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22 June 2021

El Salvador’s Bitcoin Bill Gets Congressional Approval, But Skeptics Voice Their Concerns

El Salvador’s Bitcoin Bill Gets Congressional Approval, But Skeptics Voice Their Concerns


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El Salvador’s Bitcoin Bill was first publicized last weekend during the Bitcoin Miami 2021 Conference.

But doubts on both the Bill itself and the suitability of El Salvador as a Bitcoin hub remain.

According to CNBC, El Salvador becomes the first country to adopt Bitcoin as legal tender officially.

The sole purpose of the symbolic gesture is to get Bitcoin companies to set up shop, pay taxes and create some jobs, while allowing Bitcoin pumpers to exaggerate the significance.” As much as President Bukele has extended his welcome to cryptocurrency investors and entrepreneurs, doubts remain about the country’s safety.

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