3 days ago · The use of bitcoin in El Salvador’s dollarized economy, according to the new rule, will be optional and will be at the discretion of the private sector to accept cryptocurrency payments for goods and services. Businesses are no longer required to convert dollar prices into this cryptocurrency. “Bitcoin no longer has that force of legal tender.

6 days ago · El Salvador's Congress passed a legislative amendment on Wednesday to alter the country's Bitcoin (CRYPTO: BTC) policy, making its acceptance voluntary rather than mandatory.

5 days ago · The Bitcoin law reform was approved without setbacks in a Congress controlled by President Nayib Bukele’s party. It removes bitcoin’s current legal tender status and makes its acceptance ...

In January 2022, the International Monetary Fund urged El Salvador to cease using bitcoin as legal tender, citing its risk to the country's financial stability, integrity and consumer protection.

Why is El Salvador Interested in Bitcoin? On June 9th, 2021, El Salvador’s government published in the oficial gazette the legislation making the digital currency Bitcoin legal tender within the country. The legislation went into effect on September 7th, 2021.

Jun 9, 2021 · El Salvador became the first country in the world to adopt bitcoin as legal tender after Congress on Wednesday approved President Nayib Bukele's proposal to embrace the cryptocurrency, a...

Jun 9, 2021 · El Salvador has become the first country in the world to officially classify Bitcoin as legal currency. Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency,...

I n September 2021, El Salvador became the first country to make bitcoin legal tender, requiring all businesses to accept the cryptocurrency. In an attempt to popularize and regularize its use, the government gave citizens financial incentives to download a special cryptocurrency app.

Jun 9, 2021 · El Salvador has become the first country to make bitcoin legal tender, a move President Nayib Bukele hailed as a historic step towards financial inclusion and economic growth for the poor...

Dec 22, 2023 · On 7 September 2021, El Salvador became the first country to make bitcoin legal tender through the “Bitcoin Law.” A legal tender refers to a form of payment that is recognized by law as valid for settling financial obligations within a particular jurisdiction.