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

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

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

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.