It’s Official: Bitcoin a Legal Tender in El Salvador Following a Supermajority Decision

4 days ago

Bitcoin has officially become a legal tender in El Salvador after 62 out of 84 votes went in favor. 

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The small country of El Salvador has moved forward with its plans and has done well on its word to accept Bitcoin as a legal tender.

  • The president of El Salvador, Nayib Bukele, has taken it to Twitter to share that the law which officially turns Bitcoin into a legal tender in the country has been passed by a supermajority decision.

  • In total, 62 out of 84 votes went in favor.

The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.

62 out of 84 votes!

History! #Btc🇸🇻

— Nayib Bukele 🇸🇻 (@nayibbukele) June 9, 2021

  • For those wondering – for bitcoin to be accepted as legal tender means that no one has the right to refuse BTC for payment.

  • Even though plenty of countries have many providers accepting BTC, El Salvador becomesthe very first country to do so on a national level.

  • The move further legitimizes BTC as a currency, and many experts believe that it sets the tone for others to follow suit.

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