El Salvador Enacts Bitcoin Law, Ushering In New Era Of Global Monetary Inclusion

El Salvador Enacts Bitcoin Law, Ushering In New Era Of Global Monetary Inclusion

On June 9, El Salvador's legislative assembly voted to make bitcoin legal tender throughout the country. (Photo by STANLEY ESTRADA/AFP via Getty Images)

On Wednesday, June 9, El Salvador's legislative assembly made history by formally adopting bitcoin as legal tender, with nearly three-fourths of the legislature voting in favor. If the new law works as intended, it has the potential to transform El Salvador into one of the world's most important financial centers, and to affect the way people around the globe use digital currencies.