Bitcoin Law aceepted in El Salvador.





This Tuesday, the Legislative Assembly of El Salvador, controlled by President Nayib Burkele, approved the Bitcoin Law as legal currency.

This cryptocurrency can be used to carry out any transaction, both natural and public or private legal persons, as dictated by the new law.

The law obliges all economic agents to accept bitcoin as a form of payment, which the exchange rate between bitcoin and the dollar will be freely established by the market. Those who obviously do not have access to technology, and it allows transactions to be carried out, are excluded.

For accounting purposes, the dollar will be used as a reference, and the State will train the necessary mechanisms so that all the population can access this type of transaction.
El Salvador approved this type of transaction because 70% of the population does not have traditional financial services, so this will boost the country's economic growth.
 
For people who do not want to take risks, The Bitcoin Law is simple, ambitious and well structured, so the government will guarantee that its exact value is in dollars at the time of the transaction.

Leave a Reply

Live Feed
Privacy, Disclaimer