El Salvador becomes 1st country to make Bitcoin legal currency

9/06/2021 को प्रकाशित
El Salvador has become the first country in the world to adopt Bitcoin as legal tender after Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency.

With 62 out of 84 possible votes, lawmakers voted in favor of the move on Tuesday to create a law to adopt Bitcoin, despite concerns about the potential impact on El Salvador's program with the International Monetary Fund.

Bukele has touted the use of Bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the U.S. dollar will also continue as legal tender.

Under the law, Bitcoin must be accepted by firms when offered as payment for goods and services. Tax contributions can also be paid in the cryptocurrency. Its use as legal tender will begin in 90 days, with the Bitcoin-dollar exchange rate set by the market.

Cryptocurrency supporters hailed the move as legitimizing the emerging asset, but its impact on Bitcoin regulation, taxation or adoption in other countries remains to be seen. Still, there were no immediate signs that other countries would follow El Salvador's embrace of Bitcoin.

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  • If the US makes up some bullshite and invades them, I will join the El Salvadorian army. I am sick of these governments with their boots on our throats.

  • The western world will be left behind if we don't follow suit.

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  • El Salvador is a third-world country rife with corruption .. so this kinda makes sense

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    • A third world country that is first to lead the way to eliminating banks. And this is a move towards increased transparency in economics.

    • do you have proof of that the new president. is. different. if you dont know. about my country your opinion doesn’t count

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  • All these people touting it are hoping to make a profit off of you.

    • yeah so whats your point.!?!? Don't we all want to earn a living and earn profits! snap out of it!

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    • So? most things governments vote on are geared towards generating revenue. At least they aren't profiting from pointless overseas wars.

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    • The best thing that should be on every wise individuals list is investing into different streams of income that don't Depend on government to brings in money especially Now the pandemic is hitting the country very bad

    • Both investments are Good to go into but if profits must be considered then crypto is far better

  • Curious how it's a notoriously corrupt country to do it. HMMMMMMMM.

    • Get info about Nayib bukele and you will understand

    • yes. BITCOIN was designed to eliminate corruption. what you are witnessing is a golden future in El Salvador! BITCOIN weeds out the federal reserve and all the tyrants!

    • there is more corruption in fiat. Fiat currency can easily be misused especially by the government.

  • That's all about drugs and money laundry

    • As if no one buys illegal substances in dollars or their local currency 🤣🤣🤣

  • Huge 🤩 we’re witnessing history

  • Gold or silver would be better. Your money doesn't vanish if there is a power failure but I am interested to see how it works out. The fiat system is ready to collapse.

    • @Bob Deer exactly!

    • As long as the sun shines the power will never fail Gold and silver don't work anymore

    • @Israel E. Hernandez No I haven't.

    • Have you read all the legal documents behind this decision? 🤔

  • BIG MISTAKE ‼

    • Bitcoin are only backed up by SPECULATION❗ NOT GOLD ❓ ⌛⌛⌛ “What goes up must come down.”

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  • I don’t trust this currency at all. You guys are going to go broke.

    • It's not mandatory It's an option. Less bank and 3rd party fees. Now I won't be paying ridiculous fees for using the same dollar (debit/credit card) I use here in US when I travel to ES. More money in my wallet less for the banks 😀

    • It's for thieves and the foolish.

  • They are about to be economically destroyed worst than they already are. As he said is an experiment. I'm no scientist but experiments are to be done in smaller scales not in the masses.😬🤷‍♂️

    • It's an option not mandatory!!!

    • the bitcoin experiment has been going on for 11 years...some country had to be the first, and they will be glad they were.

    • The Government was and is the ones telling the people they need it. Most are ignorant to who owns the Government and media and Hollywood and social media and the Music Industry and academia and tv news/ shows. It is the radical Left who owns all of that. They control the social engineering.

    • @A. C the Public didn’t ask for this. The public was brainwashed to think they want this. Well, half the population.

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  • Here we go!!! So proud of our CentralAmerican brothers!!!👏👏👏

  • what if a lot of people in the country had bitcoin and then it was cut off?

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  • Thank you for always being a reliable shoulder to lean on. I own you so much 𝙍𝙀𝘼𝙇𝘾𝙔𝘽𝙀𝙍𝙃𝘼𝘾𝙆𝙀𝙍𝙎.𝘾𝙊𝙈 i pray God bless your handwork sir...

  • I m join Bitcoin

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    • V. Norah Okay,Thank you. I appreciate this alot

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