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

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

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 becomes the 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.
  • Source