In Global First, El Salvador Deems Bitcoin Legal Tender

Law360 (June 9, 2021, 5:50 PM EDT) -- El Salvador on Wednesday became the first country in the world to recognize Bitcoin as legal tender, a move that comes just days after the country's President Nayib Bukele publicly announced the plan.

The bill cleared the Legislative Assembly with 62 votes out of 84, and marks a rapid turnaround for a move that was publicized last week and submitted to the Legislature earlier this week. Bukele said in a prerecorded video that aired June 5 at the Bitcoin 2021 conference in Miami that he was planning to introduce a bill that would make Bitcoin legal tender in the country.

El Salvador's official...

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