With 62 out of 84 possible votes, lawmakers voted in favor of the move to create a law to adopt bitcoin, despite concern about the potential impact onBukele has touted the use of bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the U.S. dollar will also continue as legal tender.
Under the law, bitcoin must be accepted by firms when offered as payment for goods and services. Tax contributions can also be paid in the cryptocurrency. Still, there were no immediate signs that other countries would follow El Salvador's embrace of bitcoin. Emerging economies — where bank penetration is much lower than in developed countries and reliance on money transfers from abroad much higher — have quickly warmed to cryptocurrencies.Outside the United States, countries with the highest crypto production and trading volumes are all developing nations, according to the Bank of America , including China, Colombia and India.
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El Salvador to keep dollar as legal tender, make bitcoin optional -trade ministerThe U.S. dollar will continue to be legal tender in El Salvador with bitcoin transactions by choice only, the nation's top trade official said on Monday, after President Nayib Bukele faced criticism for aiming to adopt bitcoin as legal tender. what?
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El Salvador is one step closer to making bitcoin legal tender after proposing new lawIf approved by the legislative body, El Salvador would become the first nation in the world to give the bitcoin the status of legal tender. nice hair el salvador has chosen freedom for its people. tic tac rest of the world
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El Salvador becomes first country to adopt bitcoin as legal tender after passing lawLawmakers in the Central American country's Congress voted by a 'supermajority' in favor of the Bitcoin Law. tweet_stamp stamp Bwahaha Japan did it in 2017, El Salvador is the 2⁰ country to adopt Bitcoin as legal tender.
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El Salvador is the first country to adopt bitcoin as legal tenderEl Salvador has become the first country to adopt bitcoin as legal tender. Why not .. their currency is worthless. God Bless El Salvador YourAnonCentral OpCanary keep note. Right cause anybody in El Salvador can afford the $40000 per coin.
Source: CNN - 🏆 4. / 95 Read more »
El Salvador Makes History As World’s First Country To Make Bitcoin Legal TenderI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com Scary History created, others will follow. Since only the president, his family, friends and entourage can have them, what a great idea. Is it not the poorest country in the world with the highest per capita murders!? Lol. Sure everyone that is corrupt in El Salvador is thrilled with the policy
Source: Forbes - 🏆 394. / 53 Read more »