El Salvador votes to become first country to use Bitcoin as legal tender
- Date: 09-Jun-2021
- Source: SkyNews
- Sector:Economy
- Country:Middle East
El Salvador votes to become first country to use Bitcoin as legal tender
Bitcoin will be used as legal tender in El Salvador after President Nayib Bukele's proposals to embrace cryptocurrency were approved by congress.
On Tuesday night, lawmakers voted in favour of the plan with 62 out of 84 possible votes.
The country's president made the proposal at a Bitcoin conference over the weekend and the vote in favour means that the cryptocurrency can be used for any transactions in El Salvador - unless a business is unable to provide the technology needed.
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