El Salvador's President Floats Bitcoin As Legal Tender

Law360 (June 7, 2021, 6:23 PM EDT) -- El Salvador's president says he aims to introduce a bill that would make Bitcoin legal tender, a move that, if adopted, would make the Central American country the first nation to do so.

President Nayib Bukele announced the plan Saturday in a video that aired at the Bitcoin 2021 conference, a multiday event in Miami. He said he plans to introduce the bill this week. The president cited opportunities for job creation as well as access to financial services for those without a bank account. Seventy percent of the country's population doesn't have a bank account and works in the informal...

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