El Salvador becomes the 1st country to approve Bitcoin as legal tender
El Salvador s legislative assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first country to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference.
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Bitcoin won t replace the U.S. dollar as official currency but businesses that can accept it now must
The Associated Press ·
Posted: Jun 09, 2021 10:59 AM ET | Last Updated: June 9
Roberto Carlos Silva, owner of La Zontena store, poses at his business where he accepts Bitcoins at El Zonte Beach in Chiltiupan, El Salvador, on Tuesday.(Jose Cabezas/Reuters)
This country becomes world’s first to approve Bitcoin as official currency News
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Bitcoin becomes an official currency in this country. Earlier on Wednesday, El Salvador announced to approve Bitcoin as the official currency. The El Salvador Congress approved a bill that makes Bitcoin a legal tender in the country. Also Read - Bitcoin price falls significantly today, Ether value tumbles too
Bukele also announced that people who invest Bitcoin in El Salvador will get the country citizenship. To add to this, people who invest in three Bitcoins in country’s economy will be given citizenship by the government. Also Read - Dogecoin explained: What is it, how to buy in India
El Salvador president invites Bitcoin investors to the country telling them they won't be charged capital gains due to crypto being a "legitimate currency."
El Salvador’s president to submit a bill to legalize Bitcoin 1 minute read
Miami, Jun 6 (EFE).- El Salvador President Nayib Bukele announced that he would introduce a bill next week to make the Bitcoin crypto-currency a legal tender in the Central American country.
Bukele made the announcement in a recorded message played at the Bitcoin 2021 conference in Miami, Florida on Saturday during a presentation by the founder of the lightning network payments platform Strike, Jack Mallers.
“In the short term, this will generate jobs and help provide financial inclusion to thousands outside the formal economy,” Bukele said in the recording.