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El Salvador Officially Recognizes Bitcoin as Legal Tender

El Salvador has officially approved the Bitcoin law, which gives BTC status of legal tender.

El Salvador is the first nation to give Bitcoin this status, which is a huge milestone for Bitcoin!

At approximately 8 pm, President Bukele announced via his Twitter account that he had introduced the “Bitcoin Law” to the Congress of El Salvador. He said that this will give Bitcoin the status of legal tender of mandatory acceptance throughout the national territory.

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Just 2 hours after the announcement, the country’s Legislative Assembly revealed that they were discussing its approval. During the discussion, Congressman Chris Guevara said:

“I believe that of all the decisions we are going to make in this session, this one, the Bitcoin Law, is one of the most relevant.”

Chris Guevara

In Chris Guevara’s opinion, the Bitcoin decision was the most important among many other topics.

Quickly afterward, the bill was approved giving Bitcoin the status of legal tender in El Salvador.

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