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El Salvador's Congress has approved a migration law granting expedited citizenship to foreigners who make bitcoin "donations" to government social and economic development programs. In a surprise ...
In 2021, El Salvador became the first country to adopt Bitcoin as legal tender, mandating that businesses accept the leading cryptocurrency as a form of payment and rolling out a digital wallet ...
Naturalization requires completion of an application of request that is supported by the requisite documents to establish eligibility. Basic requirements are that the applicant is at a minimum eighteen years old, has resided in El Salvador for a minimum of five years, declare their desire to be a Salvadoran and swear a loyalty oath, and confirm they have not been convicted of a crime or ...
Four years after becoming the first country to adopt bitcoin as legal tender, El Salvador is taking a step back. The Legislative Assembly has approved changes to the country's Bitcoin Law, ...
The Bitcoin Law [6] (Spanish: Ley Bitcoin, pronounced [ˈlej biðˈkojn]) [7] was passed by the Legislative Assembly of El Salvador on 8 June 2021, giving the cryptocurrency bitcoin the status of legal tender within El Salvador after 7 September 2021. [8] It was proposed by President Nayib Bukele. The text of the law stated that "the purpose of ...
In June 2021, president Nayib Bukele said he would introduce legislation to make Bitcoin legal tender in El Salvador. [19] The Bitcoin Law was passed by the Legislative Assembly on 9 June 2021, with a majority vote of 62 out of 84. Bitcoin officially became legal tender ninety days after the publication of the law in the official gazette.
Four months into El Salvador's Bitcoin experiment, few use the cryptocurrency, fraud has been widespread, and the country has lost up to $22 million. El Salvador's president buys Bitcoins 'naked ...
El Salvador became the first country in the world to use bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. [1] It has been promoted by Nayib Bukele, the president of El Salvador, who claimed that it would improve the economy by making banking easier for Salvadorans, and that it would encourage foreign investment.