EYEl Salvador approves bitcoin as legal tender
|Tax Alerts, Legislation & Policy, Na ...|El Salvador
The law would allow bitcoin to be used as legal tender in El Salvador. It would establish rules for bitcoin exchanges and allow for the instantaneous conversion to the US dollar.
On 8 June 2021, El Salvador’s Legislative Assembly approved the Bitcoin Law, which would establish bitcoin as legal tender in El Salvador.
Once enacted, the law would require bitcoin to be accepted as legal tender in any transaction carried out by entities or individuals. Companies that do not have the technology to condu…