El Salvadorian government’s request of implementing Bitcoin as a legal tender in the country.
World Bank has cited bitcoin as possessing detrimental impacts to the environment.
The Central American government had earlier announced plans to become the first nation to become the first ever nation to formally adopt the digital currency, which it had aimed of use the crypto currency alongside US dollar.
This decision by the World Bank could stall the country’s target of ensuring Bitcoin in their nation by three months.
World Bank cited reasons like environmental impact and transparency issues for not giving approval to El Salvador’s request.