In spite of the continuous efforts by the government of El Salvador to promote widespread cryptocurrency adoption within the nation, a recent CoinGecko report highlights the limited number of crypto owners in the country.
Published on December 7, the report reiterates that El Salvador stands alone as the only country in the world actively using crypto as legal tender. However, a relatively small percentage of its population currently hold Bitcoin (BTC):
“Despite these progressive measures, Bitcoin adoption in El Salvador remains relatively low.”
According to data from Triple A, approximately 109,175 people own Bitcoin in El Salvador’s population which consists of 6.36 million. This represents approximately 1.72%.
Additionally, El Salvador has been ranked 55th on the global crypto adoption index. However, several nations, including those that have imposed bans on crypto, are experiencing a faster growth rate.
Despite the ban on crypto in China, a higher percentage of its citizens reportedly own digital assets.
“An estimated 4.08% of the total population in China (or 58 million people) currently owns cryptocurrency,” the report stated.
This follows Salvadoran President Nayib Bukele’s announcement that the country’s combined Bitcoin investments have reached $131 million. As of December 4, this translated to a net profit of $3.6 million, resulting in a total gain of 2.84%.
El Salvador’s #Bitcoin investments are in the black!
After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin’s market price at the time…
Meanwhile, the government of El Salvador has been bolstering its efforts to increase crypto investment within the nation.
On December 8, it was reported that that the country has initiated a fresh citizenship-by-investment initiative, providing a residency visa and a route to citizenship for individuals prepared to invest $1 million in Bitcoin or Tether within the nation.
Labour MP Tulip Siddiq has called her anti-corruption trial a “farce” which is “driven by a clear political agenda” as proceedings began on Wednesday in Bangladesh.
In a statement seen by Sky News, Ms Siddiq has said the case was “built on fabricated accusations”.
Ms Siddiq was formerly the UK government’s anti-corruption minister but stood down over accusations she illegally received a plot of land in a new high-end development on the outskirts of Dhaka, Bangladesh’s capital.
This came after her aunt, Sheikh Hasina, was ousted as prime minister last year and replaced by the current government.
Hundreds of protesters were killed during the uprising and Ms Hasina now faces charges including crimes against humanity.
Ms Siddiq previously denied all the allegations against her through lawyers, saying the prosecution is politically motivated.
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Bangladesh’s Anti-Corruption Commission (ACC) claims the Labour MP received a 7,200-square-foot plot in a diplomatic zone through “abuse of power and influence”.
The trial in Dhaka began in the early hours of UK time, with Ms Siddiq on trial alongside her mother and siblings. The family are being tried in absentia as they have not returned to Bangladesh for the proceedings.
The court opened with ACC prosecutors laying out the case against Ms Siddiq.
Image: Bangladeshi prosecutors at court for the Tulip Siddiq case. Pic: AP
In her statement, Ms Siddiq said: “The so-called trial now under way in Dhaka is nothing more than a farce, built on fabricated accusations and driven by a clear political vendetta.
“Over the past year, the allegations against me have repeatedly shifted, yet I have never been contacted by the Bangladeshi authorities once. I have never received a court summons, no official communication, and no evidence.
“If this were a genuine legal process, the authorities would have engaged with me or my legal team, responded to our formal correspondence, and presented the evidence they claim to hold.
“Instead, they have peddled false and vexatious allegations that have been briefed to the media but never formally put to me by investigators.
“Even my offer to meet Bangladesh’s chief adviser Muhammad Yunus during his recent visit to London was refused. Such conduct is wholly incompatible with the principles of a fair trial that we uphold in the UK.
“I have been clear from the outset that I have done nothing wrong and will respond to any credible evidence that is presented to me. Continuing to smear my name to score political points is both baseless and damaging.”
Sky News has contacted the Bangladesh authorities for a response.
Image: Siddiq, left, Hasina and Vladimir Putin in 2013. Pic: AP
A separate anti-corruption allegation into Ms Siddiq’s family has also been launched, with allegations they were involved in brokering a 2013 deal with Russia for a nuclear power plant in Bangladesh, in which large sums of money were said to have been embezzled.
