El Salvador’s parliament has approved bitcoin as legal tender, President Nayib Bukele said.

The Salvadoran leader submitted the bill, which seeks to grant bitcoin the status of a legal tender, to the parliament on Tuesday.

“The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. 62 out of 84 votes! History!” he tweeted after a vote late on Tuesday.

According to the bill, the legislation will regulate bitcoin and will grant it “liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out”.

El Salvador uses the US dollar as currency.

The bill also aims to facilitate financial inclusion to all citizens of El Salvador and promote economic growth.

In presenting the bill, Bukele asserts that the state is obligated to provide alternatives that allow people to carry out transactions in bitcoin and have “automatic and instant convertibility” into US dollars.

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

Previous articleIngenuity Helicopter Makes 7th Successful Mars Flight – NASA
Next articleSeventeen Killed as Bus Collides With Truck in Northern India


Please enter your comment!
Please enter your name here