Bitcoin becomes legal tender in El Salvador… What happens next?

July 09, 2021

El Salvador made history on June 8th, when it voted to make Bitcoin legal tender — becoming the first country in the world to do so.

The nation’s president Nayib Bukele made the proposal directly, which was then passed by the Salvadoran congress with a supermajority of 62 out of 84 possible votes.

The legislation means businesses in El Salvador who are technically able to accept Bitcoin will be compelled to do so as payment for goods and services going forward.

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