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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. 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.
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 states that "the purpose of ...
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 made bitcoin a national currency in 2021, although its implementation has been slow and its use limited. Some foreign promoters of the digital currency have moved to the country ...
Bitcoin City is a planned smart city project in La Unión, El Salvador.The planned city is intended to be a tax haven, and to use geothermal energy to power Bitcoin mining. . The feasibility of its reliance on both geothermal energy and Bitcoin have been the subject of criticism, alongside concerns regarding delays in the project's financing and constructi
Bitcoin will remain legal tender in El Salvador during the second term of President Nayib Bukele, his vice president said on Wednesday. Days before an election Bukele is expected to handily win ...
In Estonia, the use of bitcoins is not regulated or otherwise controlled by the government. [3]: Estonia The Estonian Ministry of Finance have concluded that there is no legal obstacles to use bitcoin-like crypto currencies as payment method. Traders must therefore identify the buyer when establishing a business relationship or if the buyer ...
After nearly two years of delays, El Salvador’s Bitcoin Volcano Bond has been approved and could be issued as early as the first quarter of 2024.. The country's National Bitcoin Office, or ONBTC ...