El Salvador to keep dollar as legal tender, seeks World Bank help with bitcoin By Reuters – Investing.com

El Salvador to keep dollar as legal tender, seeks World Bank help with bitcoin By Reuters – Investing.com

SAN SALVADOR (Reuters) - El Salvador will not replace the U.S. dollar with bitcoin as the legal tender, Finance Minister Alejandro Zelaya said on Wednesday, as the Central American nation sought technical assistance from the World Bank to implement bitcoin regulation.

The Central American country this month became the first country to adopt bitcoin as legal tender, with President Nayib Bukele touting the cryptocurrency's potential as a remittance currency for Salvadorans overseas.

El Salvador has been using the U.S dollar as legal tender for the past two decades after abandoning its own currency.