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Bitcoin was made legal tender in the country through the Bitcoin Law, which was passed on 8 June 2021, [42] [43] and took effect on 7 September 2021. [ 44 ] [ 45 ] During the first month, the Salvadoran Foundation for Economic and Social Development reported that 12 percent of Salvadoran consumers have used the cryptocurrency, however, 93 ...
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 April 2022, the Central African Republic (CAR) adopted Bitcoin as legal tender alongside the CFA franc. After El Salvador, CAR was the second country to do so. [25] [26] In April 2023, CAR agreed to repeal the adoption of Bitcoin as legal tender. [27]
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 ...
Bitcoin's price fell 11.3% Tuesday as the cryptocurrency officially became legal tender in El Salvador, three months after the Bitcoin Law passed the country’s legislature. President Nayib ...
El Salvador became the first country in the world to adopt bitcoin as legal tender after Congress on Wednesday approved President Nayib Bukele's proposal to embrace the cryptocurrency, a move that ...
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.
Lawmakers in El Salvador broke into applause after voting to approve Bitcoin as legal tender on Wednesday, making the Central American country the first in the world to fully adopt the ...