If I get a bank account in El Savador, can I simply deposit Bitcoin, getting it traded for dollars? They don't have their own currency. They use dollars as their sovereign currency. Doesn't that kind of turn them into a physical crypto exchange, in oh-so-many ways?
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That's a very interesting point.
Both BTC and USD are legal tender and there is automated government provided exchange from BTC to USD.
This may make El Salvador an excellent, secure (likely non or limited KYC) exchange between BTC and USD.