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Wednesday

23 June 2021

El Salvador becomes first country to adopt bitcoin as legal tender

El Salvador becomes first country to adopt bitcoin as legal tender


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El Salvador becomes first country to adopt bitcoin as legal tender.

El Salvador has become the first country in the world to adopt bitcoin as legal tender after congress approved President Nayib Bukele’s proposal to embrace the cryptocurrency.

Bukele has touted the use of bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the US dollar will also continue as legal tender.

It was not immediately clear what proportion of remittances sent to El Salvador are in the form of bitcoin.

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theguardian.com
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