El Salvador first country to approve bitcoin as legal tender | The Guardian Nigeria News

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(FILES) In this file photo taken on September 24, 2020 shows a physical imitation of a Bitcoin at a crypto currency “Bitcoin Change” shop, near Grand Bazaar, in Istanbul. – Bitcoin soared above $50,000 for the first time on February 16, 2021, after surging by almost 75 percent this year as heavyweight companies lend their support to the world’s most popular virtual currency. At around 1235 GMT, bitcoin hit an all-time high at $50,547.70, a 4.4-percent gain since Monday. (Photo by Ozan KOSE / AFP)

Bitcoin is to become legal tender in El Salvador, the country’s president said, making it the first nation to adopt a cryptocurrency for everyday use.

Lawmakers in the Central American nation’s Congress passed a bill late Tuesday that will eventually allow the famously volatile digital currency to be used for many aspects of daily life, from property purchases to tax contributions.

“The #BitcoinLaw has just been approved by a qualified majority” in the legislative…



Source: Guardian Newspaper