Ms Siddiq’s aunt, Ms Hasina, was ousted last year following student protests, having been in power for more than a decade. She has since fled to India.
Hundreds of protesters were killed during the uprising and Ms Hasina now faces charges including crimes against humanity.
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Nobel Peace Prize laureate Muhammad Yunus took over as interim leader and vowed to prosecute Ms Hasina.
Allegations have also been made about Ms Siddiq and a house she rents in North London, which is owned by a businessman reportedly linked to Ms Hasina’s Awami League Party.
Former minister Tulip Siddiq has found herself in the spotlight again as she faces a corruption trial in Bangladesh.
The former anti-corruption minister’s trial is expected to begin on Wednesday, but she will not be there.
A wider trial began on Monday after 27 people were indicted last week by Bangladeshi courts. They include Ms Siddiq, her aunt, other family members, and current and former officials.
Ms Siddiq resigned from her Treasury job in the UK on 14 January after facing calls to step down over links to her aunt, the ousted former Bangladesh prime minister, Sheikh Hasina, who is being investigated by Bangladesh’s anti-corruption commission.
Sir Keir Starmer’s ethics watchdog found the MP, who was born in London, had not breached the ministerial code, but told the PM: “You will want to consider her ongoing responsibilities.”
The 42-year-old MP for Hampstead and Highgate insists she has done nothing wrong and denies all the claims.
Sky News takes a look at the allegation behind the court case.
What is the allegation against Tulip Siddiq?
The current trial relates to just one of those claims – that she illegally allocated 7,200 sq ft of land to her family.
However, Ms Siddiq said she has not been informed of the specific charges she is facing or received a summons to appear.
An arrest warrant for Ms Siddiq was issued by Bangladesh in April, with the MP saying she only became aware of it when it was reported in the media.
Bangladesh’s anti-corruption commission alleges Ms Siddiq was involved in the illegal allocation of plots of land in the diplomatic zone of a luxury development in Purbachal near Dhaka to her mother, sister and brother.
Image: Tulip Siddiq with Sheikh Hasina in 2009. Pic: Reuters
An affidavit, seen by Sky News, states that while serving as a British MP, she “exerted pressure and influence” on her aunt to get planning officials to appoint them the land.
Investigators claim planning officials were bribed and pressured into fraudulently allocating the land.
Bangladesh prosecutor Mir Ahmed Ali Salam said if Ms Siddiq is found guilty, Bangladeshi authorities could submit an Interpol Red Notice, which alerts law enforcement around the world to surrender a person to a certain country.
The UK and Bangladesh do not have a formal extradition treaty – but extradition is still possible through a request that is decided by the home secretary.
What has Tulip Siddiq said?
About the Bangladesh trial:
Ms Siddiq has denied all the allegations and sees the trial as a politically motivated smear campaign, calling it “targeted and baseless”.
She told The Guardian she is “collateral damage” of a “feud between Muhammad Yunus and my aunt”.
“These are wider forces that I’m battling against. There’s no doubt people have done wrong things in Bangladesh, and they should be punished for it. It’s just I’m not one of them,” she added.
“I feel a bit like I’m trapped in this Kafkaesque nightmare where I’ve been put on trial and I genuinely haven’t found out what the allegations are and what the trial is about.”
Sky News understands her lawyer requested to attend the trial in Bangladesh on her behalf but was denied access.
We also understand the Bangladeshi authorities did not tell Ms Siddiq of a date change for the trial, and she only found out when Sky News contacted her lawyer about it.
Image: Tulip Siddiq (far left) with her aunt, Sheikh Hasina (third left), and Russian President Vladimir Putin at a 2013 signing ceremony in the Kremlin as Moscow lent $1.5bn to help build a nuclear power station. File pic: AP
In June, Ms Siddiq accused Professor Yunus of conducting an “orchestrated campaign” to damage her reputation and “interfere with UK politics”.
In a legal letter seen by Sky News in June, the MP also said comments made by Professor Yunus in a Sky News interview have prejudiced her right to a fair investigation, meaning the corruption inquiries should be dropped.
