BTC: $34,119.19 (+4.09%) El Salvador Passes The Bitcoin L | Best Crypto Traders Official
BTC: $34,119.19 (+4.09%)
El Salvador Passes The Bitcoin Law
A supermajority of the El Salvadoran legislature voted to adopt bitcoin as legal tender early Wednesday morning.
The bill will mandate all businesses to accept bitcoin for goods or services, but the government will act as a backstop for entities that aren’t willing to take on the risk of a volatile cryptocurrency, he said.
President Nayib Bukele also indicated that the government may promote bitcoin mining. El Salvador has already been hoping to draw businesses with excess geothermal energy, and while the government isn’t specifically looking to the bitcoin mining industry to fill that need, it is one such sector that could benefit, he said.
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