El Salvador's Use Of Bitcoin Complicates US Commercial Law

Law360 (June 11, 2021, 3:53 PM EDT) -- On June 8, El Salvador passed a bill proposed by President Nayib Bukele recognizing Bitcoin as legal tender. El Salvador is the first sovereign nation to formally recognize Bitcoin as currency, alongside the U.S. dollar. The law will go into effect in the next few months.

The law explains the rationale for Bitcoin adoption:

In order to promote the economic growth of the nation, it is necessary to authorize the circulation of a digital currency whose value answers exclusively to free-market criteria, in order to increase national wealth for the benefit of the greatest number of inhabitants.

Seventy percent of El...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!