Ms Siddiq has also denied brokering a deal with Russia for the nuclear power plant and reportedly told a UK government official she was the target of a “political hit job”.
She also said: “I’m not here to defend my aunt.”
About her resignation:
Sir Keir said on 6 January that Ms Siddiq had referred herself to his independent adviser on ministerial standards, Sir Laurie Magnus.
She had been due to join a delegation heading to China with Chancellor Rachel Reeves, but remained in the UK to clear her name.
In her letter to Sir Laurie, she said: “In recent weeks, I have been the subject of media reporting, much of it inaccurate, about my financial affairs and my family’s links to the former government of Bangladesh.
“I am clear that I have done nothing wrong.
“However, for the avoidance of doubt, I would like you to independently establish the facts about these matters.
“I will obviously ensure you have all the information you need to do this.”
Announcing her resignation, Ms Siddiq said an independent review “has confirmed that I have not breached the ministerial code and there is no evidence to suggest I have acted improperly”.
“Nonetheless, to avoid distraction for the government, I have resigned as city minister,” she added.
The MP has previously said she and her aunt never spoke about politics.
However, Sky News discovered blog posts she wrote in 2008 and 2009, when she was a Labour activist, describing campaigning with her aunt in Bangladesh’s general election and celebrating her victory.
The Times also reported that the MP’s Labour Party flyers and a thank you note to local Labour Party members after she was elected as an MP were found in the palace in Dhaka that belonged to her aunt.
Who is Sheikh Hasina?
Sheikh Hasina was Bangladesh’s prime minister for 20 years – the world’s longest-serving female head of government – but in August was deposed following a mass uprising after elections widely criticised as being fraudulent.
Her premiership was marked by rampant corruption, with Ms Hasina being detained on extortion charges and serving jail time.
Human Rights Watch has said it documented widespread enforced disappearances and extrajudicial killings during her time in power.
But the 77-year-old was also praised for giving nearly a million Rohingya fleeing genocide in Myanmar refuge and assistance in 2017.
Image: Tulip Siddiq with Sheikh Hasina in 2009. Pic: Reuters
Following last summer’s uprising, she fled to India, where she is in self-imposed exile, and is facing an investigation by Bangladesh’s anti-corruption commission.
Most of Ms Hasina’s family were assassinated in 1975 during a coup d’etat but she, her husband and sister, Sheikh Rehana – Ms Siddiq’s mother – were in Europe at the time. They were offered political asylum by the then Indian prime minister Indira Gandhi and lived in Delhi for six years before returning home in 1981 with Ms Hasani as president of the Awami League party.
Ms Siddiq’s mother lived in exile in the UK during the 1980s and in 2016 was made a local councillor representing the Awami League in Dhaka. Her son, Ms Hasina’s son and daughter, are also councillors there.
Ms Hasina remains in India and will be tried in absentia over allegations of crimes against humanity.
How have Labour reacted?
Sir Keir said Ms Siddiq “acted entirely properly” by referring herself to the ethics watchdog to “establish the facts”, and added he had “confidence in her”.
On receiving her resignation letter, Sir Keir said he accepted it “with sadness”, adding: “I also wish to be clear that Sir Laurie Magnus as Independent Adviser has assured me he found no breach of the ministerial code and no evidence of financial improprieties on your part.”
He praised her for making the “difficult decision” to resign nonetheless and said “the door remains open for you” going forward.
Wycombe MP Emma Reynolds replaced Ms Siddiq as a minister, while Torsten Bell took up Ms Reynolds’ role in the Department for Work and Pensions.
Image: Tulip Siddiq MP in 2019. Pic: Reuters
What have the Conservatives said?
Ahead of Ms Siddiq’s resignation, Tory leader Kemi Badenoch called for Sir Keir to sack Ms Siddiq, adding: “He appointed his personal friend as anti-corruption minister and she is accused herself of corruption.
“Now the government of Bangladesh is raising serious concerns about her links to the regime of Sheikh Hasina.”
