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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 ...
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 ...
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 ...
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, ...
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.
In June 2021, the Legislative Assembly of El Salvador voted legislation to make bitcoin legal tender in El Salvador, alongside the US dollar. [a] [10] [5] [11] The law took effect on 7 September, making El Salvador the first country to do so.
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.
In 2016, Zug added bitcoin as a means of paying city fees, in a test and an attempt to advance Zug as a region that is advancing future technologies. [157] Swiss Federal Railways , government-owned railway company of Switzerland, sells bitcoins at its ticket machines.