Recent data from the Central Bank of El Salvador reveals a significant decline in cryptocurrency remittances, which dropped by 45% in the first four months of 2024 compared to the previous year.
The analysis indicates that the volume of cryptocurrency transactions originating from abroad constituted less than 1% of the total funds transferred by foreigners to their families and friends in El Salvador.
This ongoing trend highlights the challenges faced by cryptocurrency remittances in achieving broader acceptance and utilization within the country.
