El Salvador: how it went with the Bitcoin Law in 2021
El Salvador just became the first country to adopt bitcoin as legal tender. Lawmakers in the Central American country’s Congress voted by a supermajority in favor of the Bitcoin Law.
Price rose by 5% after the announcement of the law. “The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out,” the law reads.
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