EL SALVADOR IS THE FIRST COUNTRY TO MAKE BITCOIN LEGAL TENDER

Bitcoin Must Be Accepted By World Bank, According To Charter

Its founding document, the 1944 Articles of Agreement, outlines the procedures and principles by which the World Bank pledges to engage with sovereign governments. A central theme in the document is its commitment to accept payments from member states in local currencies.

The Parliament of El Salvador has passed with 62 out of 84 votes a bill submitted by President Nayib Bukele to classify Bitcoin as legal tender.

All businesses in the country will be required to accept Bitcoin payment, except those without the technical capabilities.

The U.S. dollar will also continue to be El Salvador’s currency and no one will be forced to pay in Bitcoin, according to the legislation approved late Tuesday.

The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.
62 out of 84 votes!
History! #Btc🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) June 9, 2021
The government will promote training for people to be able to carry out transactions using Bitcoin, which has been used for people trading in black markets to avoid government oversight.