El Salvador: Acceptance of Bitcoin as legal tender
Progress
Current status
in force
07 Sep 2021 in force
08 Jun 2021 adopted
Scope
Implementers
El Salvador
Policy Area
Other operating conditions
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
legislature
Government Body
parliament
Implementation Level
national
Timeline of events
Implemented Bitcoin Law introducing Bitcoin as legal tender
On 7 September 2021 El Salvador implemented the Bitcoin Law, which was adopted on 8 June 2021. The law introduced Bitcoin as legal tender of the country. Consequently, all prices may be denominated in Bitcoin and even taxes can be paid in Bitcoin. A…
SourceEvent type
law
Action type
implementation
Government branch
legislature
Government body
parliament
Adopted Bitcoin Law introducing Bitcoin as legal tender
On 8 June 2021, the legislative assembly of El Salvador adopted the Bitcoin Law. The law introduces bitcoin as legal tender of the country. Consequently, all prices may be denominated in bitcoin and even taxes can be paid in bitcoin. Also, according…
SourceEvent type
law
Action type
adoption
Government branch
legislature
Government body
parliament