El Salvador Moves to Become First Country to Make Bitcoin Legal Tender

Photo credit: Jose Cabezas/Reuters

El Salvador may become the first country in the world to recognize Bitcoin as legal tender. Speaking to the massive Bitcoin 2021 Conference in Miami on Saturday, the country’s president Nayib Bukele said he would soon introduce legislation that would grant the cryptocurrency the same legal status as the U.S. dollar, which the country currently uses. “Next week I will send to congress a bill that will make bitcoin a legal tender,” Bukele said. Bukele said he will partner with the digital wallet company Strike to make cryptocurrency available to El Salvadorans.

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SOURCE: The Daily Beast – Blake Montgomery