History for Humanity!
El Salvador Becomes The First Country to Declare Bitcoin Legal Tender
El Salvador Becomes The First Country to Declare Bitcoin Legal Tender w/ Jack Mallers of Strike
Jack’s Mother @bitcoinmom
Too many kids, not enough bitcoin. Ph.D.,
Powerful thread on the importance of El Salvador’s proposal to make #Bitcoin legal tender.
President of El Salvador announced at @TheBitcoinConf that he is introducing a bill to make #bitcoin legal tender in the country. This is a major development in the history of monetary policy.
1/ in the US, #bitcoin is treated by the IRS as property, which means that every time you try to spend it it’s a taxable event. If $BTC is now a currency, it can be spent in a non-taxable way just like Euros or British pounds.
Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles.
— jack (@jack) June 4, 2021
Here is El Salvador president
describing the immigration & economic incentives for crypto entrepreneurs to move to his country, including “immediate permanent residence” and no taxes on property or #Bitcoin gains.
Here comes Paraguay
You don’t want to be the last country to buy.
Are Central and South America embracing #Bitcoin? Congressman
A politician from Paraguay (@carlitosrejala) has posted a laser eyes photo and promised a bitcoin announcement this week. Just as we saw MicroStrategy start the domino effect for public companies, El Salvador will likely be a catalyst for other countries.
As I was saying a long time ago, our country needs to advance hand in hand with the new generation. The moment has come, our moment. This week we start with an important project to innovate Paraguay in front of the world! The real one to the moon.
Bitcoin as Legal Tender – Legal and Technical Challenges of Digital Cryptocurrency
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