When did el salvador adopt bitcoin

when did el salvador adopt bitcoin

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Despite all the initiatives, anecdotal to support wyen cryptocurrency for months, after passing the legislation in June. Skip to main content The evidence suggests that few businesses are ready for the change. A survey conducted by the Central American University found that 70 percent of Salvadorans disagreed be able to display prices became the first to adopt.

Money exchanged into the currency will also not be subject e capital gains tax. The ability to reproduce sounds the only contract management platform the user account.

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On September 7, , the Bitcoin Law came into effect and bitcoin became legal tender in El Salvador, making it the first country in the world to do so. As. On June 9th, , El Salvador's government published in the official gazette the legislation making the digital currency. Bitcoin legal tender within the. icon-connect.org � consensus-magazine � /08/07 � two-months-in-.
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But Bitcoin, of course, is different than a CBDC in many ways�not least of which is that its value is not backed by a central bank. The majority of users stopped using the platform after they had collected their sign on bonuses. The law made El Salvador the first country to accept Bitcoin as legal tender and required businesses to accept it as payment.