Nayib Bukele, El Salvador's president, delivers a speech to Congress at the Legislative Assembly building in San Salvador, El Salvador.Salvador is making history Tuesday by becoming the first sovereign government to use bitcoin as legal tender—clearing the way for residents to pay taxes and other debt with the cryptocurrency, and allowing hundreds of thousands of businesses nationwide to accept it as payment. The Central American nation of 6.
The decision to use the U.S. company—and a publicly available blockchain—to power such a vital part of the nation’s infrastructure shows how far the cryptocurrency has come since the days when it was seen as a bastion for criminals. But the nation’s controversial president still has many questions to answer. El Salvador's presidential press secretary didn't immediately respond to a request for comment.
At least for now, the Chivo wallet will only support bitcoin and USD, and users won't incur fees when transacting with others using the wallet—a point President Bukele has stressed on Twitter. Funds withdrawn from the wallet, however, will incur fees. BitGo has worked out a"small commercial relationship" with El Salvador's central bank, Belshe says, but financial terms weren't disclosed.
Source: Digital Coin News (digitalcoinnews.net)
Unicorn Debut (UD) goes round and round when cycling companies spring up. A sure fire rejection from government is almost guaranteed given the trait of crypto and their ultimate goal which leaves little hope for the people putting hope on them.
The only country in the world actually trying to be fiscally responsible, Bitcoin cannot be printed! 🙌
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In world first, bitcoin becomes legal tender in El SalvadorEl Salvador on Tuesday becomes the first country in the world to accept bitcoin as legal tender, despite widespread domestic skepticism and international warnings of risks for consumers.
Source: YahooNews - 🏆 380. / 59 Read more »
El Salvador becomes the first country to use bitcoin as a legal tenderPresident Nayib Bukele's government insists the move will give many Salvadorans access to bank services for the first time.
Source: trtworld - 🏆 101. / 63 Read more »
Factbox: Pros and cons for El Salvador, the first bitcoin nationEl Salvador will on Tuesday become the first country in the world to recognize bitcoin as legal tender, a move President Nayib Bukele says will save Salvadorans living abroad millions of dollars in commissions on money they send home. Internet shut down in haryana FarmersProstest Be serious please 🤣 Great idea but might be too early. Wondering how many of the population have BITCOIN Wallets and the country's Central Bank monetary policy. With Bitcoin volatility, they might have no control. Anyway, why not experiment and see.
Source: Reuters - 🏆 2. / 97 Read more »
El Salvador Becomes First Country to Adopt Bitcoin as National CurrencyCrypto advocates prepare for ‘B-Day’ as El Salvador’s government rolls out bitcoin ATMs, an e-wallet and stylish kiosks to promote the use of the speculative digital asset. Islamic countries were captured by anti-Islamic forces, and Prophet Muhammad SAW instructed Qasim to share the message of the dreams to the Muslim leaders. Qasim’s dreams have warnings for the future, He will be the future Imam Al-Mahdi. wow Bwhahahahahaaha
Source: WSJ - 🏆 98. / 63 Read more »
El Salvador leads world in adopting bitcoin as official currencyEl Salvador became the first country in the world to adopt bitcoin as legal tender, a real-world experiment proponents say will lower commission costs for billions of dollars sent home from abroad but which critics warned may fuel money laundering Covid-19 restrictions and passports moving towards a World Government and crypto will be the new world currency. 'People have no patience If all the people have Patience all the people might be rich in this world. uqc'
Source: Reuters - 🏆 2. / 97 Read more »
El Salvador Goes On A $21 Million Crypto Buying Spree As Bitcoin Becomes 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 Wow !!! Free CAR washing on Road American Private companies and Public companies are buying more than nation States $50k-$51k is the new resistance for Bitcoin If we can hold this range with confirmation then the 2nd half of the bull market is starting! rawkz_t is a super underrated bitcoiner I’ve been following her tweets and tips seriously & I’ve been doing really great Follow her
Source: Forbes - 🏆 394. / 53 Read more »