It’s not just the gangs: Bukele now faces the challenge of the Salvadoran economy

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By Isabella Cota

Phillip Euell does not hide his enthusiasm when he talks about his upcoming trip to San
Salvador, the capital of El Salvador. The American lawyer went from being a Bitcoin fan to
practicing as a lawyer in cryptocurrency insolvency cases and this experience is, for him, an
obvious competitive advantage in the only country in the world that has made Bitcoin legal
“I would love to have clients in El Salvador and I am working for that,” he says in a video call
from the office of his firm Diaz Reus in Miami, “I know some Americans who live there and
they say that being there now, compared to a few years ago , it is really different, since the
security level has improved dramatically. Now the second big obstacle is economic.”