Poket News

El Salvador becomes first country in world to adopt bitcoin as legal tender

 

  • President Nayib Bukele proposed the bill last week to embrace cryptocurrency. 
  • 62 lawmakers voted in favour of the bill, out of 84 votes cast.
  • Mr Bukele has touted the use of Bitcoin for its potential to help Salvadorans living abroad send remittances back home. 
  • He said, the US dollar will also continue as legal tender. 
  • Shortly before the vote, he tweeted that Bitcoin will bring financial inclusion, investment, tourism, innovation and economic development for the country.