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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 ...
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.
Bitcoin became legal tender on 7 September 2021, [5] 90 days after the publication of the law in the official gazette, [16] [17] which makes El Salvador the first country to have bitcoin as legal tender. [5] [18] Bitcoin joined the United States dollar as the second official currency of El Salvador. [19] [needs update]
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 ...
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 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 ...
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. [20 ...