JPM with the note:
On June 8, El Salvador approved in congress a law that granted bitcoin status as legal tender, which will be implemented on September 7, assuming as we do the Supreme Court of Justice rejects challenges to constitutionality. We provided a first assessment on the matter after the approval, but as focus shifts to its implementation there are more questions on the challenges it poses. We explore some of the potential issues, even though we recognize that regulation is still forthcoming and many aspects likely are still being deliberated. Broadly speaking we focus on whether Bitcoin could become widely adopted in El Salvador, on what could follow in such scenario, and also touch upon, briefly, on some of the systemic risks that could arise, as highlighted by some involved parties.
Could Bitcoin become widely used?