s 400 bitcoin purchase, the installment of bitcoin ATMs, and other matters related to the new law.
The Court of Accounts has the mandate to oversee the country’s public resources and has the authority to impose sanctions against government officials that are involved in anomalous transactions. The CA can also submit notices to the Attorney General’s Office, which would then make way for criminal proceedings.
Fresh complaint
“Having admitted the complaint, it will be proceeded to carry out the legal analysis report in a timely manner, and forward such report to the General Audit Coordination,” the Court of Accounts said.
The human rights and transparency organization has filed a complaint against six members of the Board of Directors of the Bitcoin Trust. The Finance ministries and the secretariat of Commerce and Investments are the members of this Trust.
Cristobal has also submitted a request to make an audit regarding the authorization processes that the Salvadoran government implemented in the purchase of 400 BTC. On top of that, the organization has also requested a review of the construction of bitcoin ATM kiosks.
Innovation or …?
The Central American country became the first nation in the world to make bitcoin as its legal tender, which had received mixed responses. Some have called it innovation, but others have criticized it as a major blunder. It is yet to be seen if the Bitcoin Law would indeed uplift El Salvador’s economy.
Image courtesy of Cointelegraph News/YouTube
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