FT News Briefing Why developing countries are so keen on cryptocurrencies
Sep 7, 2021
The discussion dives into how developing countries are embracing cryptocurrencies, highlighted by El Salvador's bold move to make Bitcoin legal tender. This trend stems from the need for stable transaction methods and greater financial inclusion. There's a historical context of innovation in emerging markets that supports this momentum. Additionally, the podcast touches on the box office success of 'Shang-Chi', showcasing the film's impact on Disney's recovery during the pandemic.
AI Snips
Chapters
Transcript
Episode notes
UK Tax Rise for NHS and Social Care
- UK Prime Minister Boris Johnson will announce a tax rise exceeding £10 billion to support the NHS and social care.
- This tax rise breaks a 2019 Conservative promise, causing dissent within the party.
Guinea Coup and Mining Industry
- Guinea's coup leaders urge mining companies to continue operations, highlighting the industry's economic importance.
- Despite its significance for exports, mining has been linked to corruption and hasn't greatly benefited Guinea's people.
El Salvador Adopts Bitcoin
- El Salvador will become the first country to adopt Bitcoin as legal tender.
- Supporters say it will reduce remittance fees, while critics fear price volatility and money laundering.