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Wednesday

23 June 2021

El Salvador President: Bitcoin law will be approved tonight

El Salvador President: Bitcoin law will be approved tonight


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Nayib Bukele, the president of El Salvador says there’s almost “a 100% chance” his bill to make Bitcoin legal tender will pass tonight.

“The purpose of this law is to regulate Bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out,” the bill reads.

According to the bill, the state will provide the infrastructure that enables Bitcoin users to instantly convert from BTC to USD if need be.

Additionally, the state will provide “training and mechanisms” to aid citizens unfamiliar with Bitcoin — as many will need to learn how to use the digital asset.

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cointelegraph.com
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