When the Labour MP resigned, Ms Badenoch accused Sir Keir of “dither and delay to protect his close friend”, saying it had become clear over the weekend her position “was completely untenable”.
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Bangladesh’s leader spoke to Sky News in March
How has Bangladesh reacted?
Bangladesh’s anti-money laundering agency asked the country’s banks for details of accounts and transactions linked to Ms Siddiq, her aunt, mother, her brother and cousins.
Her allies insist she has no bank accounts outside the UK, and her spokesperson said she has not been contacted by the Bangladeshi authorities.
Nobel peace-prize winning economist Muhammad Yunus, who is leading Bangladesh’s interim government, said the London properties used by Ms Siddiq should be investigated and returned if she is found to have benefited from “plain robbery”.
Following her resignation, Professor Yunus said there will be a thorough investigation into properties and assets “tied to stolen Bangladeshi funds, including those linked to individuals with connections to the previous regime” and if it is proven they have benefited from embezzlement “we expect those assets to be returned to Bangladesh, where they rightfully belong”.
“Tulip Siddiq may not have entirely understood the source of the money and property that she was enjoying in London, but she knows now and should seek forgiveness from the people of Bangladesh,” he added.
Former Scottish parliament presiding officer Sir George Reid has died at the age of 86, his family have announced.
Sir George died in the early hours of Tuesday at Strathcarron Hospice near Denny, just a few miles from where he was born in Tullibody, Clackmannanshire.
First Minister John Swinney paid tribute, saying: “I am desperately saddened by the loss of the remarkable George Reid.
“His passion for Scotland, his principled internationalist world view, and his empathy for the plight of people everywhere made him a voice that could not be ignored across five decades.”
Image: Sir George oversaw the completion of the new Scottish parliament building. Pic: Harry Benson/Scottish parliament
Sir George began his career as a journalist and was first elected as an SNP MP for Clackmannan and Eastern Stirlingshire in 1974, serving in the House of Commons before narrowly losing at the 1979 election.
He then returned to journalism, becoming the producer who brought the world pictures of the Ethiopian famine in 1984 alongside presenter Michael Buerk, which sparked the Band Aid and Live Aid concerts.
Later, he later took on a role with the International Red Cross and Red Crescent.
It was not until the opening of the Scottish parliament in 1999 that he returned to the political frontline as an MSP for the Mid Scotland and Fife region, and he then won the Ochil seat in 2003.
He became the second presiding officer following the 2003 poll – after losing his bid to be the first in 1999 to Sir David Steel.
Sir George oversaw the final stages of the then controversial new Holyrood building at the foot of the Royal Mile and the move from the parliament’s initial home on the Mound.
Mr Swinney added: “As an MP, he was a trailblazing member of the SNP’s breakthrough victories of 1974. He became, for me, one of the compelling voices of the campaign for a Scottish parliament in 1979.
“His was one of the voices that brought me into politics and kindled my belief in independence that has driven my adult life. I feel so privileged to have been shaped by his influence and inspiration.”
In late June, he was diagnosed with metastatic kidney cancer – having previously had successful surgery for bladder cancer more than a decade ago.
His family said he was working until his final few weeks at Stirling University, where he was a professional teaching fellow and was well enough to drive home through the Clackmannanshire area where he was born and represented in two different legislatures.
He is survived by Daphne, his wife of 57 years, daughter Morag and her husband, and five grandchildren.
Flags at the Scottish parliament have been lowered as a mark of respect, current Presiding Officer Alison Johnstone announced.
She said: “On behalf of all at the Scottish parliament, I express our deepest sadness at the death of our second presiding officer, the Rt Hon Sir George Reid.
“He’ll be remembered not only for bringing the Holyrood construction project to completion, but for building confidence and ambition in our young parliament.
“A proud son of Clackmannanshire and an internationalist by outlook, he was determined to put Holyrood on the map at home and abroad, and very much succeeded.
“By the time he left office, Holyrood was established at the centre of public life in Scotland and over a million people had visited to see for themselves the new parliament in action.
“The story of devolution and the early years of our parliament will remember George fondly and with gratitude.”