Friday, 1 July 2022

El Salvador becomes first country to adopt bitcoin as legal tender

5 min read

In a bid to promote financial inclusion, open up more opportunities and modernise businesses, El Salvador became the first country in the world to adopt bitcoin as legal tender. The government has already acquired 400 bitcoins and has developed technology and established a regulatory framework for the implementation of this initiative. The goal is to benefit all and for operations to be as safe as it is efficient. Those who make the decision to use bitcoin will eventually be able to convert their cryptocurrencies to cash immediately and, through the Chivo Wallet environment, it will be commission free. 

 

Re-disseminated by The Asian Banker from Presidencia de la República de El Salvador

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